Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Quent Capital LLC

Quent Capital LLC lifted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 79.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,426 shares of the technology company’s stock after buying an additional 5,500 shares during the period. Quent Capital LLC’s holdings in Pegasystems were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP acquired a new stake in Pegasystems during the first quarter worth $45,000. Tower Research Capital LLC TRC increased its position in shares of Pegasystems by 502.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,754 shares of the technology company’s stock worth $56,000 after purchasing an additional 1,463 shares during the last quarter. Gyon Technologies Capital Management LP purchased a new stake in Pegasystems in the 4th quarter valued at about $61,000. Castleview Partners LLC acquired a new position in Pegasystems in the first quarter valued at about $70,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Pegasystems during the first quarter worth about $87,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Down 2.6 %

NASDAQ PEGA traded down $1.15 on Friday, hitting $43.29. 401,391 shares of the stock were exchanged, compared to its average volume of 229,073. Pegasystems Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $59.23. The company has a 50-day moving average price of $50.11 and a 200-day moving average price of $47.88. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 3.43. The company has a market cap of $3.60 billion, a PE ratio of -28.11 and a beta of 1.03.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, July 26th. The technology company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.07). The business had revenue of $298.27 million during the quarter, compared to analysts’ expectations of $309.61 million. Pegasystems had a negative net margin of 9.80% and a negative return on equity of 59.82%. Sell-side analysts anticipate that Pegasystems Inc. will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

PEGA has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of Pegasystems from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, July 28th. Barclays raised their price target on Pegasystems from $41.00 to $47.00 and gave the stock an “underweight” rating in a research report on Friday, July 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Pegasystems in a report on Tuesday, August 29th. BNP Paribas upgraded Pegasystems from a “neutral” rating to an “outperform” rating and raised their target price for the company from $50.00 to $65.00 in a report on Wednesday, July 5th. Finally, Royal Bank of Canada boosted their price target on shares of Pegasystems from $55.00 to $65.00 in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $53.82.

Insider Activity 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 shares were 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 approximately $1,437,252.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Pegasystems news, insider Leon Trefler sold 811 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $52.61, for a total transaction of $42,666.71. Following the transaction, the insider now owns 27,319 shares of the company’s stock, valued at $1,437,252.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,890 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $46.65, for a total value of $88,168.50. Following the completion of the sale, the insider now directly owns 52,921 shares of the company’s stock, valued at $2,468,764.65. The disclosure for this sale can be found here. Insiders sold 4,975 shares of company stock valued at $245,240 over the last three months. 50.20% of the stock is owned by corporate insiders.

Pegasystems 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. 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.