Pegasystems Inc. (NASDAQ:PEGA) Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in Pegasystems Inc. (NASDAQ:PEGA) by 475.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,236 shares of the technology company’s stock after purchasing an additional 19,199 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Pegasystems were worth $2,139,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PEGA. Wealth Enhancement Advisory Services LLC boosted its position in Pegasystems by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,401 shares of the technology company’s stock worth $783,000 after acquiring an additional 141 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Pegasystems by 85.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company’s stock worth $30,000 after acquiring an additional 149 shares during the last quarter. Arizona State Retirement System boosted its position in Pegasystems by 1.2% during the fourth quarter. Arizona State Retirement System now owns 12,394 shares of the technology company’s stock worth $1,155,000 after acquiring an additional 152 shares during the last quarter. Principal Securities Inc. boosted its position in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company’s stock worth $26,000 after acquiring an additional 167 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Pegasystems by 4.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,586 shares of the technology company’s stock worth $427,000 after acquiring an additional 196 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insiders Place Their Bets

In other Pegasystems news, Chairman Alan Trefler sold 31,500 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $70.93, for a total transaction of $2,234,295.00. Following the sale, the chairman now directly owns 17,247,614 shares in the company, valued at $1,223,373,261.02. This represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rifat Kerim Akgonul sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $72.25, for a total transaction of $144,500.00. Following the sale, the insider now owns 56,534 shares in the company, valued at approximately $4,084,581.50. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 81,543 shares of company stock worth $6,253,614 in the last ninety days. 50.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PEGA has been the topic of a number of recent research reports. KeyCorp restated an “overweight” rating and set a $118.00 price target on shares of Pegasystems in a research report on Tuesday, January 14th. Citigroup boosted their price target on shares of Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and set a $110.00 price target on shares of Pegasystems in a research report on Thursday, February 13th. Royal Bank of Canada boosted their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Barclays decreased their target price on shares of Pegasystems from $103.00 to $97.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.36.

Pegasystems Stock Performance

Shares of PEGA stock opened at $72.66 on Thursday. The firm’s 50 day moving average price is $90.76 and its 200-day moving average price is $85.40. Pegasystems Inc. has a one year low of $54.55 and a one year high of $113.67. The firm has a market cap of $6.24 billion, a P/E ratio of 71.94 and a beta of 1.25.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, February 12th. The technology company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.20). Pegasystems had a return on equity of 32.09% and a net margin of 6.63%. As a group, research analysts predict that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

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.