Pegasystems Inc. (NASDAQ:PEGA) Shares Sold by Harber Asset Management LLC

Harber Asset Management LLC reduced its position in Pegasystems Inc. (NASDAQ:PEGA) by 38.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,787 shares of the technology company’s stock after selling 180,401 shares during the period. Pegasystems comprises 6.4% of Harber Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Harber Asset Management LLC’s holdings in Pegasystems were worth $21,254,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PEGA. True Wealth Design LLC purchased a new stake in shares of Pegasystems in the third quarter valued at $27,000. Venturi Wealth Management LLC boosted its holdings in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after purchasing an additional 216 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Pegasystems during the 3rd quarter worth approximately $57,000. Capital Performance Advisors LLP purchased a new position in shares of Pegasystems in the 3rd quarter valued at $67,000. Finally, Headlands Technologies LLC lifted its stake in shares of 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 purchasing an additional 260 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a research report on Thursday, November 21st. Barclays raised their price objective on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. 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. Rosenblatt Securities increased their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Citigroup upped their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.90.

Pegasystems Trading Down 0.5 %

Shares of NASDAQ PEGA opened at $94.48 on Tuesday. The firm has a 50-day moving average of $80.60 and a two-hundred day moving average of $69.29. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 68.96 and a beta of 1.09. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $97.00.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm had revenue of $325.10 million for the quarter, compared to analysts’ expectations of $326.16 million. During the same quarter last year, the business posted $0.14 EPS. Pegasystems’s revenue was down 2.8% on a year-over-year basis. As a group, research analysts predict that Pegasystems Inc. will post 1.61 earnings per share for the current year.

Pegasystems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.12 annualized dividend and a yield of 0.13%. Pegasystems’s dividend payout ratio is presently 8.76%.

Insiders Place Their Bets

In other news, CAO Efstathios A. Kouninis sold 528 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Leon Trefler sold 8,288 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $81.23, for a total transaction of $673,234.24. Following the transaction, the insider now owns 37,636 shares in the company, valued at approximately $3,057,172.28. The trade was a 18.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,663 shares of company stock worth $1,407,422 in the last quarter. 50.10% of the stock is currently owned by corporate insiders.

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.