Parkside Financial Bank & Trust Increases Stake in Pegasystems Inc. (NASDAQ:PEGA)

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Parkside Financial Bank & Trust grew its position in Pegasystems Inc. (NASDAQ:PEGA) by 1,102.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,094 shares of the technology company’s stock after acquiring an additional 1,003 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Pegasystems were worth $78,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in Pegasystems by 1.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,322,737 shares of the technology company’s stock worth $94,192,000 after acquiring an additional 18,373 shares in the last quarter. Eagle Asset Management Inc. grew its holdings in Pegasystems by 0.3% during the 1st quarter. Eagle Asset Management Inc. now owns 1,204,101 shares of the technology company’s stock worth $78,266,000 after acquiring an additional 3,919 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in Pegasystems by 8.7% during the 1st quarter. Carillon Tower Advisers Inc. now owns 1,159,069 shares of the technology company’s stock worth $75,339,000 after acquiring an additional 93,238 shares in the last quarter. FMR LLC grew its holdings in Pegasystems by 8.6% during the 1st quarter. FMR LLC now owns 1,080,075 shares of the technology company’s stock worth $70,205,000 after acquiring an additional 85,576 shares in the last quarter. Finally, Riverbridge Partners LLC grew its holdings in Pegasystems by 36.9% during the 2nd quarter. Riverbridge Partners LLC now owns 1,065,549 shares of the technology company’s stock worth $75,878,000 after acquiring an additional 287,448 shares in the last quarter. 44.96% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Richard H. Jones sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $70.83, for a total value of $212,490.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James P. Ohalloran sold 6,209 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $72.13, for a total transaction of $447,855.17. Following the completion of the sale, the director now owns 114,343 shares in the company, valued at $8,247,560.59. The disclosure for this sale can be found here. Insiders sold a total of 34,392 shares of company stock worth $2,504,706 over the last 90 days. Company insiders own 52.37% of the company’s stock.

Several research analysts have issued reports on PEGA shares. Zacks Investment Research upgraded shares of Pegasystems from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 10th. Wedbush increased their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. JMP Securities increased their target price on shares of Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 8th. TheStreet cut shares of Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, May 22nd. Finally, UBS Group increased their target price on shares of Pegasystems to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $80.20.

Shares of NASDAQ:PEGA traded up $0.91 during trading on Friday, reaching $71.05. The stock had a trading volume of 4,345 shares, compared to its average volume of 333,586. Pegasystems Inc. has a one year low of $43.21 and a one year high of $79.67. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $73.98 and its 200 day simple moving average is $69.47.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.17). Pegasystems had a negative net margin of 5.95% and a negative return on equity of 9.39%. The firm had revenue of $205.60 million during the quarter, compared to the consensus estimate of $203.16 million. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts anticipate that Pegasystems Inc. will post -0.77 earnings per share for the current fiscal year.

About Pegasystems

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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Institutional Ownership by Quarter for Pegasystems (NASDAQ:PEGA)

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