Pegasystems (NASDAQ:PEGA) Posts Earnings Results, Misses Estimates By $0.08 EPS

Pegasystems (NASDAQ:PEGA) announced its earnings results on Tuesday. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08), FiscalAI reports. The business had revenue of $420.72 million during the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.

Pegasystems Stock Performance

Pegasystems stock traded down $0.75 during midday trading on Tuesday, hitting $30.94. 5,224,963 shares of the company’s stock were exchanged, compared to its average volume of 2,269,694. Pegasystems has a 52-week low of $28.66 and a 52-week high of $68.10. The stock has a 50-day moving average price of $32.61 and a two-hundred day moving average price of $40.44. The company has a market cap of $5.17 billion, a P/E ratio of 16.63 and a beta of 0.87.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEGA. Wedbush reissued an “outperform” rating and set a $60.00 target price on shares of Pegasystems in a report on Thursday, April 23rd. DA Davidson reiterated a “buy” rating and issued a $55.00 price target on shares of Pegasystems in a research report on Wednesday, June 10th. Citigroup reiterated a “market outperform” rating on shares of Pegasystems in a research note on Wednesday, June 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Pegasystems in a research note on Tuesday, June 9th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and set a $58.00 target price on shares of Pegasystems in a report on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.30.

Insider Activity

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $36.99, for a total value of $27,742.50. Following the sale, the chief accounting officer owned 2,144 shares of the company’s stock, valued at $79,306.56. This trade represents a 25.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total value of $151,575.75. Following the transaction, the insider directly owned 107,070 shares of the company’s stock, valued at $3,570,784.50. The trade was a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 6,795 shares of company stock worth $229,613. Insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

A number of institutional investors have recently made changes to their positions in PEGA. EFG International AG purchased a new stake in shares of Pegasystems during the 4th quarter valued at $32,000. Brown Brothers Harriman & Co. increased its stake in Pegasystems by 386.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock valued at $42,000 after acquiring an additional 564 shares during the last quarter. Transamerica Financial Advisors LLC raised its position in Pegasystems by 89.3% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,473 shares of the technology company’s stock valued at $88,000 after purchasing an additional 695 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Pegasystems during the fourth quarter valued at about $100,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Pegasystems by 100.0% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,848 shares of the technology company’s stock worth $100,000 after purchasing an additional 924 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.