Pegasystems Inc. (NASDAQ:PEGA) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 12.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,730 shares of the technology company’s stock after purchasing an additional 11,225 shares during the period. Kornitzer Capital Management Inc. KS owned 0.12% of Pegasystems worth $9,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Pegasystems by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 819,282 shares of the technology company’s stock valued at $59,895,000 after buying an additional 25,901 shares during the period. Fisher Asset Management LLC lifted its holdings in Pegasystems by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 484,296 shares of the technology company’s stock worth $35,397,000 after buying an additional 3,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Pegasystems by 3.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 322,424 shares of the technology company’s stock worth $23,566,000 after buying an additional 11,102 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Pegasystems by 82.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 178,058 shares of the technology company’s stock worth $16,556,000 after buying an additional 80,495 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in Pegasystems by 440.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company’s stock worth $10,770,000 after buying an additional 120,090 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insiders Place Their Bets

In other news, insider Leon Trefler sold 752 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the completion of the transaction, the insider now owns 37,973 shares of the company’s stock, valued at $3,563,006.59. The trade was a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the sale, the chief financial officer now owns 14,466 shares of the company’s stock, valued at approximately $1,528,043.58. The trade was a 12.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,003 shares of company stock worth $1,346,086. Insiders own 50.10% of the company’s stock.

Pegasystems Stock Up 1.2 %

Shares of NASDAQ:PEGA opened at $86.06 on Wednesday. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 62.82 and a beta of 1.11. The firm’s 50-day simple moving average is $98.85 and its 200-day simple moving average is $84.18. Pegasystems Inc. has a fifty-two week low of $54.55 and a fifty-two week high of $113.67.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. On average, research analysts forecast that Pegasystems Inc. will post 1.63 EPS for the current year.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Thursday, January 2nd. Pegasystems’s payout ratio is currently 11.88%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PEGA shares. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. Barclays reduced their price objective on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Rosenblatt Securities raised their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Citigroup raised their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $99.36.

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.