Mackenzie Financial Corp Reduces Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Mackenzie Financial Corp lessened its holdings in Pegasystems Inc. (NASDAQ:PEGA) by 17.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Pegasystems by 6.6% in the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after buying an additional 310,242 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Pegasystems by 3.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock valued at $46,227,000 after buying an additional 31,925 shares during the last quarter. Federated Hermes Inc. increased its holdings in Pegasystems by 4.9% in the third quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock valued at $35,075,000 after buying an additional 37,880 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Pegasystems by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 318,002 shares of the technology company’s stock valued at $13,804,000 after buying an additional 10,653 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Pegasystems by 208.7% in the third quarter. Acadian Asset Management LLC now owns 238,501 shares of the technology company’s stock valued at $10,344,000 after buying an additional 161,234 shares during the last quarter. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Price Performance

Shares of PEGA opened at $59.30 on Wednesday. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. 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 firm has a 50-day simple moving average of $62.93 and a 200-day simple moving average of $52.90. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. The business had revenue of $474.23 million during the quarter, compared to the consensus estimate of $428.76 million. On average, equities research analysts anticipate that Pegasystems Inc. will post 1.49 earnings per share for the current year.

Pegasystems Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. Citigroup increased their target price on Pegasystems from $86.00 to $87.00 and gave the company a “buy” rating in a report on Friday, March 22nd. 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 report on Friday, February 16th. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, 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 report on Friday, February 16th. 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 stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $66.43, for a total value of $132,860.00. Following the completion of the sale, the chief financial officer now owns 16,000 shares in the company, valued at $1,062,880. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 395 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. Insiders sold a total of 43,792 shares of company stock worth $2,781,669 over the last 90 days. Company insiders own 50.20% 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.