Russell Investments Group Ltd. Takes $782,000 Position in Pegasystems Inc. (PEGA)

Russell Investments Group Ltd. bought a new position in Pegasystems Inc. (NASDAQ:PEGA) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,406 shares of the technology company’s stock, valued at approximately $782,000.

A number of other hedge funds have also recently modified their holdings of PEGA. Vanguard Group Inc. lifted its holdings in shares of Pegasystems by 3.8% during the first quarter. Vanguard Group Inc. now owns 2,781,884 shares of the technology company’s stock valued at $121,986,000 after acquiring an additional 102,071 shares during the period. BlackRock Inc. lifted its holdings in shares of Pegasystems by 68,220.8% during the first quarter. BlackRock Inc. now owns 2,292,845 shares of the technology company’s stock valued at $100,541,000 after acquiring an additional 2,289,489 shares during the period. TPG Group Holdings SBS Advisors Inc. lifted its holdings in shares of Pegasystems by 15.3% during the first quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,781,723 shares of the technology company’s stock valued at $78,129,000 after acquiring an additional 237,092 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Pegasystems by 4.9% during the first quarter. Wellington Management Group LLP now owns 1,019,585 shares of the technology company’s stock valued at $44,710,000 after acquiring an additional 47,580 shares during the period. Finally, Aberdeen Asset Management PLC UK lifted its holdings in shares of Pegasystems by 40.6% during the first quarter. Aberdeen Asset Management PLC UK now owns 989,114 shares of the technology company’s stock valued at $43,398,000 after acquiring an additional 285,380 shares during the period. 44.63% of the stock is owned by hedge funds and other institutional investors.

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Shares of Pegasystems Inc. (NASDAQ PEGA) traded up 0.98% during mid-day trading on Friday, hitting $56.50. The stock had a trading volume of 514,761 shares. The company has a market capitalization of $4.39 billion, a P/E ratio of 90.40 and a beta of 1.50. The stock’s 50-day moving average price is $56.62 and its 200 day moving average price is $53.09. Pegasystems Inc. has a 1-year low of $27.20 and a 1-year high of $64.85.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The business had revenue of $197.98 million for the quarter, compared to the consensus estimate of $205.06 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. Pegasystems’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Pegasystems Inc. will post $0.97 EPS for the current fiscal year.

In other Pegasystems news, Director Larry Weber sold 500 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $55.55, for a total value of $27,775.00. Following the completion of the transaction, the director now directly owns 2,454 shares in the company, valued at $136,319.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Efstathios A. Kouninis sold 448 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $56.51, for a total value of $25,316.48. Following the completion of the transaction, the vice president now owns 585 shares of the company’s stock, valued at $33,058.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,374 shares of company stock valued at $2,645,288. 53.61% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on PEGA. Mitsubishi UFJ Financial Group set a $57.00 price objective on Pegasystems and gave the company a “buy” rating in a report on Thursday, August 10th. BidaskClub cut Pegasystems from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Wedbush reissued an “outperform” rating and set a $60.00 price objective (down from $67.00) on shares of Pegasystems in a report on Tuesday, June 6th. JMP Securities reissued an “outperform” rating and set a $63.00 price objective (up from $55.00) on shares of Pegasystems in a report on Wednesday, June 7th. Finally, Zacks Investment Research cut Pegasystems from a “buy” rating to a “hold” rating in a report on Thursday, July 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $63.00.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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