Pegasystems Inc. (NASDAQ:PEGA) is Harber Asset Management LLC’s 2nd Largest Position

Harber Asset Management LLC lessened its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 38.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,787 shares of the technology company’s stock after selling 180,401 shares during the quarter. Pegasystems comprises about 6.4% of Harber Asset Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Harber Asset Management LLC owned 0.34% of Pegasystems worth $21,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PEGA. Optimist Retirement Group LLC raised its stake in Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after buying an additional 165 shares in the last quarter. New York State Teachers Retirement System increased its stake in Pegasystems by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 4,099 shares of the technology company’s stock worth $300,000 after buying an additional 211 shares during the period. Venturi Wealth Management LLC increased its stake in Pegasystems by 49.1% in the third 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. Headlands Technologies LLC grew its position 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 acquiring an additional 260 shares during the last quarter. Finally, Arizona State Retirement System grew its position in 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 buying an additional 262 shares during the period. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Stock Down 0.5 %

Shares of PEGA stock opened at $94.48 on Tuesday. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 68.96 and a beta of 1.09. The business’s fifty day moving average is $80.60 and its 200 day moving average is $69.29. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $97.00.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same period in the previous year, the company posted $0.14 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Tuesday, October 1st. Pegasystems’s dividend payout ratio is currently 8.76%.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total value of $73,170.00. Following the sale, the chief financial officer now owns 17,262 shares in the company, valued at $1,263,060.54. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Leon Trefler sold 8,288 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $81.23, for a total value of $673,234.24. Following the completion of the transaction, the insider now owns 37,636 shares in the company, valued at approximately $3,057,172.28. This trade represents 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 valued at $1,407,422 in the last three months. Company insiders own 50.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Rosenblatt Securities upped their target price on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Citigroup lifted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays lifted their price target on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Wedbush lifted their target price on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, StockNews.com raised Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Pegasystems currently has a consensus 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.