Harvest Fund Management Co. Ltd Buys New Stake in Pegasystems Inc. (NASDAQ:PEGA)

Harvest Fund Management Co. Ltd bought a new stake in shares of Pegasystems Inc. (NASDAQ:PEGA) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 913 shares of the technology company’s stock, valued at approximately $44,000.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in Pegasystems by 219.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 530 shares of the technology company’s stock valued at $26,000 after acquiring an additional 364 shares in the last quarter. CWM LLC grew its stake in shares of Pegasystems by 80.1% in the 3rd quarter. CWM LLC now owns 1,160 shares of the technology company’s stock worth $50,000 after buying an additional 516 shares in the last quarter. New York State Teachers Retirement System purchased a new position in shares of Pegasystems in the 4th quarter worth $85,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Pegasystems in the 3rd quarter worth $91,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Pegasystems in the 3rd quarter worth $114,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total value of $25,576.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Leon Trefler sold 1,504 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $63.80, for a total value of $95,955.20. Following the completion of the sale, the insider now owns 35,533 shares in the company, valued at approximately $2,267,005.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 395 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. Insiders sold 43,792 shares of company stock worth $2,781,669 in the last 90 days. 50.20% of the stock is owned by corporate insiders.

Pegasystems Price Performance

Shares of PEGA opened at $61.80 on Friday. Pegasystems Inc. has a 1-year low of $37.66 and a 1-year high of $69.26. The company has a 50-day moving average of $62.83 and a 200 day moving average of $53.12. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 75.37 and a beta of 1.06.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.64. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. The company had revenue of $474.23 million during the quarter, compared to analyst estimates of $428.76 million. On average, equities analysts anticipate that Pegasystems Inc. will post 1.49 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. Pegasystems’s payout ratio is 14.63%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PEGA shares. DA Davidson reissued a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Monday, March 4th. Citigroup lifted their price objective on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a research note on Tuesday. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. Finally, The Goldman Sachs Group raised their target price on shares of Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.33.

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.