Melqart Asset Management UK Ltd Purchases 89,781 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Melqart Asset Management UK Ltd boosted its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1,267.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 96,867 shares of the technology company’s stock after buying an additional 89,781 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Pegasystems were worth $11,076,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Capital Group LLC lifted its position in Pegasystems by 378.4% during the first quarter. Private Capital Group LLC now owns 244 shares of the technology company’s stock valued at $28,000 after purchasing an additional 193 shares in the last quarter. Captrust Financial Advisors lifted its position in Pegasystems by 44.2% during the first quarter. Captrust Financial Advisors now owns 509 shares of the technology company’s stock valued at $58,000 after purchasing an additional 156 shares in the last quarter. Eaton Vance Management purchased a new position in Pegasystems during the first quarter valued at $63,000. FORA Capital LLC purchased a new position in Pegasystems during the first quarter valued at $75,000. Finally, Guinness Atkinson Asset Management Inc lifted its position in Pegasystems by 900.0% during the first quarter. Guinness Atkinson Asset Management Inc now owns 660 shares of the technology company’s stock valued at $75,000 after purchasing an additional 594 shares in the last quarter. Institutional investors own 46.67% of the company’s stock.

NASDAQ PEGA traded up $0.54 during trading hours on Thursday, hitting $136.51. 1,601 shares of the company were exchanged, compared to its average volume of 212,182. The stock has a 50-day moving average price of $130.02. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.23. Pegasystems Inc. has a 52 week low of $100.69 and a 52 week high of $148.80. The stock has a market capitalization of $11.09 billion, a PE ratio of -257.21 and a beta of 1.20.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, April 28th. The technology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.17. The firm had revenue of $313.50 million for the quarter, compared to analysts’ expectations of $307.97 million. Pegasystems had a negative return on equity of 18.54% and a negative net margin of 4.00%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, analysts expect that Pegasystems Inc. will post -0.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Thursday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, June 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.09%. Pegasystems’s dividend payout ratio is -8.76%.

Several equities analysts recently weighed in on PEGA shares. Royal Bank of Canada lifted their target price on Pegasystems from $150.00 to $165.00 in a research report on Tuesday, June 15th. JMP Securities boosted their price objective on Pegasystems from $149.00 to $172.00 and gave the company a “market outperform” rating in a research report on Thursday, April 29th. Needham & Company LLC boosted their price objective on Pegasystems from $169.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, April 29th. Macquarie boosted their price objective on Pegasystems from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, June 4th. Finally, Zacks Investment Research downgraded Pegasystems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 4th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $151.67.

In other news, CAO Efstathios A. Kouninis sold 293 shares of the company’s stock in a transaction that occurred on Wednesday, June 16th. The stock was sold at an average price of $132.89, for a total transaction of $38,936.77. Following the transaction, the chief accounting officer now owns 2,461 shares of the company’s stock, valued at $327,042.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 2,470 shares of the company’s stock in a transaction that occurred on Wednesday, June 9th. The shares were sold at an average price of $127.72, for a total value of $315,468.40. Following the transaction, the insider now directly owns 47,746 shares in the company, valued at approximately $6,098,119.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,337 shares of company stock worth $1,178,006. Insiders own 50.50% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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