Cumberland Partners Ltd Increases Position in Pegasystems Inc. (NASDAQ:PEGA)

Cumberland Partners Ltd lifted its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 20.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 24,000 shares of the technology company’s stock after purchasing an additional 4,000 shares during the period. Cumberland Partners Ltd’s holdings in Pegasystems were worth $2,237,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEGA. Wealth Enhancement Advisory Services LLC raised its stake in shares of Pegasystems by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock valued at $783,000 after acquiring an additional 141 shares in the last quarter. Principal Securities Inc. increased its holdings in Pegasystems by 150.5% during the 4th quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after purchasing an additional 167 shares during the period. New York State Teachers Retirement System increased its holdings in Pegasystems by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after purchasing an additional 211 shares during the period. Venturi Wealth Management LLC raised its position in Pegasystems by 49.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Pegasystems by 4.9% in the 4th quarter. Sanctuary Advisors LLC now owns 4,667 shares of the technology company’s stock worth $435,000 after buying an additional 219 shares during the period. 46.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com upgraded Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Royal Bank of Canada boosted their price target on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. KeyCorp reaffirmed an “overweight” rating and issued a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Citigroup lifted their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, JMP Securities restated a “market outperform” rating and set a $110.00 target price on shares of Pegasystems in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 7,742 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $84.72, for a total transaction of $655,902.24. Following the sale, the chief financial officer now owns 14,466 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 299 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $96.90, for a total value of $28,973.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,745 shares of company stock valued at $2,001,989. Insiders own 50.10% of the company’s stock.

Pegasystems Trading Down 2.2 %

Shares of PEGA stock opened at $84.17 on Thursday. The company has a market cap of $7.23 billion, a PE ratio of 83.34 and a beta of 1.11. Pegasystems Inc. has a 12-month low of $54.55 and a 12-month high of $113.67. The business’s fifty day simple moving average is $98.69 and its 200-day simple moving average is $84.32.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, equities analysts forecast that Pegasystems Inc. will post 1.87 earnings per share for the current year.

Pegasystems Announces Dividend

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

About Pegasystems

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.