Pegasystems Inc. (NASDAQ:PEGA) Short Interest Down 13.9% in June

Pegasystems Inc. (NASDAQ:PEGA) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,440,100 shares, a drop of 13.9% from the May 15th total of 1,672,200 shares. Approximately 4.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 320,900 shares, the short-interest ratio is presently 4.5 days.

In other news, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction on Friday, May 10th. The stock was sold at an average price of $70.00, for a total value of $35,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leon Trefler sold 772 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $71.95, for a total value of $55,545.40. Following the sale, the senior vice president now directly owns 12,710 shares of the company’s stock, valued at approximately $914,484.50. The disclosure for this sale can be found here. Insiders have sold 30,251 shares of company stock valued at $2,178,587 in the last three months. 52.37% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PEGA. Quantamental Technologies LLC grew its holdings in Pegasystems by 542.2% in the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock worth $27,000 after buying an additional 347 shares in the last quarter. Carroll Financial Associates Inc. acquired a new stake in Pegasystems in the second quarter worth approximately $108,000. SG Americas Securities LLC lifted its position in Pegasystems by 17.9% in the fourth quarter. SG Americas Securities LLC now owns 4,159 shares of the technology company’s stock worth $199,000 after purchasing an additional 631 shares during the period. Dubuque Bank & Trust Co. acquired a new stake in Pegasystems in the first quarter worth approximately $212,000. Finally, Great West Life Assurance Co. Can lifted its position in Pegasystems by 25.6% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,140 shares of the technology company’s stock worth $237,000 after purchasing an additional 1,048 shares during the period. 46.28% of the stock is owned by institutional investors and hedge funds.

NASDAQ:PEGA opened at $78.10 on Friday. The company’s 50 day moving average is $72.38. Pegasystems has a 52 week low of $43.21 and a 52 week high of $78.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.86 and a quick ratio of 1.86.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The business had revenue of $212.50 million during the quarter, compared to the consensus estimate of $237.63 million. During the same period last year, the company earned $0.24 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities research analysts anticipate that Pegasystems will post -0.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend is Friday, June 28th.

Several research analysts recently commented on PEGA shares. Benchmark reiterated a “buy” rating and issued a $80.00 price target (up previously from $72.00) on shares of Pegasystems in a research note on Wednesday, May 8th. BidaskClub cut ZIX from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 7th. JMP Securities upped their price objective on Pegasystems from $72.00 to $81.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 8th. UBS Group restated a “buy” rating and set a $25.00 price objective on shares of Infineon Technologies in a research note on Tuesday, May 7th. Finally, Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $79.20.

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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