L. Roy Papp & Associates LLP Decreases Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

L. Roy Papp & Associates LLP lessened its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,110 shares of the technology company’s stock after selling 700 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Pegasystems were worth $1,762,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc grew its position in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares during the last quarter. Headlands Technologies LLC raised its stake in Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after acquiring an additional 339 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Pegasystems during the 3rd quarter worth about $57,000. Covestor Ltd grew its stake in Pegasystems by 633.9% during the 1st quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Pegasystems in the second quarter valued at about $104,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the sale, the chief financial officer now directly owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now directly owns 17,262 shares in the company, valued at $1,263,060.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,955 shares of company stock worth $3,136,247 in the last 90 days. Insiders own 50.10% of the company’s stock.

Pegasystems Price Performance

PEGA stock traded up $0.07 during mid-day trading on Friday, reaching $80.03. 1,463,714 shares of the company’s stock were exchanged, compared to its average volume of 549,402. Pegasystems Inc. has a 12-month low of $38.94 and a 12-month high of $82.22. The stock’s 50 day moving average is $70.44 and its 200 day moving average is $64.25. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 97.60 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 EPS. On average, research analysts forecast that Pegasystems Inc. will post 1.54 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.15%. Pegasystems’s dividend payout ratio is currently 14.63%.

Analyst Ratings Changes

PEGA has been the subject of a number of research reports. Citigroup lifted their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price objective on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Wednesday, July 31st. Finally, Wedbush upped their price target on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

Pegasystems Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software 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 Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.