Riverbridge Partners Lowers stake in Pegasystems (PEGA)

Pegasystems (PEGA) : Riverbridge Partners reduced its stake in Pegasystems by 5.28% during the most recent quarter end. The investment management company now holds a total of 1,489,314 shares of Pegasystems which is valued at $40,777,417 after selling 82,976 shares in Pegasystems , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Pegasystems makes up approximately 0.82% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in PEGA by selling 330 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 75,647 shares of PEGA which is valued at $2,071,215.Papp L Roy Associates boosted its stake in PEGA in the latest quarter, The investment management firm added 7,610 additional shares and now holds a total of 35,940 shares of Pegasystems which is valued at $1,001,648. Pegasystems makes up approx 0.23% of Papp L Roy Associates’s portfolio.Shaker Investmentsoh reduced its stake in PEGA by selling 9,000 shares or 7.68% in the most recent quarter. The Hedge Fund company now holds 108,200 shares of PEGA which is valued at $3,026,354. Pegasystems makes up approx 2.68% of Shaker Investmentsoh’s portfolio.Dalton Greiner Hartman Maher Co reduced its stake in PEGA by selling 166,332 shares or 32.03% in the most recent quarter. The Hedge Fund company now holds 352,925 shares of PEGA which is valued at $9,927,780. Pegasystems makes up approx 0.59% of Dalton Greiner Hartman Maher Co’s portfolio.

Pegasystems closed down -1.43 points or -5.22% at $25.95 with 7,88,927 shares getting traded on Thursday. Post opening the session at $24.71, the shares hit an intraday low of $24.71 and an intraday high of $26.67 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Pegasystems reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.15. The company had revenue of $188.99 million for the quarter, compared to analysts expectations of $185.19 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Pegasystems. Shares were Reiterated by Wedbush on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 32 from a previous price target of $34 .Company shares were Reiterated by Wedbush on May 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $33 .

Pegasystems Inc. develops markets licenses and supports software applications which is designed to assist clients in building deploying and evolving enterprise applications. The Company’s applications and platform intersect with and encompass several traditional software markets including Customer Relationship Management (CRM); Business Process Management (BPM); Business Rules Management Systems (BRMS); Dynamic Case Management (DCM); Decision Management which includes Predictive and Adaptive analytics and the Vertical Specific Software (VSS) market of industry solutions and packaged applications. The Company provides implementation consulting training technical support and hosting services to facilitate the use of its software. The Company offers its services to financial services healthcare insurance communications and media public sector manufacturing and life sciences markets.

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