Pegasystems Inc. (NASDAQ:PEGA) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS
Pegasystems Inc. (NASDAQ:PEGA) issued its earnings results on Wednesday. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.04, Morningstar.com reports. The business had revenue of $197.98 million during the quarter, compared to the consensus estimate of $205.06 million. Pegasystems had a net margin of 5.76% and a return on equity of 12.56%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS.
Pegasystems (NASDAQ PEGA) opened at 52.00 on Friday. The stock has a 50 day moving average of $59.79 and a 200 day moving average of $50.23. Pegasystems has a 52 week low of $24.94 and a 52 week high of $64.85. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 83.20 and a beta of 1.46.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Thursday, June 29th. Pegasystems’s dividend payout ratio (DPR) is presently 19.67%.
In other Pegasystems news, CFO Kenneth Stillwell sold 4,283 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $60.48, for a total transaction of $259,035.84. Following the completion of the sale, the chief financial officer now owns 8,746 shares of the company’s stock, valued at approximately $528,958.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Efstathios A. Kouninis sold 581 shares of the stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $59.40, for a total transaction of $34,511.40. Following the sale, the vice president now directly owns 843 shares of the company’s stock, valued at approximately $50,074.20. The disclosure for this sale can be found here. Insiders have sold a total of 85,886 shares of company stock valued at $5,044,204 in the last three months. Insiders own 53.61% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. purchased a new stake in Pegasystems during the second quarter worth $105,000. Sei Investments Co. increased its stake in Pegasystems by 4,892.9% in the second quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after buying an additional 2,055 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Pegasystems during the first quarter worth $137,000. Bank of Montreal Can increased its stake in Pegasystems by 31.4% in the first quarter. Bank of Montreal Can now owns 4,723 shares of the technology company’s stock worth $208,000 after buying an additional 1,129 shares in the last quarter. Finally, Cambridge Trust Co. purchased a new stake in Pegasystems during the first quarter worth $219,000. 44.79% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on PEGA shares. Benchmark Co. reaffirmed a “buy” rating and issued a $67.00 target price (up previously from $60.00) on shares of Pegasystems in a research note on Tuesday, June 6th. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Pegasystems in a research note on Friday, May 19th. BidaskClub lowered shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Wednesday, July 19th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $63.00 target price (up previously from $55.00) on shares of Pegasystems in a research note on Wednesday, June 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $63.00.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
Receive News & Stock Ratings for Pegasystems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems Inc. and related stocks with our FREE daily email newsletter.