Praesidium Investment Management Company LLC Purchases 380,135 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Praesidium Investment Management Company LLC increased its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 30.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,613,907 shares of the technology company’s stock after acquiring an additional 380,135 shares during the quarter. Pegasystems makes up approximately 9.5% of Praesidium Investment Management Company LLC’s holdings, making the stock its 5th biggest holding. Praesidium Investment Management Company LLC owned approximately 1.99% of Pegasystems worth $184,534,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEGA. Private Capital Group LLC boosted its holdings in shares of Pegasystems by 378.4% in the 1st 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 during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Pegasystems by 44.2% during the 1st quarter. Captrust Financial Advisors now owns 509 shares of the technology company’s stock valued at $58,000 after acquiring an additional 156 shares in the last quarter. Eaton Vance Management acquired a new position in shares of Pegasystems during the 1st quarter valued at $63,000. FORA Capital LLC acquired a new position in shares of Pegasystems during the 1st quarter valued at $75,000. Finally, Guinness Atkinson Asset Management Inc lifted its holdings in shares of Pegasystems by 900.0% during the 1st quarter. Guinness Atkinson Asset Management Inc now owns 660 shares of the technology company’s stock valued at $75,000 after acquiring an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 46.67% of the company’s stock.

Shares of PEGA stock traded down $0.03 during trading hours on Thursday, reaching $135.94. 1,267 shares of the stock traded hands, compared to its average volume of 212,182. The firm has a market capitalization of $11.05 billion, a price-to-earnings ratio of -256.92 and a beta of 1.20. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.28 and a quick ratio of 2.28. The firm has a fifty day moving average of $130.02. Pegasystems Inc. has a 1-year low of $100.69 and a 1-year high of $148.80.

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

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

In related news, CFO Kenneth Stillwell sold 5,582 shares of the company’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $124.61, for a total transaction of $695,573.02. Following the completion of the sale, the chief financial officer now directly owns 10,155 shares of the company’s stock, valued at approximately $1,265,414.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 293 shares of the stock in a transaction on Wednesday, June 16th. The shares were sold at an average price of $132.89, for a total transaction of $38,936.77. Following the completion of the sale, the chief accounting officer now directly owns 2,461 shares of the company’s stock, valued at $327,042.29. The disclosure for this sale can be found here. Insiders sold 9,337 shares of company stock valued at $1,178,006 over the last three months. Insiders own 50.50% of the company’s stock.

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

Pegasystems 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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