Caitong International Asset Management Co. Ltd Sells 363 Shares of Pegasystems Inc. $PEGA

Caitong International Asset Management Co. Ltd trimmed its stake in Pegasystems Inc. (NASDAQ:PEGA) by 31.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 795 shares of the technology company’s stock after selling 363 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Pegasystems were worth $43,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEGA. Massachusetts Financial Services Co. MA bought a new position in shares of Pegasystems in the 1st quarter worth $151,149,000. Jacobs Levy Equity Management Inc. acquired a new position in Pegasystems during the 1st quarter valued at about $68,229,000. AQR Capital Management LLC increased its position in Pegasystems by 60.1% during the 1st quarter. AQR Capital Management LLC now owns 1,200,819 shares of the technology company’s stock valued at $81,337,000 after buying an additional 450,951 shares in the last quarter. Teacher Retirement System of Texas increased its position in Pegasystems by 275.3% during the 1st quarter. Teacher Retirement System of Texas now owns 603,183 shares of the technology company’s stock valued at $41,933,000 after buying an additional 442,462 shares in the last quarter. Finally, Herald Investment Management Ltd increased its position in Pegasystems by 100.0% during the 2nd quarter. Herald Investment Management Ltd now owns 703,600 shares of the technology company’s stock valued at $38,086,000 after buying an additional 351,800 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PEGA has been the topic of several recent analyst reports. Barclays upped their target price on Pegasystems from $58.00 to $67.00 and gave the company an “equal weight” rating in a research report on Thursday. Weiss Ratings raised Pegasystems from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday. Wall Street Zen upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank Of Canada reiterated an “outperform” rating and set a $80.00 price target (up previously from $70.00) on shares of Pegasystems in a research note on Wednesday. Finally, Citigroup boosted their price target on Pegasystems from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.61.

Pegasystems Stock Up 1.0%

Shares of PEGA opened at $66.27 on Friday. Pegasystems Inc. has a 52 week low of $29.84 and a 52 week high of $67.19. The company has a market capitalization of $11.25 billion, a price-to-earnings ratio of 44.48 and a beta of 1.08. The stock’s 50-day moving average price is $56.49 and its 200-day moving average price is $51.68.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The firm had revenue of $381.35 million for the quarter, compared to the consensus estimate of $351.95 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts anticipate that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems’s dividend payout ratio is presently 8.05%.

Insider Transactions at Pegasystems

In other news, Chairman Alan Trefler sold 45,000 shares of the company’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $56.73, for a total value of $2,552,850.00. Following the sale, the chairman owned 44,979,364 shares in the company, valued at $2,551,679,319.72. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 2,544 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $59.00, for a total value of $150,096.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,728 shares of company stock valued at $9,625,920. 49.70% of the stock is owned by insiders.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.