Institutional Move: Pegasystems INC (PEGA) Holder Cadian Capital Management LP Lifted Its Holding as Share Value Rose

Institutional Move: Pegasystems INC (PEGA) Holder Cadian Capital Management LP Lifted Its Holding as Share Value Rose

Eric Bannasch increased its stake in Pegasystems Inc (PEGA) by 144.09% based on its latest 2016Q3 regulatory filing with the SEC. Cadian Capital Management Lp bought 1.75 million shares as the company’s stock rose 10.74% with the market. The hedge fund run by Eric Bannasch held 2.96M shares of the edp services company at the end of 2016Q3, valued at $87.30 million, up from 1.21 million at the end of the previous reported quarter. Cadian Capital Management Lp who had been investing in Pegasystems Inc for a number of months, seems to be bullish on the $2.77B market cap company. The stock closed at $36 during the last session. It is down 28.89% since June 7, 2016 and is uptrending. It has outperformed by 21.47% the S&P500.

Cadian Capital Management Lp, which manages about $5.56B and $1.90 billion US Long portfolio, decreased its stake in Aetna Inc New (NYSE:AET) by 247,536 shares to 400,944 shares, valued at $46.29 million in 2016Q3, according to the filing. It also reduced its holding in Wright Med Group N V by 400,000 shares in the quarter, leaving it with 529,458 shares, and cut its stake in Genmark Diagnostics Inc (NASDAQ:GNMK).

Cadian Capital focuses on technology, media, and telecommunications funds. It brought in an annualized return of 11.95% between the time it was formed in October 2007 and January 2012. It posted a standard deviation a little on the high side during that period at 17.75%. Cadian Capital has posted the following statistics: down 9.2% in 2008, a return in 2009 of 25.65%, 2010 returning 25.78%, and 2011 posting a return of 0.53%. Cadian Capital was founded by Eric Bannassh, who formerly worked as a portfolio manager at Richard Perry’s Perry Capital. Bannasch supports a longer term approach to investing when dealing with small and mid-cap companies. He holds an MBA from Stanford that he earned in 2003.

Insitutional Activity: The institutional sentiment decreased to 0.67 in Q3 2016. Its down 0.16, from 0.83 in 2016Q2. The ratio turned negative, as 25 funds sold all PEGA shares owned while 53 reduced positions. 12 funds bought stakes while 40 increased positions. They now own 32.38 million shares or 5.14% more from 30.80 million shares in 2016Q2. Sei Investments holds 24,252 shares or 0% of its portfolio. Blackrock Mngmt Limited Liability Corp accumulated 0% or 136,840 shares. National Bank & Trust Of New York Mellon Corporation reported 240,618 shares or 0% of all its holdings. Ameriprise Financial Inc accumulated 36,342 shares or 0% of the stock. Dalton Greiner Hartman Maher & Communications, a New York-based fund reported 169,436 shares. Barclays Public Limited Co holds 2,366 shares or 0% of its portfolio. Blackrock Limited Liability Com last reported 19,181 shares in the company. Vanguard Group Inc has invested 0% of its portfolio in Pegasystems Inc. (NASDAQ:PEGA). Metropolitan Life Company Ny owns 24,819 shares or 0.01% of their US portfolio. Federated Pa has invested 0% of its portfolio in Pegasystems Inc. (NASDAQ:PEGA). Geode Cap Management Limited Com reported 280,360 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Stanley last reported 11,611 shares in the company. Moreover, Sg Americas Securities Limited Liability Corporation has 0% invested in Pegasystems Inc. (NASDAQ:PEGA) for 5,495 shares. Price T Rowe Assoc Md accumulated 0% or 573,520 shares.

Insider Transactions: Since July 12, 2016, the stock had 0 buys, and 35 selling transactions for $1.86 million net activity. Shares for $15,102 were sold by JONES RICHARD H. WEBER LARRY sold $50,300 worth of stock. Shares for $22,418 were sold by KRA DOUGLAS I. 558 shares were sold by KOUNINIS EFSTATHIOS A, worth $20,019 on Wednesday, December 7. 4,313 shares were sold by Trefler Leon, worth $142,890 on Monday, November 7. $466,097 worth of Pegasystems Inc. (NASDAQ:PEGA) was sold by WYMAN WILLIAM W on Friday, September 16. The insider KAPLAN STEVEN F sold 9,416 shares worth $241,050.

More notable recent Pegasystems Inc. (NASDAQ:PEGA) news were published by: Fool.com which released: “Why Pegasystems, Inc. Stock Skyrocketed 31.5% in 2016” on January 07, 2017, also Fool.com with their article: “Why Pegasystems Inc. Stock Popped 16.8% in November” published on December 09, 2016, Fool.com published: “Pegasystems Inc. Maintains Sales Momentum” on November 03, 2016. More interesting news about Pegasystems Inc. (NASDAQ:PEGA) were released by: Fool.com and their article: “Why Pegasystems Inc. Rose 13% in October” published on November 11, 2015 as well as Fool.com‘s news article titled: “Pegasystems Inc. Posts Steady Growth Despite Industry Volatility” with publication date: August 04, 2016.

According to Zacks Investment Research, “Pegasystems Inc. is a leading provider of Customer Relationship Management software that enables transaction-intensive organizations to manage a broad array of customer interactions. Their software enables organizations to deliver high-quality, consistent customer service across today’s preferred interaction channels, from the traditional call center environment to Internet self-service. The company’s customers represent a wide range of industries, including banking and financial services, insurance, healthcare management, and telecommunications.”

Pegasystems Inc. (NASDAQ:PEGA) Ratings Coverage

Out of 4 analysts covering Pegasystems (NASDAQ:PEGA), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Pegasystems has been the topic of 8 analyst reports since September 11, 2015 according to StockzIntelligence Inc. The rating was maintained by Wedbush with “Outperform” on Wednesday, December 21. As per Wednesday, October 28, the company rating was maintained by Benchmark. JMP Securities initiated Pegasystems Inc. (NASDAQ:PEGA) rating on Friday, September 11. JMP Securities has “Mkt Outperform” rating and $31 price target. As per Thursday, November 3, the company rating was maintained by Wedbush. The stock of Pegasystems Inc. (NASDAQ:PEGA) earned “Hold” rating by Benchmark on Friday, February 26. The firm has “Neutral” rating given on Monday, November 14 by Sidoti.

PEGA Company Profile

Pegasystems Inc., incorporated on April 21, 1983, develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Firm also offers software applications built on the Pega 7 platform. The Company’s software 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 Firm provides implementation, consulting, training, technical support and hosting services to facilitate the use of its software. The Firm offers its services to financial, healthcare, insurance, communications and media, public sector, manufacturing, life sciences and other markets.

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