Pegasystems Inc. $PEGA Holdings Decreased by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. trimmed its holdings in shares of Pegasystems Inc. (NASDAQ:PEGA) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,354 shares of the technology company’s stock after selling 26,852 shares during the period. Harel Insurance Investments & Financial Services Ltd. owned approximately 0.07% of Pegasystems worth $6,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new position in shares of Pegasystems in the 3rd quarter valued at about $280,000. Stephens Inc. AR purchased a new position in Pegasystems during the third quarter valued at approximately $255,000. Kera Capital Partners Inc. acquired a new position in Pegasystems in the 3rd quarter valued at approximately $248,000. Quent Capital LLC acquired a new position in Pegasystems in the 3rd quarter valued at approximately $48,000. Finally, Nordea Investment Management AB boosted its stake in shares of Pegasystems by 2.3% during the 3rd quarter. Nordea Investment Management AB now owns 200,664 shares of the technology company’s stock valued at $11,518,000 after buying an additional 4,599 shares during the period. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Trading Down 1.9%

Shares of PEGA stock opened at $51.99 on Friday. The firm has a market capitalization of $8.82 billion, a PE ratio of 34.89 and a beta of 1.08. Pegasystems Inc. has a 12 month low of $29.84 and a 12 month high of $68.10. The firm has a fifty day simple moving average of $58.02 and a two-hundred day simple moving average of $56.91.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Tuesday, October 21st. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.12. The company had revenue of $381.35 million during the quarter, compared to analyst estimates of $351.95 million. Pegasystems had a return on equity of 43.49% and a net margin of 16.05%.Pegasystems’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 earnings per share. On average, equities analysts predict that Pegasystems Inc. will post 1.89 earnings per share for the current fiscal year.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 16th. Investors of record on Friday, January 2nd were given a $0.03 dividend. The ex-dividend date was Friday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Pegasystems’s payout ratio is presently 8.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PEGA shares. Rosenblatt Securities upped their price target on shares of Pegasystems from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Pegasystems in a report on Monday, December 29th. Barclays lifted their target price on Pegasystems from $58.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Wedbush boosted their price objective on Pegasystems from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Finally, DA Davidson upgraded shares of Pegasystems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $85.00 in a research note on Wednesday, October 22nd. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.05.

Insider Buying and Selling

In other news, Chairman Alan Trefler sold 45,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $58.13, for a total value of $2,615,850.00. Following the completion of the sale, the chairman owned 44,800,654 shares of the company’s stock, valued at approximately $2,604,262,017.02. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kenneth Stillwell sold 14,405 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $57.87, for a total transaction of $833,617.35. Following the completion of the transaction, the chief financial officer owned 131,621 shares in the company, valued at $7,616,907.27. The trade was a 9.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 205,301 shares of company stock worth $12,297,609 in the last ninety days. 49.70% of the stock is currently owned by insiders.

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.