Pegasystems Inc. (NASDAQ:PEGA) is Cadian Capital Management LP’s 4th Largest Position
Cadian Capital Management LP boosted its holdings in Pegasystems Inc. (NASDAQ:PEGA – Free Report) by 15.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,487,351 shares of the technology company’s stock after purchasing an additional 458,670 shares during the period. Pegasystems comprises 8.1% of Cadian Capital Management LP’s portfolio, making the stock its 4th largest position. Cadian Capital Management LP owned 4.19% of Pegasystems worth $171,926,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital Impact Advisors LLC lifted its holdings in Pegasystems by 4.6% during the 2nd quarter. Capital Impact Advisors LLC now owns 11,836 shares of the technology company’s stock worth $584,000 after buying an additional 521 shares during the last quarter. Capula Management Ltd raised its position in shares of Pegasystems by 12.9% during the 2nd quarter. Capula Management Ltd now owns 10,320 shares of the technology company’s stock worth $509,000 after purchasing an additional 1,180 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of Pegasystems during the 2nd quarter worth approximately $276,000. Treasurer of the State of North Carolina raised its position in shares of Pegasystems by 1.4% during the 2nd quarter. Treasurer of the State of North Carolina now owns 18,319 shares of the technology company’s stock worth $903,000 after purchasing an additional 250 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Pegasystems by 3.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 104,978 shares of the technology company’s stock worth $5,175,000 after purchasing an additional 3,142 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.
Analyst Upgrades and Downgrades
PEGA has been the topic of a number of research reports. Citigroup dropped their price target on Pegasystems from $70.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Pegasystems in a research report on Tuesday, August 29th. Barclays raised their target price on Pegasystems from $44.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, October 30th. StockNews.com upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Finally, DA Davidson lowered their target price on Pegasystems from $52.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.
Read Our Latest Research Report on PEGA
Insider Buying and Selling at Pegasystems
In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,890 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $46.65, for a total value of $88,168.50. Following the transaction, the insider now owns 52,921 shares in the company, valued at $2,468,764.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,261 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $52.40, for a total value of $66,076.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,890 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $46.65, for a total value of $88,168.50. Following the completion of the transaction, the insider now owns 52,921 shares in the company, valued at approximately $2,468,764.65. The disclosure for this sale can be found here. Insiders have sold 9,709 shares of company stock worth $493,092 over the last 90 days. 50.20% of the stock is currently owned by corporate insiders.
Pegasystems Stock Up 1.1 %
Shares of Pegasystems stock traded up $0.59 during midday trading on Friday, hitting $52.43. The company’s stock had a trading volume of 356,840 shares, compared to its average volume of 355,227. The firm has a market capitalization of $4.38 billion, a P/E ratio of -107.00 and a beta of 1.08. The stock has a 50-day simple moving average of $45.98 and a 200-day simple moving average of $47.79. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.98. Pegasystems Inc. has a 1-year low of $32.62 and a 1-year high of $59.23.
Pegasystems (NASDAQ:PEGA – Get Free Report) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.35) by $0.49. The business had revenue of $334.64 million during the quarter, compared to analysts’ expectations of $296.61 million. Pegasystems had a positive return on equity of 0.01% and a negative net margin of 2.97%. As a group, sell-side analysts expect that Pegasystems Inc. will post 0.46 earnings per share for the current year.
Pegasystems Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a $0.03 dividend. The ex-dividend date was Friday, September 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. Pegasystems’s dividend payout ratio (DPR) is currently -24.49%.
Pegasystems Profile (Free Report)
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. The company provides Pega Platform, an intelligent automation software for clients’ processes and workflows; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Pegasystems, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Pegasystems wasn’t on the list.
While Pegasystems currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s guide to pot stock investing and which pot companies show the most promise.