State Board of Administration of Florida Retirement System Reduces Holdings in Pegasystems Inc. (NASDAQ:PEGA)

State Board of Administration of Florida Retirement System decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGAGet Rating) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,541 shares of the technology company’s stock after selling 1,407 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Pegasystems were worth $2,370,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEGA. Signaturefd LLC grew its holdings in Pegasystems by 22.2% during the 1st quarter. Signaturefd LLC now owns 737 shares of the technology company’s stock worth $59,000 after acquiring an additional 134 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Pegasystems by 66.7% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 500 shares of the technology company’s stock worth $40,000 after acquiring an additional 200 shares in the last quarter. FDx Advisors Inc. grew its holdings in Pegasystems by 52.7% during the 1st quarter. FDx Advisors Inc. now owns 10,200 shares of the technology company’s stock worth $823,000 after acquiring an additional 3,519 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Pegasystems by 35.5% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 31,725 shares of the technology company’s stock worth $2,559,000 after acquiring an additional 8,308 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Pegasystems by 2.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 69,574 shares of the technology company’s stock worth $5,611,000 after acquiring an additional 1,345 shares in the last quarter. Hedge funds and other institutional investors own 46.48% of the company’s stock.

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 1,000 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $39.85, for a total transaction of $39,850.00. Following the sale, the chief accounting officer now directly owns 1,309 shares in the company, valued at approximately $52,163.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 50.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PEGA. Barclays lowered shares of Pegasystems from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $50.00 to $25.00 in a report on Tuesday, October 18th. The Goldman Sachs Group decreased their price target on shares of Pegasystems from $43.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, October 11th. Citigroup decreased their price target on shares of Pegasystems from $39.00 to $36.00 in a report on Friday, October 21st. Royal Bank of Canada decreased their price target on shares of Pegasystems from $80.00 to $65.00 in a report on Thursday, October 27th. Finally, StockNews.com began coverage on shares of Pegasystems in a report on Wednesday, October 12th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.90.

Pegasystems Trading Up 2.4 %

Shares of NASDAQ:PEGA opened at $38.17 on Wednesday. The company has a market cap of $3.14 billion, a PE ratio of -7.48 and a beta of 1.01. The company’s 50-day moving average price is $34.32 and its 200 day moving average price is $42.73. Pegasystems Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $121.42. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 9.13.

Pegasystems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 3rd were given a $0.03 dividend. The ex-dividend date was Friday, September 30th. This represents a $0.12 annualized dividend and a yield of 0.31%. Pegasystems’s dividend payout ratio is presently -2.35%.

About Pegasystems

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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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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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