Fisher Asset Management LLC Acquires 3,000 Shares of Pegasystems Inc. (NASDAQ:PEGA)

Fisher Asset Management LLC raised its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 484,296 shares of the technology company’s stock after purchasing an additional 3,000 shares during the quarter. Fisher Asset Management LLC’s holdings in Pegasystems were worth $35,397,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PEGA. Versant Capital Management Inc grew its stake in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after purchasing an additional 756 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock valued at $48,000 after acquiring an additional 216 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Pegasystems in the 3rd quarter valued at about $57,000. Capital Performance Advisors LLP acquired a new stake in shares of Pegasystems in the 3rd quarter valued at approximately $67,000. Finally, Headlands Technologies LLC boosted its stake in Pegasystems by 29.9% during the 2nd 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. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Stock Up 1.2 %

NASDAQ:PEGA opened at $96.45 on Wednesday. The company has a market cap of $8.27 billion, a P/E ratio of 70.40 and a beta of 1.06. Pegasystems Inc. has a twelve month low of $44.07 and a twelve month high of $96.68. The business has a 50 day moving average price of $78.47 and a two-hundred day moving average price of $68.38.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The business had revenue of $325.10 million during the quarter, compared to the consensus estimate of $326.16 million. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts anticipate that Pegasystems Inc. will post 1.61 earnings per share for the current fiscal year.

Pegasystems Announces Dividend

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

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 932 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $71.00, for a total transaction of $66,172.00. Following the sale, the chief accounting officer now directly owns 2 shares of the company’s stock, valued at approximately $142. This represents a 99.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total transaction of $698,800.00. Following the completion of the transaction, the director now directly owns 357,058 shares of the company’s stock, valued at approximately $24,951,213.04. This trade represents a 2.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,595 shares of company stock valued at $2,454,034. Insiders own 50.10% of the company’s stock.

Wall Street Analyst Weigh In

PEGA has been the subject of several recent analyst reports. Citigroup upped 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. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. Wedbush boosted their target price on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Rosenblatt Securities increased their price target on Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price objective on Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Pegasystems has an average rating of “Moderate Buy” and a consensus target price of $85.90.

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.