Copeland Capital Management LLC Purchases Shares of 1,123,518 Pegasystems Inc. $PEGA

Copeland Capital Management LLC acquired a new position in Pegasystems Inc. (NASDAQ:PEGA) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,123,518 shares of the technology company’s stock, valued at approximately $47,817,000. Copeland Capital Management LLC owned 0.67% of Pegasystems at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Pegasystems in the 4th quarter valued at $28,000. EFG International AG bought a new stake in Pegasystems in the fourth quarter valued at about $32,000. Fifth Third Bancorp lifted its stake in Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares during the period. Bayforest Capital Ltd boosted its holdings in Pegasystems by 316.6% during the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock valued at $42,000 after purchasing an additional 535 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Pegasystems by 386.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after purchasing an additional 564 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Price Performance

PEGA opened at $32.16 on Friday. The stock has a market capitalization of $5.37 billion, a P/E ratio of 17.29 and a beta of 0.87. The company’s 50 day simple moving average is $32.67 and its 200-day simple moving average is $40.80. Pegasystems Inc. has a one year low of $28.66 and a one year high of $68.10.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 30.05% and a net margin of 20.04%.The business’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. As a group, analysts anticipate that Pegasystems Inc. will post 1.93 EPS for the current year.

Pegasystems Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. Citizens Jmp reiterated a “market outperform” rating and issued a $58.00 price target on shares of Pegasystems in a research report on Wednesday, June 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Pegasystems in a report on Tuesday, June 9th. Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. DA Davidson reaffirmed a “buy” rating and set a $55.00 price objective on shares of Pegasystems in a report on Wednesday, June 10th. Finally, Wedbush restated an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.30.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction on 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 sale, the insider owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. The trade was a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief accounting officer directly owned 2,894 shares in the company, valued at approximately $100,566.50. This trade represents a 20.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 6,795 shares of company stock worth $229,613. Corporate insiders own 48.40% of the company’s stock.

About Pegasystems

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.