Burgundy Asset Management Ltd. Invests $3.57 Million in Pegasystems Inc. (NASDAQ:PEGA)

Burgundy Asset Management Ltd. acquired a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 58,896 shares of the technology company’s stock, valued at approximately $3,565,000. Burgundy Asset Management Ltd. owned 0.07% of Pegasystems as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Optimist Retirement Group LLC boosted its holdings in Pegasystems by 5.0% during the 2nd quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after acquiring an additional 165 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Pegasystems by 28.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,760 shares of the technology company’s stock valued at $349,000 after acquiring an additional 1,273 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Pegasystems by 254.1% in the 2nd quarter. Edgestream Partners L.P. now owns 63,607 shares of the technology company’s stock worth $3,850,000 after buying an additional 45,646 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Pegasystems by 4.5% in the 2nd quarter. Renaissance Technologies LLC now owns 107,824 shares of the technology company’s stock worth $6,527,000 after buying an additional 4,600 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Pegasystems by 266.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after buying an additional 284,095 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Down 0.2 %

Shares of NASDAQ:PEGA opened at $66.35 on Thursday. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $72.74. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 80.92 and a beta of 1.07. The business has a 50-day moving average price of $66.17 and a 200-day moving average price of $62.60.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 period last year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that Pegasystems Inc. will post 1.54 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.18%. The ex-dividend date is Tuesday, October 1st. Pegasystems’s dividend payout ratio (DPR) is 14.63%.

Insider Buying and Selling

In related news, CAO Efstathios A. Kouninis sold 932 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $71.00, for a total transaction of $66,172.00. Following the sale, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at $142. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $59.78, for a total value of $119,560.00. Following the sale, the chief financial officer now directly owns 22,197 shares of the company’s stock, valued at $1,326,936.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 932 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the sale, the chief accounting officer now directly owns 2 shares in the company, valued at $142. The disclosure for this sale can be found here. Insiders have sold a total of 47,955 shares of company stock valued at $3,303,771 over the last ninety days. Company insiders own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. DA Davidson upped their target price on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Rosenblatt Securities boosted their price target on Pegasystems from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays boosted their price target on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price target on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pegasystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.60.

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.