Ellsworth Advisors LLC Has $772,000 Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Ellsworth Advisors LLC increased its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,284 shares of the technology company’s stock after acquiring an additional 465 shares during the period. Ellsworth Advisors LLC’s holdings in Pegasystems were worth $772,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Pegasystems during the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC raised its position in Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Pegasystems in the third quarter valued at $57,000. Capital Performance Advisors LLP bought a new position in shares of Pegasystems in the 3rd quarter valued at about $67,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Pegasystems during the 2nd quarter worth about $104,000. 46.89% of the stock is owned by institutional investors and hedge funds.

Pegasystems Stock Up 0.8 %

Shares of Pegasystems stock opened at $103.29 on Monday. The stock has a market capitalization of $8.86 billion, a price-to-earnings ratio of 75.39 and a beta of 1.09. Pegasystems Inc. has a twelve month low of $45.95 and a twelve month high of $105.34. The company has a 50-day simple moving average of $93.96 and a two-hundred day simple moving average of $78.03.

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

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. Pegasystems’s payout ratio is 8.76%.

Insider Transactions at Pegasystems

In other news, insider Leon Trefler sold 752 shares of the company’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 transaction of $70,560.16. Following the completion of the sale, the insider now owns 37,973 shares of the company’s stock, valued at approximately $3,563,006.59. This represents a 1.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total transaction of $43,824.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,914 shares of company stock valued at $2,414,935. 50.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PEGA. Rosenblatt Securities raised their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. KeyCorp reissued an “overweight” rating and set a $118.00 target price on shares of Pegasystems in a report on Tuesday, January 14th. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Wedbush upped their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.91.

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.