Pegasystems Inc. $PEGA Position Lessened by Harber Asset Management LLC

Harber Asset Management LLC trimmed its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 161,402 shares of the technology company’s stock after selling 28,837 shares during the quarter. Pegasystems accounts for about 4.0% of Harber Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Harber Asset Management LLC’s holdings in Pegasystems were worth $9,639,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PEGA. International Assets Investment Management LLC purchased a new stake in shares of Pegasystems during the fourth quarter worth about $28,000. Hantz Financial Services Inc. lifted its position in shares of Pegasystems by 321.6% during the third quarter. Hantz Financial Services Inc. now owns 565 shares of the technology company’s stock worth $32,000 after purchasing an additional 431 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Pegasystems by 96.5% during the fourth quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares during the last quarter. Bayforest Capital Ltd lifted its position in shares of Pegasystems by 316.6% during the fourth quarter. Bayforest Capital Ltd now owns 704 shares of the technology company’s stock worth $42,000 after purchasing an additional 535 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Pegasystems by 386.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock worth $42,000 after purchasing an additional 564 shares during the last quarter. 46.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PEGA shares. Weiss Ratings cut shares of Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 4th. Wedbush reaffirmed an “outperform” rating and set a $60.00 price target on shares of Pegasystems in a research report on Thursday, April 23rd. DA Davidson reaffirmed a “buy” rating and set a $55.00 price target on shares of Pegasystems in a research report on Wednesday. Zacks Research cut shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Pegasystems in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

Insider Activity

In related news, insider Rifat Kerim Akgonul sold 4,545 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the sale, the insider owned 107,070 shares in the company, valued at $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $36.99, for a total transaction of $27,742.50. Following the sale, the chief accounting officer owned 2,144 shares in the company, valued at approximately $79,306.56. This trade represents a 25.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 14,639 shares of company stock worth $577,764. 48.40% of the stock is owned by company insiders.

Pegasystems Stock Down 0.2%

PEGA opened at $32.76 on Friday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 17.61 and a beta of 0.86. Pegasystems Inc. has a fifty-two week low of $31.46 and a fifty-two week high of $68.10. The company’s 50-day moving average price is $36.91 and its 200 day moving average price is $45.63.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.22). The business had revenue of $429.97 million for the quarter, compared to analyst estimates of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.Pegasystems’s revenue was down 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. Research analysts anticipate that Pegasystems Inc. will post 1.93 earnings per share for the current year.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, April 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems’s dividend payout ratio is 6.45%.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.