Crawford Investment Counsel Inc. increased its position in shares of Pegasystems Inc. (NASDAQ:PEGA – Get Rating) by 79.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 176,776 shares of the technology company’s stock after acquiring an additional 78,538 shares during the period. Crawford Investment Counsel Inc.’s holdings in Pegasystems were worth $14,257,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Riverbridge Partners LLC boosted its position in shares of Pegasystems by 5.9% in the 1st quarter. Riverbridge Partners LLC now owns 1,494,937 shares of the technology company’s stock valued at $120,567,000 after purchasing an additional 83,551 shares during the period. Capital Research Global Investors boosted its position in shares of Pegasystems by 4.7% in the 4th quarter. Capital Research Global Investors now owns 977,966 shares of the technology company’s stock valued at $109,356,000 after purchasing an additional 43,871 shares during the period. Fisher Asset Management LLC boosted its position in shares of Pegasystems by 0.3% in the 1st quarter. Fisher Asset Management LLC now owns 724,432 shares of the technology company’s stock valued at $58,426,000 after purchasing an additional 1,977 shares during the period. Geode Capital Management LLC boosted its position in shares of Pegasystems by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 554,628 shares of the technology company’s stock valued at $62,018,000 after purchasing an additional 14,831 shares during the period. Finally, Ranger Investment Management L.P. boosted its position in shares of Pegasystems by 7.1% in the 4th quarter. Ranger Investment Management L.P. now owns 449,071 shares of the technology company’s stock valued at $50,215,000 after purchasing an additional 29,717 shares during the period. 46.48% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
PEGA has been the subject of a number of research reports. Loop Capital decreased their price objective on Pegasystems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Friday, June 17th. Citigroup initiated coverage on Pegasystems in a research report on Thursday, September 1st. They set a “neutral” rating and a $39.00 price objective for the company. Wedbush lowered Pegasystems from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $95.00 to $40.00 in a research report on Thursday, July 28th. Royal Bank of Canada decreased their price objective on Pegasystems from $125.00 to $105.00 in a research report on Friday, June 3rd. Finally, Barclays reduced their price target on Pegasystems from $80.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Nine research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $66.00.
Pegasystems Stock Performance
Pegasystems (NASDAQ:PEGA – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The technology company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.36). The business had revenue of $274.34 million for the quarter, compared to the consensus estimate of $338.31 million. Pegasystems had a negative return on equity of 29.68% and a negative net margin of 31.10%. Pegasystems’s revenue was down 15.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) earnings per share. Sell-side analysts expect that Pegasystems Inc. will post -0.69 EPS for the current year.
Pegasystems Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, June 30th. Pegasystems’s payout ratio is -2.58%.
Pegasystems Company Profile
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. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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