FY2024 Earnings Forecast for Pegasystems Issued By KeyCorp

Pegasystems Inc. (NASDAQ:PEGA) – Equities researchers at KeyCorp issued their FY2024 EPS estimates for shares of Pegasystems in a report issued on Monday, January 13th. KeyCorp analyst D. Au expects that the technology company will earn $1.75 per share for the year. KeyCorp has a “Strong-Buy” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.61 per share. KeyCorp also issued estimates for Pegasystems’ Q4 2024 earnings at $1.30 EPS, Q4 2025 earnings at $1.41 EPS, FY2025 earnings at $1.92 EPS and FY2026 earnings at $2.26 EPS.

A number of other equities research analysts also recently commented on PEGA. Royal Bank of Canada lifted their target price on Pegasystems from $90.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Barclays lifted their price objective on shares of Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities boosted their target price on shares of Pegasystems from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Wedbush lifted their price objective on Pegasystems from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.91.

Pegasystems Stock Performance

Pegasystems stock opened at $100.00 on Thursday. The business’s 50-day simple moving average is $93.01 and its two-hundred day simple moving average is $77.12. The company has a market cap of $8.58 billion, a PE ratio of 72.99 and a beta of 1.09. Pegasystems has a fifty-two week low of $45.36 and a fifty-two week high of $100.23.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.04. The firm had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS.

Institutional Investors Weigh In On Pegasystems

Institutional investors have recently bought and sold shares of the company. Greenwood Capital Associates LLC purchased a new position in shares of Pegasystems in the third quarter valued at approximately $436,000. Crossmark Global Holdings Inc. raised its stake in Pegasystems by 110.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company’s stock valued at $1,842,000 after purchasing an additional 13,200 shares during the last quarter. Foundry Partners LLC acquired a new position in Pegasystems in the 3rd quarter valued at $9,567,000. Nordea Investment Management AB lifted its holdings in Pegasystems by 9.9% in the 4th quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company’s stock valued at $8,353,000 after purchasing an additional 7,947 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Pegasystems during the 2nd quarter worth $67,968,000. 46.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.00, for a total transaction of $188,000.00. Following the completion of the transaction, the chief financial officer now directly owns 16,466 shares in the company, valued at approximately $1,547,804. This represents a 10.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Leon Trefler sold 8,288 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $81.23, for a total transaction of $673,234.24. Following the transaction, the insider now directly owns 37,636 shares in the company, valued at approximately $3,057,172.28. The trade was a 18.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,914 shares of company stock valued at $2,414,935. 50.10% of the stock is owned by company insiders.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.12%. Pegasystems’s dividend payout ratio is presently 8.76%.

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.