Mackenzie Financial Corp Grows Position in Pegasystems Inc. $PEGA

Mackenzie Financial Corp lifted its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 14.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 198,467 shares of the technology company’s stock after acquiring an additional 24,858 shares during the period. Mackenzie Financial Corp’s holdings in Pegasystems were worth $10,743,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PEGA. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pegasystems by 86.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,050,075 shares of the technology company’s stock valued at $219,231,000 after buying an additional 1,875,896 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Pegasystems during the 1st quarter valued at about $68,229,000. Teacher Retirement System of Texas lifted its position in Pegasystems by 151.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 1,516,532 shares of the technology company’s stock valued at $82,090,000 after acquiring an additional 913,349 shares during the period. Geode Capital Management LLC boosted its stake in Pegasystems by 104.1% during the second quarter. Geode Capital Management LLC now owns 1,779,093 shares of the technology company’s stock worth $96,316,000 after acquiring an additional 907,226 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Pegasystems by 253.4% in the second quarter. Acadian Asset Management LLC now owns 1,171,012 shares of the technology company’s stock worth $63,367,000 after purchasing an additional 839,681 shares during the period. Institutional investors own 46.89% of the company’s stock.

Pegasystems Price Performance

PEGA stock opened at $55.78 on Wednesday. The stock has a market capitalization of $9.47 billion, a P/E ratio of 37.44 and a beta of 1.09. Pegasystems Inc. has a 1-year low of $29.84 and a 1-year high of $68.10. The business has a fifty day moving average price of $57.86 and a 200-day moving average price of $54.87.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, October 21st. The technology company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.18 by $0.12. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.The company had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $351.95 million. During the same period last year, the firm posted $0.39 earnings per share. Pegasystems’s revenue was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.2%. Pegasystems’s payout ratio is currently 8.05%.

Insider Activity

In other Pegasystems news, insider Leon Trefler sold 14,865 shares of Pegasystems stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $63.40, for a total value of $942,441.00. Following the completion of the sale, the insider owned 118,799 shares of the company’s stock, valued at approximately $7,531,856.60. The trade was a 11.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 17,171 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $66.40, for a total value of $1,140,154.40. Following the transaction, the chief financial officer directly owned 127,826 shares in the company, valued at $8,487,646.40. The trade was a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 196,895 shares of company stock valued at $11,802,002 over the last three months. Corporate insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

PEGA has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a research report on Monday. Wall Street Zen downgraded Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 22nd. Barclays increased their target price on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Wedbush lifted their price target on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Finally, Rosenblatt Securities increased their price objective on shares of Pegasystems from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Pegasystems has a consensus rating of “Moderate Buy” and a consensus price target of $69.61.

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.