Cumberland Partners Ltd Grows Stake in Pegasystems Inc. (NASDAQ:PEGA)

Cumberland Partners Ltd boosted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,000 shares of the technology company’s stock after acquiring an additional 4,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Pegasystems were worth $2,237,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PEGA. Foundry Partners LLC purchased a new stake in shares of Pegasystems during the 3rd quarter valued at about $9,567,000. Eagle Asset Management Inc. increased its holdings in Pegasystems by 440.5% during the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock valued at $10,770,000 after buying an additional 120,090 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in Pegasystems in the third quarter worth approximately $6,688,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Pegasystems by 709.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 97,563 shares of the technology company’s stock worth $7,131,000 after acquiring an additional 85,505 shares during the last quarter. Finally, Castleark Management LLC bought a new stake in shares of Pegasystems during the 3rd quarter valued at $6,096,000. Institutional investors own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 7,742 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $84.72, for a total transaction of $655,902.24. Following the transaction, the chief financial officer now owns 14,466 shares of the company’s stock, valued at approximately $1,225,559.52. The trade was a 34.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Leon Trefler sold 752 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $94.60, for a total value of $71,139.20. Following the sale, the insider now owns 36,884 shares in the company, valued at $3,489,226.40. The trade was a 2.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,745 shares of company stock valued at $2,001,989 over the last 90 days. 50.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup boosted their price target on Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased their target price on shares of Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. KeyCorp restated an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a research note on Tuesday, January 14th. Barclays dropped their price target on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Finally, StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $99.36.

Pegasystems Stock Down 2.2 %

PEGA opened at $84.17 on Thursday. The company has a market capitalization of $7.23 billion, a PE ratio of 83.34 and a beta of 1.11. The firm has a 50-day simple moving average of $98.69 and a two-hundred day simple moving average of $84.32. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. As a group, sell-side analysts expect that Pegasystems Inc. will post 1.87 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.14%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s dividend payout ratio is presently 11.88%.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.