Pegasystems (NASDAQ:PEGA) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Pegasystems (NASDAQ:PEGA) posted its quarterly earnings results on Wednesday. The technology company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04, Briefing.com reports. The business 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%. Pegasystems’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.14 earnings per share.

Pegasystems Price Performance

Pegasystems stock traded up $10.23 during mid-day trading on Thursday, reaching $79.96. 1,730,668 shares of the company were exchanged, compared to its average volume of 456,075. The company has a fifty day simple moving average of $69.99 and a 200-day simple moving average of $64.01. The firm has a market cap of $6.83 billion, a PE ratio of 55.15 and a beta of 1.07. Pegasystems has a 12 month low of $37.66 and a 12 month high of $80.12.

Pegasystems Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on PEGA shares. The Goldman Sachs Group lifted their target price on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Citigroup lifted their target price on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and issued a $90.00 price target on shares of Pegasystems in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Pegasystems currently has an average rating of “Moderate Buy” and an average price target of $83.60.

Insider Transactions at Pegasystems

In related 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 value 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 $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 Securities & Exchange Commission, which is available through this link. In related news, CFO Kenneth Stillwell sold 1,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total value of $73,170.00. Following the transaction, the chief financial officer now directly owns 17,262 shares of the company’s stock, valued at $1,263,060.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,955 shares of company stock valued at $3,136,247. 50.10% of the stock is owned by corporate 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.