Wedbush Has Strong Estimate for Pegasystems FY2024 Earnings

Pegasystems Inc. (NASDAQ:PEGA - Free Report) - Research analysts at Wedbush raised their FY2024 earnings estimates for shares of Pegasystems in a note issued to investors on Friday, October 25th. Wedbush analyst D. Ives now expects that the technology company will post earnings per share of $1.66 for the year, up from their prior estimate of $1.64. Wedbush currently has a "Outperform" rating and a $100.00 price target on the stock. The consensus estimate for Pegasystems' current full-year earnings is $1.55 per share. Wedbush also issued estimates for Pegasystems' Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.28 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $2.05 EPS.

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

Several other brokerages also recently issued reports on PEGA. Rosenblatt Securities raised their price objective on shares of Pegasystems from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday. Citigroup raised their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. JMP Securities raised shares of Pegasystems from a "market perform" rating to an "outperform" rating and set a $85.00 target price on the stock in a research report on Wednesday, July 31st. DA Davidson raised their target price on shares of Pegasystems from $60.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, July 26th. Finally, The Goldman Sachs Group raised their target price on shares of Pegasystems from $70.00 to $78.00 and gave the stock a "neutral" rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $85.90.

Pegasystems Stock Performance

NASDAQ PEGA traded up $0.27 during trading on Monday, hitting $80.30. The stock had a trading volume of 579,158 shares, compared to its average volume of 549,546. The stock has a market capitalization of $6.89 billion, a price-to-earnings ratio of 58.61 and a beta of 1.07. Pegasystems has a one year low of $40.72 and a one year high of $82.22. The stock has a 50 day simple moving average of $70.66 and a 200 day simple moving average of $64.40.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems's payout ratio is 8.76%.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total transaction of $54,067.50. Following the transaction, the chief accounting officer now directly owns 752 shares of the company's stock, valued at $54,211.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Pegasystems news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,211.68. Following the transaction, the insider now directly owns 38,412 shares of the company's stock, valued at approximately $2,769,121.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the completion of the transaction, the chief accounting officer now directly owns 752 shares in the company, valued at $54,211.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,955 shares of company stock valued at $3,136,247 over the last ninety days. 50.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pegasystems

Institutional investors and hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in Pegasystems by 15,120.0% in the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company's stock worth $46,000 after purchasing an additional 756 shares during the last quarter. Headlands Technologies LLC grew its holdings in Pegasystems by 64.0% in the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company's stock worth $56,000 after purchasing an additional 339 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Pegasystems during the third quarter worth $57,000. Covestor Ltd lifted its stake in shares of Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company's stock worth $80,000 after buying an additional 1,065 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Pegasystems during the second quarter worth $104,000. 46.89% of the stock is owned by hedge funds and other institutional investors.

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.