Cumberland Partners Ltd Buys New Stake in Pegasystems Inc. (NASDAQ:PEGA)

Cumberland Partners Ltd purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the technology company's stock, valued at approximately $1,462,000.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in shares of 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 buying an additional 216 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company's stock valued at $46,000 after acquiring an additional 756 shares during the period. Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems in the third quarter worth $57,000. Headlands Technologies LLC increased its holdings in shares of Pegasystems by 64.0% during the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company's stock worth $56,000 after purchasing an additional 339 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in Pegasystems during the third quarter worth $67,000. Institutional investors and hedge funds own 46.89% of the company's stock.

Pegasystems Stock Up 1.6 %

Shares of PEGA traded up $1.37 during trading hours on Tuesday, reaching $89.39. 562,264 shares of the company traded hands, compared to its average volume of 547,685. Pegasystems Inc. has a fifty-two week low of $44.07 and a fifty-two week high of $89.61. The stock has a market capitalization of $7.67 billion, a PE ratio of 64.25 and a beta of 1.06. The stock has a fifty day simple moving average of $73.52 and a 200 day simple moving average of $66.14.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.14 earnings per share. Research analysts predict that Pegasystems Inc. will post 1.61 EPS for the current fiscal year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.13%. Pegasystems's dividend payout ratio is presently 8.76%.

Analyst Ratings Changes

A number of equities analysts recently commented on PEGA shares. StockNews.com raised shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Tuesday. JMP Securities upgraded shares of Pegasystems from a "market perform" rating to an "outperform" rating and set a $85.00 price target for the company in a research note on Wednesday, July 31st. William Blair raised shares of Pegasystems from a "market perform" rating to an "outperform" rating in a report on Tuesday, July 30th. DA Davidson increased their price objective on Pegasystems from $60.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on Pegasystems from $77.00 to $90.00 and gave the stock an "outperform" rating in a report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $85.90.

Insiders Place Their Bets

In related news, CAO Efstathios A. Kouninis sold 528 shares of the business's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Pegasystems news, CAO Efstathios A. Kouninis sold 528 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.00, for a total transaction of $43,824.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Leon Trefler sold 8,288 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $81.23, for a total value of $673,234.24. Following the sale, the insider now owns 37,636 shares in the company, valued at approximately $3,057,172.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,093 shares of company stock valued at $3,042,389. Corporate 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.