Fisher Asset Management LLC Has $23.53 Million Stock Position in Pegasystems Inc. (NASDAQ:PEGA)

Fisher Asset Management LLC lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 481,615 shares of the technology company’s stock after selling 95,266 shares during the period. Fisher Asset Management LLC’s holdings in Pegasystems were worth $23,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bares Capital Management Inc. raised its holdings in shares of Pegasystems by 1.6% during the fourth quarter. Bares Capital Management Inc. now owns 5,862,346 shares of the technology company’s stock valued at $286,434,000 after purchasing an additional 90,993 shares during the period. Vanguard Group Inc. raised its holdings in shares of Pegasystems by 6.6% during the third quarter. Vanguard Group Inc. now owns 5,004,116 shares of the technology company’s stock valued at $217,229,000 after purchasing an additional 310,242 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Pegasystems by 3.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 946,109 shares of the technology company’s stock valued at $46,227,000 after purchasing an additional 31,925 shares during the period. Federated Hermes Inc. raised its holdings in shares of Pegasystems by 4.9% during the third quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock valued at $35,075,000 after purchasing an additional 37,880 shares during the period. Finally, Ranger Investment Management L.P. raised its holdings in shares of Pegasystems by 29.9% during the fourth quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after purchasing an additional 143,986 shares during the period. Institutional investors and hedge funds own 46.89% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of Pegasystems in a report on Wednesday, June 12th. Rosenblatt Securities reissued a “buy” rating and set a $75.00 target price on shares of Pegasystems in a research report on Tuesday, April 23rd. Barclays boosted their target price on shares of Pegasystems from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada reissued an “outperform” rating and set a $77.00 target price on shares of Pegasystems in a research report on Tuesday, June 11th. Finally, Citigroup boosted their target price on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.13.

Pegasystems Stock Performance

Shares of PEGA stock opened at $56.83 on Wednesday. Pegasystems Inc. has a 52-week low of $37.66 and a 52-week high of $69.26. The company has a 50-day simple moving average of $59.73 and a two-hundred day simple moving average of $56.92. The company has a market capitalization of $4.83 billion, a price-to-earnings ratio of 69.31 and a beta of 1.05.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Pegasystems had a return on equity of 45.00% and a net margin of 5.32%. The firm had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. On average, sell-side analysts forecast that Pegasystems Inc. will post 1.5 EPS for the current fiscal year.

Pegasystems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Monday, July 1st. Pegasystems’s dividend payout ratio is currently 14.63%.

Insider Activity

In other news, insider Leon Trefler sold 752 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $64.20, for a total transaction of $48,278.40. Following the completion of the transaction, the insider now directly owns 39,940 shares of the company’s stock, valued at approximately $2,564,148. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard H. Jones sold 10,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $60.88, for a total transaction of $608,800.00. Following the completion of the transaction, the director now directly owns 369,658 shares of the company’s stock, valued at approximately $22,504,779.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leon Trefler sold 752 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $64.20, for a total transaction of $48,278.40. Following the sale, the insider now owns 39,940 shares in the company, valued at $2,564,148. The disclosure for this sale can be found here. Insiders sold 15,504 shares of company stock valued at $950,634 in the last three months. Company insiders own 50.10% of the company’s stock.

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.