State of New Jersey Common Pension Fund D lessened its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA – Free Report) by 20.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,446 shares of the technology company’s stock after selling 12,686 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Pegasystems worth $2,397,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in PEGA. Raymond James Financial Services Advisors Inc. acquired a new stake in Pegasystems during the 1st quarter worth $1,054,000. Bank of Montreal Can raised its stake in shares of Pegasystems by 79.9% in the 1st quarter. Bank of Montreal Can now owns 8,964 shares of the technology company’s stock valued at $728,000 after purchasing an additional 3,982 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Pegasystems in the 1st quarter valued at about $1,059,000. Acadian Asset Management LLC raised its stake in shares of Pegasystems by 55.5% in the 1st quarter. Acadian Asset Management LLC now owns 7,429 shares of the technology company’s stock valued at $598,000 after purchasing an additional 2,653 shares during the period. Finally, MetLife Investment Management LLC acquired a new stake in shares of Pegasystems in the 1st quarter valued at about $205,000. Institutional investors and hedge funds own 46.74% of the company’s stock.
Pegasystems Trading Up 0.3 %
Pegasystems stock opened at $56.36 on Wednesday. Pegasystems Inc. has a 52 week low of $29.05 and a 52 week high of $56.98. The company has a debt-to-equity ratio of 3.64, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $4.68 billion, a P/E ratio of -12.58 and a beta of 1.03. The stock has a 50-day simple moving average of $48.85 and a 200 day simple moving average of $45.09.
Pegasystems Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Friday, June 30th. Pegasystems’s dividend payout ratio is presently -2.68%.
Insider Transactions at Pegasystems
In other news, insider Leon Trefler sold 811 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $52.61, for a total transaction of $42,666.71. Following the completion of the sale, the insider now owns 27,319 shares in the company, valued at $1,437,252.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Leon Trefler sold 811 shares of Pegasystems stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $52.61, for a total value of $42,666.71. Following the completion of the sale, the insider now directly owns 27,319 shares in the company, valued at $1,437,252.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Rifat Kerim Akgonul sold 1,558 shares of Pegasystems stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $47.56, for a total transaction of $74,098.48. Following the completion of the sale, the insider now owns 52,718 shares of the company’s stock, valued at $2,507,268.08. The disclosure for this sale can be found here. Insiders sold a total of 7,363 shares of company stock worth $363,240 over the last quarter. Company insiders own 50.20% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Barclays lifted their price target on Pegasystems from $30.00 to $37.00 in a research note on Thursday, April 27th. DA Davidson assumed coverage on Pegasystems in a research note on Monday, June 5th. They issued a “neutral” rating and a $48.00 price target on the stock. StockNews.com started coverage on Pegasystems in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Rosenblatt Securities started coverage on Pegasystems in a report on Monday, May 8th. They issued a “buy” rating and a $56.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on Pegasystems from $55.00 to $58.00 in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.15.
About Pegasystems
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.
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