Kornitzer Capital Management Inc. KS Buys Shares of 91,505 Pegasystems Inc. (NASDAQ:PEGA)

Kornitzer Capital Management Inc. KS purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 91,505 shares of the technology company's stock, valued at approximately $6,688,000. Kornitzer Capital Management Inc. KS owned about 0.11% of Pegasystems at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company's stock worth $46,000 after purchasing an additional 756 shares during the last quarter. Headlands Technologies LLC raised its holdings in shares of Pegasystems by 64.0% during the first 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 last quarter. Financial Management Professionals Inc. purchased a new position in shares of Pegasystems during the third quarter worth $57,000. Covestor Ltd raised its holdings in shares of Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company's stock worth $80,000 after purchasing an additional 1,065 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Pegasystems during the second quarter worth $104,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Stock Up 0.6 %

Shares of NASDAQ PEGA traded up $0.54 during trading on Friday, hitting $86.67. The company had a trading volume of 314,506 shares, compared to its average volume of 547,693. The stock has a fifty day simple moving average of $72.55 and a two-hundred day simple moving average of $65.50. Pegasystems Inc. has a fifty-two week low of $44.00 and a fifty-two week high of $87.19. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 63.26 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 earnings per share. On average, analysts anticipate that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared 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 was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. Pegasystems's payout ratio is presently 8.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. DA Davidson lifted their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a "neutral" rating in a report on Friday, July 26th. JMP Securities raised shares of Pegasystems from a "market perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Pegasystems from $78.00 to $83.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Rosenblatt Securities lifted their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Barclays lifted their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the company an "equal weight" rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Pegasystems has an average rating of "Moderate Buy" and an average price target of $85.90.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 528 shares of the business'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 SEC, which is available through this hyperlink. In related news, CAO Efstathios A. Kouninis sold 528 shares of the business'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 SEC, which is available through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now owns 46,505 shares in the company, valued at $3,274,417.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,093 shares of company stock worth $3,042,389. 50.10% of the stock is owned by insiders.

Pegasystems Company 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.