Cumberland Partners Ltd Has $2.24 Million Position in Pegasystems Inc. (NASDAQ:PEGA)

Cumberland Partners Ltd lifted its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 20.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund 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 reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James & Associates increased its position in Pegasystems by 166.8% in the 3rd quarter. Raymond James & Associates now owns 70,432 shares of the technology company's stock valued at $5,148,000 after acquiring an additional 44,035 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 buying an additional 85,505 shares in the last quarter. Eastern Bank bought a new position in Pegasystems in the 3rd quarter valued at $146,000. Private Advisor Group LLC acquired a new stake in shares of Pegasystems in the 3rd quarter valued at $310,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Pegasystems during the third quarter worth $207,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEGA has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Rosenblatt Securities raised their target price on shares of Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Citigroup upped their target price on shares of Pegasystems from $99.00 to $123.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Finally, KeyCorp reiterated an "overweight" rating and set a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pegasystems currently has a consensus rating of "Moderate Buy" and an average price target of $99.36.

Pegasystems Price Performance

PEGA stock traded down $3.10 during mid-day trading on Friday, reaching $78.40. The company had a trading volume of 488,337 shares, compared to its average volume of 1,003,047. Pegasystems Inc. has a 52 week low of $54.55 and a 52 week high of $113.67. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 77.72 and a beta of 1.11. The stock has a 50 day simple moving average of $98.16 and a two-hundred day simple moving average of $84.30.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. On average, equities analysts predict that Pegasystems Inc. will post 1.89 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.03 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.15%. Pegasystems's dividend payout ratio is 11.88%.

Insider Activity

In other news, insider Leon Trefler sold 752 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total transaction of $71,139.20. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth Stillwell sold 7,742 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $84.72, for a total value of $655,902.24. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,225,559.52. The trade was a 34.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,745 shares of company stock valued at $2,001,989 over the last three months. Insiders own 50.10% of the company's stock.

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.