First Trust Advisors LP grew its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 1,661.6% in the 4th quarter, Holdings Channel reports. The fund owned 147,781 shares of the technology company’s stock after buying an additional 139,392 shares during the quarter. First Trust Advisors LP’s holdings in Pegasystems were worth $7,068,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Pegasystems by 46.1% during the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after acquiring an additional 250 shares during the last quarter. Quantbot Technologies LP bought a new position in Pegasystems in the third quarter worth about $122,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Pegasystems by 22.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock worth $130,000 after buying an additional 495 shares in the last quarter. We Are One Seven LLC bought a new position in Pegasystems in the fourth quarter worth about $140,000. Finally, SG Americas Securities LLC raised its stake in Pegasystems by 17.9% in the fourth quarter. SG Americas Securities LLC now owns 4,159 shares of the technology company’s stock worth $199,000 after buying an additional 631 shares in the last quarter. 45.23% of the stock is owned by hedge funds and other institutional investors.
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In other Pegasystems news, CAO Efstathios A. Kouninis sold 465 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $65.50, for a total value of $30,457.50. Following the sale, the chief accounting officer now owns 1,527 shares in the company, valued at $100,018.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Michael R. Pyle sold 1,000 shares of the company’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,354 shares of company stock worth $951,475. Corporate insiders own 52.85% of the company’s stock.
Shares of PEGA opened at $64.35 on Thursday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 3,249.50 and a beta of 1.26. Pegasystems Inc. has a fifty-two week low of $43.21 and a fifty-two week high of $67.95.
Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 20th. The technology company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.20. The business had revenue of $256.36 million for the quarter, compared to analysts’ expectations of $252.71 million. Pegasystems had a net margin of 1.19% and a return on equity of 0.34%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts expect that Pegasystems Inc. will post -0.28 EPS for the current year.
PEGA has been the subject of a number of research reports. BidaskClub raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price target for the company in a research note on Tuesday, February 19th. Wedbush decreased their price target on shares of Pegasystems from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, November 8th. Finally, ValuEngine raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 30th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.75.
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Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.
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