4,037 Shares in Pegasystems Inc. (NASDAQ:PEGA) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,037 shares of the technology company’s stock, valued at approximately $295,000.

Other hedge funds have also added to or reduced their stakes in the company. Optimist Retirement Group LLC increased its holdings in shares of Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock valued at $208,000 after purchasing an additional 165 shares during the last quarter. New York State Teachers Retirement System grew its stake in Pegasystems by 5.4% in the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock valued at $300,000 after buying an additional 211 shares during the last quarter. Venturi Wealth Management LLC lifted 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 during the last quarter. Headlands Technologies LLC lifted its position in Pegasystems by 29.9% during the second quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock worth $68,000 after acquiring an additional 260 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Pegasystems by 2.3% during the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock worth $711,000 after acquiring an additional 262 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Up 1.2 %

NASDAQ:PEGA opened at $96.45 on Wednesday. The firm has a market capitalization of $8.27 billion, a PE ratio of 70.40 and a beta of 1.06. The stock’s 50-day simple moving average is $78.47 and its 200 day simple moving average is $68.38. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $96.68.

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

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a $0.03 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems’s dividend payout ratio is presently 8.76%.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 932 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $71.00, for a total value of $66,172.00. Following the sale, the chief accounting officer now owns 2 shares of the company’s stock, valued at $142. The trade was a 99.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 528 shares of Pegasystems stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,595 shares of company stock valued at $2,454,034. 50.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PEGA shares. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Wedbush raised their price target on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Loop Capital raised shares of Pegasystems from a “hold” rating to a “buy” rating and raised their target price for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Finally, Barclays boosted their price target on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.90.

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.