Pegasystems Inc. (NASDAQ:PEGA) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in Pegasystems Inc. (NASDAQ:PEGA) by 124.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 97,427 shares of the technology company’s stock after acquiring an additional 54,058 shares during the period. Mackenzie Financial Corp’s holdings in Pegasystems were worth $5,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its position in Pegasystems by 15,120.0% in the 2nd quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock valued at $46,000 after buying an additional 756 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock valued at $56,000 after acquiring an additional 339 shares in the last quarter. Covestor Ltd increased its stake 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 acquiring an additional 1,065 shares during the period. Point72 Hong Kong Ltd purchased a new position in Pegasystems during the second quarter worth about $104,000. Finally, Picton Mahoney Asset Management acquired a new stake in Pegasystems in the second quarter valued at about $124,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Trading Up 1.2 %

Shares of NASDAQ PEGA opened at $73.09 on Tuesday. The company’s 50-day moving average price is $67.98 and its 200 day moving average price is $63.01. Pegasystems Inc. has a 52 week low of $37.66 and a 52 week high of $74.40. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 89.13 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. During the same period in the prior year, the business earned ($0.41) earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, research analysts expect that Pegasystems Inc. will post 1.54 earnings per share for the current year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date of this dividend is Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wedbush reissued an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a report on Monday, July 29th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Wednesday, July 31st. Barclays increased their price target on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Finally, DA Davidson boosted their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

Insiders Place Their Bets

In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $70.41, for a total value of $70,410.00. Following the sale, the insider now directly owns 46,505 shares in the company, valued at $3,274,417.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the sale, the chief accounting officer now directly owns 752 shares in the company, valued at $54,211.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total transaction of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares in the company, valued at approximately $3,274,417.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,203 shares of company stock valued at $3,078,933. Corporate insiders own 50.10% of the company’s stock.

Pegasystems 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.