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

Fisher Asset Management LLC decreased its position in shares of Pegasystems Inc. (NASDAQ:PEGA) by 16.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 481,615 shares of the technology company’s stock after selling 95,266 shares during the quarter. Fisher Asset Management LLC owned approximately 0.57% of Pegasystems worth $23,532,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Bares Capital Management Inc. lifted its stake in shares of Pegasystems by 1.6% in the 4th 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. lifted its stake in shares of Pegasystems by 6.6% in the 3rd 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. lifted its stake in shares of Pegasystems by 3.5% in the 4th 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. increased its position in shares of Pegasystems by 4.9% in the 3rd quarter. Federated Hermes Inc. now owns 808,001 shares of the technology company’s stock valued at $35,075,000 after buying an additional 37,880 shares in the last quarter. Finally, Ranger Investment Management L.P. increased its position in shares of Pegasystems by 29.9% in the 4th quarter. Ranger Investment Management L.P. now owns 625,471 shares of the technology company’s stock valued at $30,561,000 after buying an additional 143,986 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $56.83 on Wednesday. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 69.31 and a beta of 1.05. The business has a 50-day moving average of $59.73 and a 200-day moving average of $56.92. Pegasystems Inc. has a fifty-two week low of $37.66 and a fifty-two week high of $69.26.

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

Pegasystems Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on PEGA shares. Rosenblatt Securities restated a “buy” rating and issued a $75.00 price objective on shares of Pegasystems in a research report on Tuesday, April 23rd. Wedbush restated an “outperform” rating and issued a $90.00 price objective on shares of Pegasystems in a research report on Wednesday, June 12th. DA Davidson restated a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a research report on Monday, March 4th. Barclays upped their price objective on shares of Pegasystems from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Citigroup increased their target price on Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.13.

Insider Activity

In related news, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $63.70, for a total value of $127,400.00. Following the completion of the sale, the chief financial officer now directly owns 24,884 shares in the company, valued at approximately $1,585,110.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the sale, the insider now directly owns 39,940 shares in the company, valued at approximately $2,564,148. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $63.70, for a total transaction of $127,400.00. Following the sale, the chief financial officer now owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. Insiders sold 15,504 shares of company stock worth $950,634 in the last quarter. Corporate insiders own 50.10% of the company’s stock.

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.