Pegasystems (NASDAQ:PEGA) Issues Earnings Results

Pegasystems (NASDAQ:PEGA) posted its quarterly earnings data on Wednesday. The technology company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04, Briefing.com reports. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year.

Pegasystems Price Performance

Shares of NASDAQ PEGA traded up $10.23 during midday trading on Thursday, hitting $79.96. 1,730,668 shares of the company’s stock were exchanged, compared to its average volume of 456,075. The stock’s 50 day moving average price is $69.99 and its 200-day moving average price is $64.01. The firm has a market cap of $6.83 billion, a P/E ratio of 55.15 and a beta of 1.07. Pegasystems has a twelve month low of $37.66 and a twelve month high of $80.12.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.03 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. Pegasystems’s dividend payout ratio is presently 8.28%.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the transaction, the chief accounting officer now directly owns 752 shares in the company, valued at approximately $54,211.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the sale, the chief accounting officer now directly owns 752 shares in the company, valued at $54,211.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Efstathios A. Kouninis sold 932 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $71.00, for a total value of $66,172.00. Following the completion of the sale, the chief accounting officer now owns 2 shares of the company’s stock, valued at $142. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,955 shares of company stock worth $3,136,247. Company insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PEGA. Citigroup increased their price objective 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. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 14th. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Barclays raised their price target on shares of Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised their price target on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

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.