FY2024 Earnings Forecast for Pegasystems Issued By KeyCorp

Pegasystems Inc. (NASDAQ:PEGA - Free Report) - Equities researchers at KeyCorp issued their FY2024 earnings per share (EPS) estimates for shares of Pegasystems in a report released on Monday, January 13th. KeyCorp analyst D. Au anticipates that the technology company will post earnings of $1.75 per share for the year. KeyCorp currently 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.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Barclays boosted their price target on Pegasystems from $74.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Friday, October 25th. StockNews.com raised shares of Pegasystems from a "hold" rating to a "buy" rating in a research report on Thursday, November 21st. Citigroup boosted their target price on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, Wedbush raised their target price 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $93.91.

Pegasystems Trading Up 0.8 %

Shares of Pegasystems stock traded up $0.80 during trading hours on Thursday, reaching $103.29. The stock had a trading volume of 960,196 shares, compared to its average volume of 842,602. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 75.39 and a beta of 1.09. Pegasystems has a 1 year low of $45.95 and a 1 year high of $105.34. The firm has a 50 day simple moving average of $93.30 and a two-hundred day simple moving average of $77.28.

Pegasystems (NASDAQ:PEGA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. Pegasystems's revenue for the quarter was down 2.8% compared to the same quarter last year.

Pegasystems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Thursday, January 2nd were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 annualized dividend and a yield of 0.12%. Pegasystems's dividend payout ratio (DPR) is 8.76%.

Insiders Place Their Bets

In related news, CFO Kenneth Stillwell sold 5,792 shares of Pegasystems stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $79.15, for a total value of $458,436.80. Following the sale, the chief financial officer now directly owns 17,400 shares in the company, valued at $1,377,210. This trade represents a 24.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Leon Trefler sold 752 shares of the company's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $93.83, for a total transaction of $70,560.16. Following the completion of the transaction, the insider now owns 37,973 shares of the company's stock, valued at approximately $3,563,006.59. This trade represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,914 shares of company stock valued at $2,414,935 over the last quarter. Insiders own 50.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PEGA. True Wealth Design LLC acquired a new stake in Pegasystems in the third quarter worth about $27,000. Venturi Wealth Management LLC lifted its stake in shares of Pegasystems by 49.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company's stock worth $48,000 after acquiring an additional 216 shares during the period. Financial Management Professionals Inc. bought a new position in shares of Pegasystems in the third quarter valued at approximately $57,000. Capital Performance Advisors LLP acquired a new position in shares of Pegasystems during the third quarter valued at approximately $67,000. Finally, Point72 Hong Kong Ltd bought a new stake in Pegasystems during the second quarter worth approximately $104,000. Institutional investors and hedge funds own 46.89% of the company's stock.

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.