Cumberland Partners Ltd Invests $1.46 Million in Pegasystems Inc. (NASDAQ:PEGA)

Cumberland Partners Ltd acquired a new stake in Pegasystems Inc. (NASDAQ:PEGA) in the 3rd quarter, Holdings Channel reports. The fund acquired 20,000 shares of the technology company’s stock, valued at approximately $1,462,000.

Several other hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP increased its position in Pegasystems by 136.7% during the third quarter. GSA Capital Partners LLP now owns 40,066 shares of the technology company’s stock worth $2,928,000 after buying an additional 23,141 shares during the period. Versor Investments LP acquired a new position in shares of Pegasystems during the third quarter worth about $497,000. Venturi Wealth Management LLC raised its holdings in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Pegasystems by 110.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock valued at $1,842,000 after purchasing an additional 13,200 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Pegasystems during the 3rd quarter worth $67,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 528 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total value of $43,824.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the completion of the sale, the insider now directly owns 46,505 shares in the company, valued at $3,274,417.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. Insiders sold 41,093 shares of company stock valued at $3,042,389 over the last ninety days. 50.10% of the stock is owned by insiders.

Pegasystems Price Performance

NASDAQ:PEGA traded up $0.70 during mid-day trading on Tuesday, reaching $88.72. The stock had a trading volume of 40,354 shares, compared to its average volume of 545,308. The business’s 50 day moving average is $73.52 and its 200 day moving average is $66.14. Pegasystems Inc. has a fifty-two week low of $44.07 and a fifty-two week high of $88.90. The stock has a market cap of $7.61 billion, a P/E ratio of 64.25 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. Pegasystems’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share. Equities analysts expect that Pegasystems Inc. will post 1.61 EPS for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.14%. Pegasystems’s payout ratio is presently 8.76%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEGA. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $84.00 in a research report on Thursday, August 1st. Royal Bank of Canada boosted their target price on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. lifted their price target on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Citigroup boosted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, DA Davidson upped their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $85.90.

Pegasystems 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.