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

Harvest Fund Management Co. Ltd bought a new stake in Pegasystems Inc. (NASDAQ:PEGA) during the 4th quarter, according to the company in 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 hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its holdings in Pegasystems by 219.3% in 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 raised its holdings in Pegasystems by 80.1% in the third quarter. CWM LLC now owns 1,160 shares of the technology company’s stock valued at $50,000 after acquiring an additional 516 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Pegasystems in the fourth quarter valued at approximately $85,000. Counterpoint Mutual Funds LLC acquired a new stake in Pegasystems in the third quarter valued at approximately $91,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Pegasystems in the third quarter valued at approximately $114,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Transactions at Pegasystems

In related news, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.17, for a total value of $1,301,681.02. Following the transaction, the chief financial officer now directly owns 24,535 shares in the company, valued at approximately $1,549,875.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $63.39, for a total value of $633,900.00. Following the transaction, the director now directly owns 379,658 shares in the company, valued at approximately $24,066,520.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kenneth Stillwell sold 20,606 shares of Pegasystems stock in a transaction on Friday, February 16th. The shares were sold at an average price of $63.17, for a total transaction of $1,301,681.02. Following the completion of the transaction, the chief financial officer now owns 24,535 shares in the company, valued at $1,549,875.95. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,792 shares of company stock worth $2,781,669. Insiders own 50.20% of the company’s stock.

Pegasystems Trading Up 4.6 %

Shares of PEGA opened at $61.80 on Friday. The firm has a market cap of $5.25 billion, a PE ratio of 75.37 and a beta of 1.06. The company’s 50 day simple moving average is $62.83 and its 200-day simple moving average is $53.12. Pegasystems Inc. has a 12-month low of $37.66 and a 12-month high of $69.26.

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

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 1st were given 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 dividend yield of 0.19%. Pegasystems’s dividend payout ratio (DPR) is presently 14.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Pegasystems in a report on Friday. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. The Goldman Sachs Group raised their price objective on shares of Pegasystems from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Citigroup raised their price objective on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Barclays raised their price objective on shares of Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.33.

Pegasystems Company Profile

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.