Mackenzie Financial Corp Has $8.63 Million Stock Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Mackenzie Financial Corp lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 29.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 92,554 shares of the technology company's stock after selling 38,050 shares during the period. Mackenzie Financial Corp owned about 0.11% of Pegasystems worth $8,626,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Pegasystems by 189.0% during the 4th quarter. Invesco Ltd. now owns 2,364,242 shares of the technology company's stock valued at $220,347,000 after acquiring an additional 1,546,281 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pegasystems by 23.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 860,361 shares of the technology company's stock valued at $80,188,000 after acquiring an additional 164,986 shares during the last quarter. Geode Capital Management LLC raised its stake in Pegasystems by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 825,762 shares of the technology company's stock valued at $76,983,000 after purchasing an additional 6,480 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Pegasystems by 0.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 807,671 shares of the technology company's stock valued at $75,275,000 after purchasing an additional 4,989 shares during the period. Finally, Shannon River Fund Management LLC raised its stake in Pegasystems by 1.3% during the 4th quarter. Shannon River Fund Management LLC now owns 798,356 shares of the technology company's stock valued at $74,407,000 after purchasing an additional 9,989 shares during the period. Institutional investors and hedge funds own 46.89% of the company's stock.

Pegasystems Stock Performance

Shares of NASDAQ:PEGA traded up $1.54 during midday trading on Friday, hitting $97.95. The company's stock had a trading volume of 1,169,833 shares, compared to its average volume of 758,173. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 96.98 and a beta of 1.14. The stock's 50 day simple moving average is $83.36 and its 200 day simple moving average is $88.55. Pegasystems Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $113.67.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date was Tuesday, April 1st. Pegasystems's dividend payout ratio is 5.83%.

Insiders Place Their Bets

In other news, CAO Efstathios A. Kouninis sold 500 shares of Pegasystems stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $99.25, for a total value of $49,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $78.31, for a total transaction of $156,620.00. Following the completion of the transaction, the chief financial officer now owns 13,765 shares of the company's stock, valued at $1,077,937.15. This trade represents a 12.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,020 shares of company stock worth $10,404,155 over the last quarter. Company insiders own 49.70% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PEGA. Royal Bank of Canada boosted their target price on shares of Pegasystems from $100.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Barclays reaffirmed a "positive" rating on shares of Pegasystems in a research note on Thursday, April 24th. DA Davidson upped their price target on shares of Pegasystems from $70.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Wall Street Zen raised shares of Pegasystems from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Finally, KeyCorp dropped their price target on shares of Pegasystems from $118.00 to $94.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.27.

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.