Stock Traders Buy Large Volume of Call Options on Pegasystems (PEGA)

Pegasystems Inc. (NASDAQ:PEGA) was the target of some unusual options trading activity on Wednesday. Investors bought 1,257 call options on the company. This is an increase of 1,749% compared to the typical volume of 68 call options.

Shares of PEGA opened at $70.53 on Thursday. Pegasystems has a twelve month low of $43.21 and a twelve month high of $76.49. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 3,758.50 and a beta of 1.42.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.24). Pegasystems had a return on equity of 0.34% and a net margin of 1.19%. The company had revenue of $212.50 million for the quarter, compared to analyst estimates of $237.63 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 9.7% compared to the same quarter last year. Equities analysts anticipate that Pegasystems will post -0.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.12 annualized dividend and a yield of 0.17%.

PEGA has been the subject of several analyst reports. BidaskClub raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Wednesday, January 30th. Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price target for the company in a report on Tuesday, February 19th. Wedbush reissued an “outperform” rating and set a $66.86 price target on shares of Pegasystems in a report on Wednesday, April 10th. TheStreet raised shares of Pegasystems from a “c” rating to a “b-” rating in a report on Friday, March 22nd. Finally, UBS Group increased their price target on shares of Pegasystems to $78.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $79.20.

In other news, Director Larry Weber sold 1,000 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $65.99, for a total value of $65,990.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leon Trefler sold 1,464 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $73.67, for a total transaction of $107,852.88. Following the transaction, the senior vice president now directly owns 10,555 shares of the company’s stock, valued at $777,586.85. The disclosure for this sale can be found here. Insiders sold 52,403 shares of company stock valued at $3,421,274 over the last ninety days. Corporate insiders own 52.85% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PEGA. Bank of New York Mellon Corp grew its position in Pegasystems by 2.2% during the third quarter. Bank of New York Mellon Corp now owns 162,607 shares of the technology company’s stock worth $10,179,000 after buying an additional 3,557 shares during the period. TIAA CREF Investment Management LLC grew its position in Pegasystems by 10.8% during the third quarter. TIAA CREF Investment Management LLC now owns 177,381 shares of the technology company’s stock worth $11,104,000 after buying an additional 17,356 shares during the period. Vanguard Group Inc. grew its position in Pegasystems by 2.7% during the third quarter. Vanguard Group Inc. now owns 3,401,811 shares of the technology company’s stock worth $212,953,000 after buying an additional 90,839 shares during the period. Strs Ohio acquired a new position in Pegasystems during the fourth quarter worth about $289,000. Finally, We Are One Seven LLC acquired a new position in Pegasystems during the fourth quarter worth about $140,000. Institutional investors own 47.86% of the company’s stock.

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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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