Mackenzie Financial Corp Sells 8,661 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Mackenzie Financial Corp lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,246 shares of the technology company’s stock after selling 8,661 shares during the quarter. Mackenzie Financial Corp’s holdings in Pegasystems were worth $2,015,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Cornercap Investment Counsel Inc. boosted its position in Pegasystems by 7.8% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 21,820 shares of the technology company’s stock valued at $1,066,000 after acquiring an additional 1,572 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Pegasystems by 3.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock worth $46,227,000 after purchasing an additional 31,925 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Pegasystems by 75.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 4,634 shares of the technology company’s stock worth $226,000 after purchasing an additional 2,000 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Pegasystems in the 4th quarter worth $85,000. Finally, Oak Thistle LLC boosted its position in shares of Pegasystems by 59.1% in the 4th quarter. Oak Thistle LLC now owns 17,202 shares of the technology company’s stock worth $840,000 after purchasing an additional 6,390 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the sale, the chief financial officer now directly owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Pegasystems news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $64.20, for a total value of $48,278.40. Following the sale, the insider now directly owns 39,940 shares of the company’s stock, valued at $2,564,148. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 20,606 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the sale, the chief financial officer now owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The disclosure for this sale can be found here. Insiders have sold 43,792 shares of company stock worth $2,781,669 over the last quarter. 50.20% of the stock is currently owned by insiders.

Pegasystems Stock Up 2.0 %

Shares of PEGA opened at $59.30 on Wednesday. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $69.26. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 83.52 and a beta of 1.06. The stock’s 50-day moving average price is $62.93 and its 200-day moving average price is $52.90.

Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, February 14th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a return on equity of 39.30% and a net margin of 4.73%. The firm had revenue of $474.23 million for the quarter, compared to the consensus estimate of $428.76 million. On average, sell-side analysts predict that Pegasystems Inc. will post 1.49 EPS for the current year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were paid a $0.03 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.20%. Pegasystems’s payout ratio is 16.90%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEGA. Royal Bank of Canada raised their price objective on Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Barclays lowered their price objective on Pegasystems from $68.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. The Goldman Sachs Group raised their price objective on Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Rosenblatt Securities restated a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a research note on Tuesday. Finally, Wedbush restated an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.