Pegasystems Inc. (NASDAQ:PEGA) Sees Large Decrease in Short Interest

Pegasystems Inc. (NASDAQ:PEGA) saw a large decline in short interest in November. As of November 29th, there was short interest totalling 1,040,000 shares, a decline of 10.3% from the November 14th total of 1,160,000 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average trading volume of 267,800 shares, the short-interest ratio is currently 3.9 days.

In other Pegasystems news, Director Richard H. Jones sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $68.55, for a total transaction of $205,650.00. Following the completion of the transaction, the director now owns 299,544 shares in the company, valued at approximately $20,533,741.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 438 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $78.00, for a total transaction of $34,164.00. Following the completion of the transaction, the chief accounting officer now owns 465 shares of the company’s stock, valued at approximately $36,270. The disclosure for this sale can be found here. Insiders have sold a total of 44,232 shares of company stock valued at $3,305,389 in the last quarter. 52.37% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the stock. BBVA USA Bancshares Inc. acquired a new stake in Pegasystems during the 3rd quarter worth $612,000. First Trust Advisors LP boosted its stake in Pegasystems by 274.4% during the 2nd quarter. First Trust Advisors LP now owns 143,384 shares of the technology company’s stock worth $10,210,000 after purchasing an additional 105,090 shares during the period. Envestnet Asset Management Inc. boosted its stake in Pegasystems by 34.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 29,124 shares of the technology company’s stock worth $2,074,000 after purchasing an additional 7,519 shares during the period. California Public Employees Retirement System boosted its stake in Pegasystems by 21.2% during the 3rd quarter. California Public Employees Retirement System now owns 83,392 shares of the technology company’s stock worth $5,675,000 after purchasing an additional 14,568 shares during the period. Finally, Bank of America Corp DE boosted its stake in Pegasystems by 4.5% during the 2nd quarter. Bank of America Corp DE now owns 173,421 shares of the technology company’s stock worth $12,350,000 after purchasing an additional 7,394 shares during the period. Hedge funds and other institutional investors own 45.58% of the company’s stock.

Shares of Pegasystems stock traded up $0.96 during trading hours on Friday, hitting $76.27. The company had a trading volume of 132,123 shares, compared to its average volume of 221,267. The company’s 50-day moving average is $75.83 and its two-hundred day moving average is $73.31. Pegasystems has a twelve month low of $43.21 and a twelve month high of $79.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.11.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Thursday, November 7th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.23). Pegasystems had a negative net margin of 8.41% and a negative return on equity of 14.16%. The business had revenue of $216.70 million during the quarter, compared to analysts’ expectations of $216.68 million. During the same quarter in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Pegasystems will post -0.92 EPS for the current fiscal year.

Several brokerages have recently issued reports on PEGA. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. DA Davidson upped their target price on shares of Pegasystems to $95.00 and gave the company a “buy” rating in a report on Thursday, November 21st. ValuEngine cut shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, BidaskClub cut shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $82.67.

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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