Pegasystems Inc. (NASDAQ:PEGA) Short Interest Update

Pegasystems Inc. (NASDAQ:PEGA) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 1,223,774 shares, a drop of 37.4% from the February 28th total of 1,954,430 shares. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 411,214 shares, the short-interest ratio is currently 3.0 days.

PEGA has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 target price for the company in a research note on Tuesday, February 19th. BidaskClub raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $84.00 target price (up previously from $80.00) on shares of Pegasystems in a report on Wednesday, February 27th. Finally, TheStreet upgraded shares of Pegasystems from a “c” rating to a “b-” rating in a research report on Friday, March 22nd. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $68.62.

In other news, Director Richard H. Jones sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.89, for a total value of $1,622,250.00. Following the transaction, the director now directly owns 297,537 shares in the company, valued at approximately $19,307,175.93. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Michael R. Pyle sold 1,500 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $56.63, for a total transaction of $84,945.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,039 shares of company stock valued at $3,471,800. Company insiders own 52.85% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of PEGA. Vanguard Group Inc grew its position in Pegasystems by 2.7% in the third quarter. Vanguard Group Inc now owns 3,401,811 shares of the technology company’s stock valued at $212,953,000 after acquiring an additional 90,839 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Pegasystems by 2.7% during the third quarter. Vanguard Group Inc. now owns 3,401,811 shares of the technology company’s stock valued at $212,953,000 after purchasing an additional 90,839 shares in the last quarter. SQN Investors LP boosted its stake in shares of Pegasystems by 27.8% during the fourth quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock valued at $101,299,000 after purchasing an additional 460,938 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Pegasystems by 2.0% during the fourth quarter. BlackRock Inc. now owns 1,732,682 shares of the technology company’s stock valued at $82,876,000 after purchasing an additional 34,732 shares in the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in shares of Pegasystems by 63.0% during the third quarter. Standard Life Aberdeen plc now owns 1,238,757 shares of the technology company’s stock valued at $77,608,000 after purchasing an additional 478,916 shares in the last quarter. Institutional investors own 48.02% of the company’s stock.

Shares of PEGA stock traded up $0.55 on Wednesday, reaching $74.22. The company had a trading volume of 365,316 shares, compared to its average volume of 374,580. The stock has a market cap of $5.82 billion, a PE ratio of 3,511.50 and a beta of 1.38. Pegasystems has a 12 month low of $43.21 and a 12 month high of $74.89.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, February 20th. The technology company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.20. Pegasystems had a net margin of 1.19% and a return on equity of 0.34%. The company had revenue of $256.36 million during the quarter, compared to analysts’ expectations of $252.71 million. During the same period last year, the business earned $0.45 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Analysts anticipate that Pegasystems will post -0.28 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, March 29th.

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Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. 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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