KeyCorp Forecasts Pegasystems' FY2024 Earnings (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGA - Free Report) - KeyCorp issued their FY2024 earnings estimates for shares of Pegasystems in a research report issued to clients and investors on Monday, January 13th. KeyCorp analyst D. Au expects that the technology company will post earnings of $1.75 per share for the year. KeyCorp 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.

Several other analysts have also issued reports on the stock. Wedbush boosted their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Citigroup upped their price objective on shares of Pegasystems from $99.00 to $123.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on shares of Pegasystems from $90.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Barclays raised 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. Finally, StockNews.com raised Pegasystems from a "hold" rating to a "buy" rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.91.

Pegasystems Stock Performance

Shares of Pegasystems stock traded up $2.49 during trading hours on Thursday, hitting $102.49. The company's stock had a trading volume of 1,303,802 shares, compared to its average volume of 847,200. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 74.81 and a beta of 1.09. Pegasystems has a twelve month low of $45.36 and a twelve month high of $104.59. The firm has a fifty day moving average of $93.30 and a 200-day moving average of $77.28.

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

Hedge Funds Weigh In On Pegasystems

Hedge funds have recently added to or reduced their stakes in the stock. Greenwood Capital Associates LLC acquired a new position in shares of Pegasystems in the 3rd quarter valued at $436,000. Crossmark Global Holdings Inc. lifted its position in Pegasystems by 110.0% in the third quarter. Crossmark Global Holdings Inc. now owns 25,195 shares of the technology company's stock valued at $1,842,000 after acquiring an additional 13,200 shares during the last quarter. Foundry Partners LLC purchased a new stake in Pegasystems in the third quarter valued at $9,567,000. Nordea Investment Management AB boosted its stake in Pegasystems by 9.9% in the fourth quarter. Nordea Investment Management AB now owns 88,554 shares of the technology company's stock valued at $8,353,000 after acquiring an additional 7,947 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Pegasystems during the second quarter worth about $67,968,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 528 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.00, for a total value of $43,824.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth Stillwell sold 5,792 shares of the firm's stock in a transaction dated Friday, October 25th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 27,914 shares of company stock valued at $2,414,935 over the last 90 days. 50.10% of the stock is owned by corporate insiders.

Pegasystems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. Pegasystems's payout ratio is 8.76%.

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.