Ellsworth Advisors LLC Takes Position in Pegasystems Inc. (NASDAQ:PEGA)

Ellsworth Advisors LLC purchased a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,819 shares of the technology company's stock, valued at approximately $571,000.

A number of other hedge funds also recently added to or reduced their stakes in PEGA. Essex Investment Management Co. LLC purchased a new position in Pegasystems in the 3rd quarter worth about $2,638,000. CWM LLC raised its holdings in shares of Pegasystems by 47.6% during the third quarter. CWM LLC now owns 31,306 shares of the technology company's stock valued at $2,288,000 after purchasing an additional 10,103 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Pegasystems during the second quarter valued at approximately $378,000. Seaport Global Advisors LLC lifted its position in Pegasystems by 83.9% during the second quarter. Seaport Global Advisors LLC now owns 15,200 shares of the technology company's stock valued at $920,000 after purchasing an additional 6,935 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in Pegasystems by 38.9% in the second quarter. Susquehanna Fundamental Investments LLC now owns 43,790 shares of the technology company's stock worth $2,651,000 after purchasing an additional 12,269 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Pegasystems Trading Down 0.4 %

Pegasystems stock traded down $0.27 during mid-day trading on Friday, hitting $73.25. The stock had a trading volume of 642,339 shares, compared to its average volume of 537,836. Pegasystems Inc. has a one year low of $37.66 and a one year high of $75.85. The firm has a market capitalization of $6.23 billion, a P/E ratio of 89.33 and a beta of 1.07. The firm's 50 day moving average is $69.74 and its 200 day moving average is $63.83.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm had revenue of $351.20 million during the quarter, compared to analysts' expectations of $323.55 million. During the same quarter last year, the business posted ($0.41) earnings per share. The firm's revenue was up 17.7% on a year-over-year basis. As a group, equities research analysts forecast that Pegasystems Inc. will post 1.54 earnings per share for the current 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 was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.16%. Pegasystems's dividend payout ratio is 14.63%.

Insider Activity at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total value of $73,170.00. Following the sale, the chief financial officer now directly owns 17,262 shares of the company's stock, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Efstathios A. Kouninis sold 750 shares of the company's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now owns 752 shares of the company's stock, valued at $54,211.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now directly owns 17,262 shares of the company's stock, valued at $1,263,060.54. 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 ninety days, insiders sold 45,955 shares of company stock valued at $3,206,247. Corporate insiders own 50.10% of the company's stock.

Analysts Set New Price Targets

PEGA has been the topic of several research analyst reports. Loop Capital raised Pegasystems from a "hold" rating to a "buy" rating and increased their price target for the company from $68.00 to $84.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Pegasystems from $78.00 to $83.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Monday, October 14th. The Goldman Sachs Group increased their price objective 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. Finally, Royal Bank of Canada boosted their target price on shares of Pegasystems from $77.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $83.60.

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.