Pegasystems Inc. (NASDAQ:PEGA) Forecasted to Post Q3 2024 Earnings of $0.09 Per Share

Pegasystems Inc. (NASDAQ:PEGA) – Research analysts at Wedbush lowered their Q3 2024 earnings per share (EPS) estimates for shares of Pegasystems in a note issued to investors on Thursday, September 26th. Wedbush analyst D. Ives now expects that the technology company will earn $0.09 per share for the quarter, down from their previous forecast of $0.16. Wedbush has a “Outperform” rating and a $90.00 price target on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.54 per share. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.17 EPS, FY2024 earnings at $1.64 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $2.03 EPS.

A number of other analysts also recently commented on the company. Citigroup raised their price objective on Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. JMP Securities upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Wednesday, July 31st. Barclays increased their price objective on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

Pegasystems Stock Performance

NASDAQ PEGA opened at $70.39 on Monday. Pegasystems has a twelve month low of $37.66 and a twelve month high of $74.40. The stock has a market cap of $5.99 billion, a PE ratio of 85.84 and a beta of 1.07. The firm has a 50-day simple moving average of $68.13 and a 200 day simple moving average of $63.07.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million during the quarter, compared to analysts’ expectations of $323.55 million. Pegasystems had a net margin of 8.72% and a return on equity of 49.62%. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.41) EPS.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Tuesday, October 1st. Pegasystems’s payout ratio is currently 14.63%.

Insider Transactions at Pegasystems

In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of Pegasystems stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total value of $203,933.45. Following the completion of the transaction, the chief financial officer now owns 18,197 shares in the company, valued at approximately $1,229,207.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $67.55, for a total value of $203,933.45. Following the completion of the transaction, the chief financial officer now directly owns 18,197 shares of the company’s stock, valued at $1,229,207.35. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the insider now directly owns 50,505 shares in the company, valued at $3,535,350. The disclosure for this sale can be found here. Insiders have sold 44,955 shares of company stock valued at $3,133,077 in the last three months. 50.10% of the stock is owned by corporate insiders.

Institutional Trading of Pegasystems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its stake in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after buying an additional 756 shares during the last quarter. Headlands Technologies LLC boosted its position in shares of Pegasystems by 64.0% in the 1st quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after purchasing an additional 339 shares during the last quarter. Covestor Ltd grew its stake in shares of Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after purchasing an additional 1,065 shares during the period. Point72 Hong Kong Ltd bought a new stake in Pegasystems in the second quarter valued at about $104,000. Finally, Picton Mahoney Asset Management acquired a new position in Pegasystems in the second quarter valued at about $124,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

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.