Copeland Capital Management LLC Makes New Investment in Pegasystems Inc. $PEGA

Copeland Capital Management LLC purchased a new position in shares of Pegasystems Inc. (NASDAQ:PEGA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,123,518 shares of the technology company’s stock, valued at approximately $47,817,000.

A number of other large investors have also made changes to their positions in PEGA. NewEdge Advisors LLC grew its stake in Pegasystems by 141,900.0% in the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company’s stock valued at $296,000 after acquiring an additional 4,257 shares during the period. Jones Financial Companies Lllp grew its position in shares of Pegasystems by 450.4% in the 1st quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company’s stock valued at $128,000 after purchasing an additional 1,509 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Pegasystems by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company’s stock valued at $17,253,000 after purchasing an additional 13,075 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Pegasystems by 18.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company’s stock worth $10,830,000 after purchasing an additional 23,713 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in Pegasystems by 55.0% during the 1st quarter. Focus Partners Wealth now owns 5,476 shares of the technology company’s stock worth $381,000 after purchasing an additional 1,943 shares in the last quarter. Institutional investors own 46.89% of the company’s stock.

Insiders Place Their Bets

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the completion of the sale, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 6,795 shares of company stock worth $229,613. 48.40% of the stock is owned by corporate insiders.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $32.16 on Friday. Pegasystems Inc. has a fifty-two week low of $28.66 and a fifty-two week high of $68.10. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of 17.29 and a beta of 0.87. The business has a 50-day moving average of $32.67 and a 200-day moving average of $40.80.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). The company had revenue of $429.97 million during the quarter, compared to the consensus estimate of $473.24 million. Pegasystems had a net margin of 20.04% and a return on equity of 30.05%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 earnings per share. On average, sell-side analysts expect that Pegasystems Inc. will post 1.93 EPS for the current year.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PEGA. Citizens Jmp reiterated a “market outperform” rating and issued a $58.00 price target on shares of Pegasystems in a report on Wednesday, June 10th. Zacks Research downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Citigroup reiterated a “market outperform” rating on shares of Pegasystems in a report on Wednesday, June 10th. Rosenblatt Securities restated a “buy” rating and issued a $58.00 target price on shares of Pegasystems in a research note on Thursday. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.30.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.