Pegasystems Inc. (PEGA) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Pegasystems Inc. (NASDAQ:PEGA) announced its earnings results on Wednesday. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by $0.04, Morningstar.com reports. Pegasystems had a return on equity of 14.77% and a net margin of 5.26%. The business had revenue of $197.98 million for the quarter, compared to analyst estimates of $205.06 million. During the same quarter last year, the company posted $0.19 EPS. Pegasystems’s quarterly revenue was up 4.8% on a year-over-year basis.

Shares of Pegasystems (NASDAQ:PEGA) traded down 1.11% during midday trading on Thursday, reaching $57.65. 246,033 shares of the company were exchanged. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 105.78 and a beta of 1.46. The company’s 50-day moving average price is $60.01 and its 200 day moving average price is $50.22. Pegasystems has a 52-week low of $24.71 and a 52-week high of $64.85.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Monday, July 3rd were given a $0.03 dividend. The ex-dividend date was Thursday, June 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.21%. Pegasystems’s payout ratio is currently 23.08%.

PEGA has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Benchmark Co. reiterated a “buy” rating and set a $67.00 target price (up previously from $60.00) on shares of Pegasystems in a research note on Tuesday, June 6th. Mitsubishi UFJ Financial Group set a $57.00 target price on shares of Pegasystems and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 target price (down previously from $67.00) on shares of Pegasystems in a research note on Tuesday, June 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $63.00.

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In other Pegasystems news, Director Richard H. Jones sold 19,600 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $55.65, for a total value of $1,090,740.00. Following the completion of the transaction, the director now owns 569,769 shares in the company, valued at approximately $31,707,644.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Leon Trefler sold 9,060 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $64.30, for a total transaction of $582,558.00. Following the completion of the transaction, the senior vice president now owns 11,218 shares of the company’s stock, valued at approximately $721,317.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,886 shares of company stock valued at $5,044,204. 53.61% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in Pegasystems by 1.3% in the second quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock valued at $280,000 after buying an additional 62 shares during the period. Legal & General Group Plc boosted its position in Pegasystems by 1.1% in the second quarter. Legal & General Group Plc now owns 14,206 shares of the technology company’s stock valued at $830,000 after buying an additional 155 shares during the period. US Bancorp DE boosted its position in Pegasystems by 0.9% in the first quarter. US Bancorp DE now owns 19,856 shares of the technology company’s stock valued at $871,000 after buying an additional 171 shares during the period. Nationwide Fund Advisors boosted its position in Pegasystems by 0.4% in the first quarter. Nationwide Fund Advisors now owns 51,537 shares of the technology company’s stock valued at $2,260,000 after buying an additional 219 shares during the period. Finally, Suntrust Banks Inc. boosted its position in Pegasystems by 3.0% in the first quarter. Suntrust Banks Inc. now owns 8,471 shares of the technology company’s stock valued at $371,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 44.79% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

Earnings History for Pegasystems (NASDAQ:PEGA)

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