Key Points
- Pegasystems’ chief accounting officer sold 1,063 shares for approximately $41,191, reducing their stake by 47.73% to 1,164 shares.
- The company’s latest quarterly results missed expectations, with earnings per share of $0.35 versus the $0.43 consensus and revenue of $420.72 million versus $427.38 million expected. Revenue still increased 9.4% year over year.
- Analysts maintain a consensus “Hold” rating, with an average price target of $50.10, while Pegasystems pays a quarterly dividend of $0.03 per share.
Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) CAO Efstathios Kouninis sold 1,063 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the transaction, the chief accounting officer owned 1,164 shares in the company, valued at $45,105. This represents a 47.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Pegasystems Stock Up 1.1%
Shares of NASDAQ PEGA opened at $37.72 on Friday. The firm's 50-day moving average price is $32.07 and its 200-day moving average price is $36.37. Pegasystems Inc. has a 52-week low of $25.10 and a 52-week high of $68.10. The company has a market cap of $6.20 billion, a PE ratio of 21.31 and a beta of 0.89.
Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $420.72 million for the quarter, compared to analysts' expectations of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. As a group, equities research analysts anticipate that Pegasystems Inc. will post 1.71 EPS for the current fiscal year.
Pegasystems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Pegasystems's payout ratio is currently 6.78%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on PEGA shares. Rosenblatt Securities dropped their price target on Pegasystems from $58.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Barclays reissued an "overweight" rating and issued a $39.00 target price (down from $48.00) on shares of Pegasystems in a report on Thursday, July 23rd. Zacks Research cut Pegasystems from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 25th. Royal Bank Of Canada set a $35.00 price target on Pegasystems and gave the company an "outperform" rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Pegasystems in a research report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $50.10.
View Our Latest Stock Report on Pegasystems
Hedge Funds Weigh In On Pegasystems
A number of hedge funds have recently made changes to their positions in PEGA. BlackRock Inc. bought a new stake in shares of Pegasystems during the second quarter valued at approximately $286,923,000. AQR Capital Management LLC boosted its position in shares of Pegasystems by 236.2% during the second quarter. AQR Capital Management LLC now owns 4,037,552 shares of the technology company's stock worth $217,584,000 after acquiring an additional 2,836,733 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Pegasystems by 2,809.9% during the second quarter. California State Teachers Retirement System now owns 3,164,352 shares of the technology company's stock worth $94,836,000 after acquiring an additional 3,055,609 shares during the last quarter. Invesco Ltd. grew its stake in Pegasystems by 14.8% during the fourth quarter. Invesco Ltd. now owns 3,127,771 shares of the technology company's stock valued at $186,790,000 after acquiring an additional 402,763 shares in the last quarter. Finally, State Street Corp increased its holdings in Pegasystems by 255.3% in the 2nd quarter. State Street Corp now owns 2,907,677 shares of the technology company's stock valued at $157,393,000 after acquiring an additional 2,089,375 shares during the last quarter. Institutional investors own 46.89% of the company's stock.
Pegasystems Company Profile
(
Get Free Report)
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.
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