Wedbush Brokers Lower Earnings Estimates for Pegasystems Inc. (PEGA)
Pegasystems Inc. (NASDAQ:PEGA) – Stock analysts at Wedbush lowered their Q3 2017 earnings per share estimates for Pegasystems in a research note issued to investors on Thursday. Wedbush analyst S. Koenig now forecasts that the technology company will post earnings of $0.08 per share for the quarter, down from their previous forecast of $0.11. Wedbush currently has a “Outperform” rating and a $60.00 price target on the stock. Wedbush also issued estimates for Pegasystems’ Q4 2017 earnings at $0.18 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.15 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.84 EPS.
A number of other research analysts have also recently issued reports on the stock. Mitsubishi UFJ Financial Group set a $57.00 target price on shares of Pegasystems and gave the company a “buy” rating in a report on Thursday, August 10th. BidaskClub lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. JMP Securities reiterated an “outperform” rating and issued a $63.00 price target (up from $55.00) on shares of Pegasystems in a research report on Wednesday, June 7th. Finally, Benchmark Co. reiterated a “buy” rating and issued a $67.00 price target (up from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Pegasystems has a consensus rating of “Buy” and a consensus price target of $63.00.
Pegasystems (NASDAQ:PEGA) opened at 54.85 on Monday. The stock’s 50 day moving average price is $59.33 and its 200 day moving average price is $50.75. The firm has a market capitalization of $4.26 billion, a PE ratio of 87.76 and a beta of 1.46. Pegasystems has a one year low of $25.20 and a one year high of $64.85.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.04. The company had revenue of $197.98 million for the quarter, compared to analyst estimates of $205.06 million. Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share.
Several hedge funds have recently added to or reduced their stakes in PEGA. Eagle Asset Management Inc. acquired a new stake in Pegasystems during the first quarter valued at approximately $2,990,000. Karp Capital Management Corp purchased a new stake in shares of Pegasystems during the first quarter worth about $336,000. UBS Asset Management Americas Inc. raised its stake in shares of Pegasystems by 193.4% in the first quarter. UBS Asset Management Americas Inc. now owns 19,356 shares of the technology company’s stock worth $849,000 after buying an additional 12,758 shares during the period. Suntrust Banks Inc. raised its stake in shares of Pegasystems by 3.0% in the first quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock worth $371,000 after buying an additional 250 shares during the period. Finally, US Bancorp DE raised its stake in shares of Pegasystems by 0.9% in the first quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock worth $871,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 44.08% of the company’s stock.
In other news, SVP Leon Trefler sold 4,560 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $56.41, for a total value of $257,229.60. Following the sale, the senior vice president now directly owns 22,061 shares in the company, valued at $1,244,461.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Jones sold 14,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $57.90, for a total transaction of $810,600.00. Following the completion of the sale, the director now owns 537,292 shares in the company, valued at $31,109,206.80. The disclosure for this sale can be found here. Insiders sold 66,286 shares of company stock worth $3,953,464 over the last quarter. Company insiders own 53.61% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were given a $0.03 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.22%. Pegasystems’s dividend payout ratio is presently 19.67%.
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.
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