Pegasystems Inc. (NASDAQ:PEGA) Short Interest Down 19.8% in August

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Pegasystems Inc. (NASDAQ:PEGA) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 917,600 shares, a decrease of 19.8% from the July 31st total of 1,144,300 shares. Based on an average daily trading volume, of 305,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 2.5% of the shares of the stock are short sold.

A number of research firms have recently issued reports on PEGA. Wedbush upped 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. Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 10th. TheStreet cut shares of Pegasystems from a “b-” rating to a “c” rating in a research report on Wednesday, May 22nd. Finally, BidaskClub cut shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $80.20.

Shares of PEGA stock traded down $1.15 on Friday, hitting $71.00. 160,258 shares of the stock traded hands, compared to its average volume of 336,897. The firm’s 50-day moving average price is $71.65 and its two-hundred day moving average price is $70.73. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.10. Pegasystems has a twelve month low of $43.21 and a twelve month high of $79.67.

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

In other news, Director Richard H. Jones sold 3,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $70.83, for a total transaction of $212,490.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 564 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $72.43, for a total transaction of $40,850.52. Following the sale, the chief accounting officer now directly owns 1,612 shares of the company’s stock, valued at approximately $116,757.16. The disclosure for this sale can be found here. Insiders have sold 28,208 shares of company stock valued at $2,045,067 in the last ninety days. Insiders own 52.37% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Quantamental Technologies LLC boosted its position in shares of Pegasystems by 542.2% during the 1st quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock valued at $27,000 after acquiring an additional 347 shares during the last quarter. Captrust Financial Advisors acquired a new position in Pegasystems in the second quarter valued at about $32,000. Cutler Group LP acquired a new position in Pegasystems in the second quarter valued at about $43,000. Steward Partners Investment Advisory LLC acquired a new position in Pegasystems in the second quarter valued at about $53,000. Finally, Tower Research Capital LLC TRC lifted its position in Pegasystems by 352.3% in the second quarter. Tower Research Capital LLC TRC now owns 977 shares of the technology company’s stock valued at $70,000 after buying an additional 761 shares during the last quarter. 46.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Strike Price

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