Contravisory Investment Management Inc. Sells 145 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Contravisory Investment Management Inc. lowered its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,309 shares of the technology company’s stock after selling 145 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Pegasystems were worth $315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in Pegasystems by 15,120.0% during the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after buying an additional 756 shares in the last quarter. Headlands Technologies LLC boosted its position in shares of Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after acquiring an additional 339 shares during the last quarter. Covestor Ltd grew its stake in Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock valued at $80,000 after acquiring an additional 1,065 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Pegasystems in the 2nd quarter valued at $104,000. Finally, Picton Mahoney Asset Management purchased a new stake in Pegasystems in the 2nd quarter worth $124,000. Institutional investors own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares in the company, valued at $54,211.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at $54,211.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,211.68. Following the completion of the sale, the insider now directly owns 38,412 shares of the company’s stock, valued at approximately $2,769,121.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,955 shares of company stock worth $3,206,247. 50.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PEGA. Wedbush restated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on Pegasystems from $77.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Citigroup upped their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Rosenblatt Securities reissued a “buy” rating and issued a $90.00 target price on shares of Pegasystems in a report on Tuesday. Finally, JMP Securities raised shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

Pegasystems Stock Up 0.2 %

NASDAQ PEGA opened at $73.84 on Friday. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $74.50. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of 90.05 and a beta of 1.07. The company has a fifty day moving average of $68.77 and a two-hundred day moving average of $63.44.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million during the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.41) EPS. Equities research analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. Pegasystems’s dividend payout ratio is 14.63%.

Pegasystems Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software 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 Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.