Pegasystems (NASDAQ:PEGA) Issues Earnings Results

Pegasystems (NASDAQ:PEGA) posted its quarterly earnings results on Wednesday. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.30, Briefing.com reports. The firm had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted ($0.41) earnings per share.

Pegasystems Price Performance

Shares of PEGA stock traded down $2.05 during trading hours on Friday, reaching $66.88. 999,081 shares of the stock were exchanged, compared to its average volume of 481,168. The business’s fifty day moving average is $59.41 and its two-hundred day moving average is $58.82. The firm has a market capitalization of $5.71 billion, a P/E ratio of 81.56 and a beta of 1.08. Pegasystems has a 12-month low of $37.66 and a 12-month high of $71.27.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date was Monday, July 1st. Pegasystems’s dividend payout ratio is presently 14.63%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEGA. DA Davidson upped their price objective on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday. Citigroup reduced their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Barclays increased their price target on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a report on Friday. JMP Securities restated a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Finally, The Goldman Sachs Group increased their target price on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.86.

Insider Buying and Selling

In other news, Director Richard H. Jones sold 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the sale, the director now directly owns 369,658 shares in the company, valued at approximately $22,504,779.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the insider now owns 50,505 shares of the company’s stock, valued at approximately $3,535,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Jones sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $60.88, for a total value of $608,800.00. Following the completion of the transaction, the director now directly owns 369,658 shares of the company’s stock, valued at $22,504,779.04. The disclosure for this sale can be found here. Insiders sold 17,504 shares of company stock worth $1,069,794 over the last 90 days. 50.10% of the stock is 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.