Pegasystems (NASDAQ:PEGA) Announces Quarterly Earnings Results

Pegasystems (NASDAQ:PEGA) issued its earnings results on Tuesday. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10), FiscalAI reports. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The firm had revenue of $393.36 million for the quarter, compared to the consensus estimate of $421.06 million.

Pegasystems Trading Up 3.4%

Shares of PEGA traded up $1.19 during trading hours on Tuesday, hitting $36.23. The company had a trading volume of 8,360,704 shares, compared to its average volume of 2,386,974. The company has a market capitalization of $5.96 billion, a PE ratio of 20.47 and a beta of 0.89. Pegasystems has a one year low of $25.10 and a one year high of $68.10. The company’s fifty day moving average price is $34.88 and its two-hundred day moving average price is $34.44.

Pegasystems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 1st were issued a $0.03 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is currently 6.78%.

Insider Buying and Selling

In related news, insider Kerim Akgonul sold 7,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $36.03, for a total transaction of $252,210.00. Following the sale, the insider owned 104,804 shares of the company’s stock, valued at $3,776,088.12. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Efstathios Kouninis sold 982 shares of Pegasystems stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $37.35, for a total value of $36,677.70. Following the completion of the transaction, the chief accounting officer owned 1,009 shares in the company, valued at $37,686.15. This trade represents a 49.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 53,672 shares of company stock valued at $1,921,657. Company insiders own 48.40% of the company’s stock.

Wall Street Analysts Forecast Growth

PEGA has been the topic of several research reports. Yorkville Ives initiated coverage on Pegasystems in a research note on Wednesday, October 7th. They set an “outperform” rating and a $43.00 price target on the stock. Loop Capital lowered shares of Pegasystems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $55.00 to $25.00 in a research note on Thursday, July 23rd. William Blair lowered shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Citigroup dropped their target price on shares of Pegasystems from $55.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 13th. Finally, Weiss Ratings raised shares of Pegasystems from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $45.64.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.