Pegasystems (NASDAQ:PEGA) Issues Earnings Results

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

Pegasystems Price Performance

PEGA stock traded up $0.07 during midday trading on Friday, reaching $80.03. 1,463,468 shares of the stock were exchanged, compared to its average volume of 549,402. Pegasystems has a 52 week low of $38.94 and a 52 week high of $82.22. The company has a fifty day moving average price of $70.20 and a 200 day moving average price of $64.12. The stock has a market capitalization of $6.84 billion, a PE ratio of 55.19 and a beta of 1.07.

Pegasystems Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on PEGA shares. DA Davidson boosted their price target on Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Wednesday, July 31st. Rosenblatt Securities increased their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Finally, Citigroup upped their target price on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pegasystems has an average rating of “Moderate Buy” and an average target price of $85.90.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now directly owns 17,262 shares in the company, valued at approximately $1,263,060.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the completion of the transaction, the chief financial officer now owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Jones sold 15,271 shares of Pegasystems stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $69.25, for a total transaction of $1,057,516.75. Following the transaction, the director now owns 371,787 shares in the company, valued at approximately $25,746,249.75. This trade represents a 0.00 % decrease in their position. 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. 50.10% of the stock is currently owned by insiders.

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.