Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 110.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,195 shares of the technology company's stock after purchasing an additional 13,200 shares during the period. Crossmark Global Holdings Inc.'s holdings in Pegasystems were worth $1,842,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PEGA. Capital Performance Advisors LLP bought a new position in shares of Pegasystems during the third quarter worth about $67,000. Kornitzer Capital Management Inc. KS acquired a new position in Pegasystems during the 3rd quarter worth approximately $6,688,000. Greenwood Capital Associates LLC bought a new stake in shares of Pegasystems in the 3rd quarter valued at about $436,000. Cannon Global Investment Management LLC lifted its position in shares of Pegasystems by 103.3% during the 3rd quarter. Cannon Global Investment Management LLC now owns 10,570 shares of the technology company's stock valued at $773,000 after acquiring an additional 5,370 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Pegasystems by 19.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,306 shares of the technology company's stock worth $169,000 after purchasing an additional 374 shares in the last quarter. Institutional investors own 46.89% of the company's stock.

Pegasystems Stock Up 1.0 %

NASDAQ:PEGA traded up $0.92 on Wednesday, reaching $90.31. The stock had a trading volume of 623,222 shares, compared to its average volume of 548,034. Pegasystems Inc. has a 1-year low of $44.07 and a 1-year high of $91.54. The company has a market capitalization of $7.74 billion, a P/E ratio of 66.31 and a beta of 1.06. The stock has a fifty day moving average price of $73.95 and a 200-day moving average price of $66.33.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business had revenue of $325.10 million during the quarter, compared to analysts' expectations of $326.16 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given 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 0.13%. Pegasystems's payout ratio is presently 8.76%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PEGA shares. The Goldman Sachs Group increased their target price on shares of Pegasystems from $70.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, July 26th. William Blair raised Pegasystems from a "market perform" rating to an "outperform" rating in a report on Tuesday, July 30th. DA Davidson boosted their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, July 26th. Royal Bank of Canada raised 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. Finally, Barclays upped their target price on Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the transaction, the chief financial officer now owns 18,197 shares in the company, valued at approximately $1,229,207.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total transaction of $203,933.45. Following the completion of the sale, the chief financial officer now directly owns 18,197 shares in the company, valued at $1,229,207.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $71.00, for a total value of $53,250.00. Following the completion of the sale, the chief accounting officer now directly owns 2 shares in the company, valued at approximately $142. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,093 shares of company stock valued at $3,042,389. 50.10% of the stock is owned by corporate insiders.

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.