Pegasystems Inc. (NASDAQ:PEGA) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 1,367,800 shares, a decrease of 5.0% from the May 30th total of 1,440,100 shares. Based on an average daily volume of 325,500 shares, the days-to-cover ratio is presently 4.2 days. Currently, 3.9% of the shares of the company are sold short.
PEGA has been the subject of a number of research reports. BidaskClub downgraded Zebra Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. Benchmark reiterated a “buy” rating and issued a $80.00 price objective (up previously from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. TheStreet downgraded Wayside Technology Group from a “b-” rating to a “c” rating in a research report on Wednesday, May 22nd. UBS Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Infineon Technologies in a research report on Tuesday, May 7th. Finally, JMP Securities raised their price objective on Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $79.20.
In related news, CAO Efstathios A. Kouninis sold 500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $70.00, for a total transaction of $35,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total value of $73,700.00. Following the sale, the chief financial officer now owns 6,369 shares of the company’s stock, valued at approximately $469,395.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,251 shares of company stock valued at $2,178,587. 52.37% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. SQN Investors LP increased its holdings in Pegasystems by 27.8% during the 4th quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock valued at $101,299,000 after purchasing an additional 460,938 shares in the last quarter. Norges Bank acquired a new stake in Pegasystems during the 4th quarter valued at $20,310,000. Riverbridge Partners LLC increased its holdings in Pegasystems by 36.9% during the 2nd quarter. Riverbridge Partners LLC now owns 1,065,549 shares of the technology company’s stock valued at $75,878,000 after purchasing an additional 287,448 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Pegasystems during the 1st quarter valued at $15,210,000. Finally, TimesSquare Capital Management LLC increased its holdings in Pegasystems by 19.3% during the 1st quarter. TimesSquare Capital Management LLC now owns 700,975 shares of the technology company’s stock valued at $45,563,000 after purchasing an additional 113,275 shares in the last quarter. Institutional investors and hedge funds own 46.28% of the company’s stock.
Shares of PEGA stock opened at $77.19 on Tuesday. The stock has a 50 day moving average price of $72.65. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.08. Pegasystems has a 12 month low of $43.21 and a 12 month high of $78.61.
Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.24). The company had revenue of $212.50 million for the quarter, compared to the consensus estimate of $237.63 million. Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. Pegasystems’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. On average, equities research analysts forecast that Pegasystems will post -0.65 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.12 annualized dividend and a dividend yield of 0.16%.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. 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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