Cerity Partners LLC Acquires 10,806 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Cerity Partners LLC grew its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 149.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,056 shares of the technology company’s stock after buying an additional 10,806 shares during the period. Cerity Partners LLC’s holdings in Pegasystems were worth $1,320,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after purchasing an additional 216 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Pegasystems in the 3rd quarter worth $57,000. Capital Performance Advisors LLP bought a new position in shares of Pegasystems in the 3rd quarter worth $67,000. Headlands Technologies LLC lifted its holdings in shares of Pegasystems by 29.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after purchasing an additional 260 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Pegasystems in the 2nd quarter worth $104,000. 46.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $94.60, for a total value of $189,200.00. Following the sale, the chief financial officer now directly owns 15,400 shares of the company’s stock, valued at approximately $1,456,840. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $72.00, for a total value of $54,144.00. Following the completion of the sale, the insider now directly owns 38,388 shares in the company, valued at $2,763,936. This trade represents a 1.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,415 shares of company stock valued at $1,667,761 in the last ninety days. Company insiders own 50.10% of the company’s stock.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $95.51 on Wednesday. The business’s 50 day simple moving average is $81.06 and its two-hundred day simple moving average is $69.52. The stock has a market capitalization of $8.19 billion, a P/E ratio of 69.72 and a beta of 1.09. Pegasystems Inc. has a one year low of $44.07 and a one year high of $97.00.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. Sell-side analysts expect that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.03 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.13%. Pegasystems’s dividend payout ratio (DPR) is currently 8.76%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PEGA. Citigroup increased their price target on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Barclays increased their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Rosenblatt Securities increased their price target on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Finally, Wedbush increased their price target on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.90.

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.