Pegasystems (NASDAQ:PEGA) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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

Pegasystems Trading Up 14.7 %

PEGA stock opened at $79.96 on Friday. The business’s fifty day moving average price is $69.99 and its 200 day moving average price is $64.01. Pegasystems has a 12-month low of $38.94 and a 12-month high of $80.12. The company has a market capitalization of $6.83 billion, a PE ratio of 55.15 and a beta of 1.07.

Pegasystems Dividend Announcement

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

Analyst Upgrades and Downgrades

PEGA has been the subject of several analyst reports. Rosenblatt Securities upped their target price on Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday. 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 report on Friday, July 26th. Finally, William Blair upgraded Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Three investment 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.10.

Insider Buying and Selling at Pegasystems

In other news, CFO Kenneth Stillwell sold 1,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $73.17, for a total transaction of $73,170.00. Following the sale, the chief financial officer now owns 17,262 shares of the company’s stock, valued at approximately $1,263,060.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’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 value of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at $54,211.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kenneth Stillwell sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was 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 position. The disclosure for this sale can be found here. Insiders sold a total of 44,955 shares of company stock valued at $3,136,247 in the last three months. 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.