Pegasystems Inc. $PEGA Shares Sold by Harber Asset Management LLC

Harber Asset Management LLC trimmed its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,402 shares of the technology company’s stock after selling 28,837 shares during the period. Pegasystems makes up about 4.0% of Harber Asset Management LLC’s holdings, making the stock its 5th biggest holding. Harber Asset Management LLC owned 0.10% of Pegasystems worth $9,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC increased its holdings in shares of Pegasystems by 1.4% during the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after buying an additional 189 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Pegasystems by 5.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,798 shares of the technology company’s stock worth $276,000 after buying an additional 228 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Pegasystems by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock worth $500,000 after buying an additional 272 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Pegasystems by 96.5% during the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after buying an additional 303 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Pegasystems by 60.7% during the 4th quarter. Blue Trust Inc. now owns 1,096 shares of the technology company’s stock worth $65,000 after buying an additional 414 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms have recently commented on PEGA. Citizens Jmp restated a “market outperform” rating and set a $58.00 price objective on shares of Pegasystems in a report on Wednesday. Wall Street Zen downgraded Pegasystems from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings downgraded Pegasystems from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of Pegasystems in a report on Thursday, April 23rd. Finally, DA Davidson restated a “buy” rating and set a $55.00 price objective on shares of Pegasystems in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and a consensus price target of $63.30.

Pegasystems Trading Down 0.2%

Shares of Pegasystems stock opened at $32.76 on Friday. The company has a fifty day moving average price of $36.91 and a 200 day moving average price of $45.63. Pegasystems Inc. has a twelve month low of $31.46 and a twelve month high of $68.10. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 17.61 and a beta of 0.86.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.22). Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business had revenue of $429.97 million for the quarter, compared to analysts’ expectations of $473.24 million. During the same period last year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. Analysts forecast that Pegasystems Inc. will post 1.93 earnings per share for the current year.

Pegasystems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, April 1st. 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.