Harvest Fund Management Co. Ltd Has $2.14 Million Stake in Pegasystems Inc. (NASDAQ:PEGA)

Harvest Fund Management Co. Ltd lifted its position in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 475.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,236 shares of the technology company's stock after purchasing an additional 19,199 shares during the period. Harvest Fund Management Co. Ltd's holdings in Pegasystems were worth $2,139,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PEGA. Thrivent Financial for Lutherans purchased a new stake in shares of Pegasystems in the 4th quarter worth about $66,542,000. Raymond James Financial Inc. purchased a new position in Pegasystems in the fourth quarter worth about $27,623,000. Fisher Asset Management LLC boosted its holdings in shares of Pegasystems by 31.7% in the fourth quarter. Fisher Asset Management LLC now owns 637,999 shares of the technology company's stock worth $59,462,000 after buying an additional 153,703 shares during the last quarter. Foundry Partners LLC purchased a new stake in shares of Pegasystems in the 3rd quarter worth $9,567,000. Finally, Eagle Asset Management Inc. raised its stake in shares of Pegasystems by 440.5% in the third quarter. Eagle Asset Management Inc. now owns 147,350 shares of the technology company's stock worth $10,770,000 after buying an additional 120,090 shares during the period. 46.89% of the stock is owned by institutional investors.

Pegasystems Stock Up 3.7 %

NASDAQ PEGA traded up $2.68 during trading on Monday, hitting $75.57. The stock had a trading volume of 510,854 shares, compared to its average volume of 618,336. The company has a market capitalization of $6.49 billion, a PE ratio of 74.82 and a beta of 1.25. Pegasystems Inc. has a twelve month low of $54.55 and a twelve month high of $113.67. The firm has a 50 day moving average price of $89.85 and a 200 day moving average price of $85.57.

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Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, sell-side analysts anticipate that Pegasystems Inc. will post 1.89 earnings per share for the current year.

Pegasystems Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.015 per share. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.08%. The ex-dividend date is Tuesday, April 1st. Pegasystems's dividend payout ratio is presently 11.88%.

Insider Buying and Selling

In other news, Chairman Alan Trefler sold 31,500 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $77.38, for a total transaction of $2,437,470.00. Following the completion of the transaction, the chairman now directly owns 17,308,786 shares of the company's stock, valued at approximately $1,339,353,860.68. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $105.63, for a total value of $211,260.00. Following the sale, the chief financial officer now directly owns 14,466 shares in the company, valued at $1,528,043.58. The trade was a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,543 shares of company stock worth $6,253,614. 50.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PEGA shares. Rosenblatt Securities increased their price objective on shares of Pegasystems from $95.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Royal Bank of Canada lifted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Citigroup lifted their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. StockNews.com cut Pegasystems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $118.00 target price on shares of Pegasystems in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pegasystems currently has an average rating of "Moderate Buy" and an average target price of $99.36.

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.