Strs Ohio acquired a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,057 shares of the technology company’s stock, valued at approximately $289,000.
A number of other hedge funds have also recently modified their holdings of the stock. Bahl & Gaynor Inc. grew its position in shares of Pegasystems by 2.1% in the 3rd quarter. Bahl & Gaynor Inc. now owns 54,694 shares of the technology company’s stock valued at $3,424,000 after buying an additional 1,148 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Pegasystems by 68.8% in the 3rd quarter. SG Americas Securities LLC now owns 3,528 shares of the technology company’s stock valued at $221,000 after buying an additional 1,438 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Pegasystems in the 3rd quarter valued at about $122,000. Engineers Gate Manager LP bought a new stake in shares of Pegasystems in the 3rd quarter valued at about $200,000. Finally, Bank of New York Mellon Corp grew its position in shares of Pegasystems by 2.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 162,607 shares of the technology company’s stock valued at $10,179,000 after buying an additional 3,557 shares during the last quarter. Institutional investors and hedge funds own 45.85% of the company’s stock.
Get Pegasystems alerts:PEGA has been the topic of a number of analyst reports. Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 14th. ValuEngine upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 30th. BidaskClub upgraded Pegasystems from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Finally, Wedbush reduced their price target on Pegasystems from $80.00 to $78.00 and set an “outperform” rating on the stock in a research report on Thursday, November 8th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $70.20.
NASDAQ PEGA opened at $57.18 on Friday. Pegasystems Inc. has a 12 month low of $43.21 and a 12 month high of $67.95. The stock has a market capitalization of $4.48 billion, a price-to-earnings ratio of 259.91 and a beta of 1.26.
In other news, CFO Kenneth Stillwell sold 1,500 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $54.17, for a total value of $81,255.00. Following the transaction, the chief financial officer now directly owns 12,259 shares of the company’s stock, valued at approximately $664,070.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael R. Pyle sold 1,000 shares of the business’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. The disclosure for this sale can be found here. Insiders sold a total of 11,365 shares of company stock worth $600,203 over the last three months. 52.85% of the stock is owned by company insiders.
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About Pegasystems
Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.
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