Pegasystems Inc. (NASDAQ:PEGA) Holdings Cut by Bares Capital Management Inc.

Bares Capital Management Inc. decreased its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 51.3% in the third quarter, HoldingsChannel reports. The firm owned 2,655,352 shares of the technology company’s stock after selling 2,792,514 shares during the quarter. Pegasystems makes up 17.7% of Bares Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest position. Bares Capital Management Inc.’s holdings in Pegasystems were worth $194,080,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. True Wealth Design LLC bought a new position in Pegasystems in the third quarter worth about $27,000. Venturi Wealth Management LLC grew its holdings in shares of Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Pegasystems in the 3rd quarter worth approximately $57,000. Capital Performance Advisors LLP purchased a new position in shares of Pegasystems in the 3rd quarter valued at approximately $67,000. Finally, Headlands Technologies LLC boosted its position in shares of Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after purchasing an additional 260 shares in the last quarter. 46.89% of the stock is currently owned by institutional investors.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now owns 17,262 shares in the company, valued at $1,263,060.54. This trade represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $72.00, for a total transaction of $54,144.00. Following the completion of the sale, the insider now owns 38,388 shares in the company, valued at approximately $2,763,936. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,415 shares of company stock valued at $1,667,761 over the last quarter. 50.10% of the stock is currently owned by company insiders.

Pegasystems Price Performance

Pegasystems stock opened at $94.41 on Tuesday. Pegasystems Inc. has a one year low of $44.07 and a one year high of $97.94. The business’s fifty day moving average is $82.94 and its 200 day moving average is $70.48. The stock has a market capitalization of $8.10 billion, a PE ratio of 68.91 and a beta of 1.09.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. The company had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. Pegasystems’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s payout ratio is 8.76%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wedbush raised their price objective on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Citigroup lifted their price target on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Rosenblatt Securities upped their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barclays lifted their target price on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Finally, StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Pegasystems currently has an average rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems Company 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.