Pegasystems (NASDAQ:PEGA) Issues Earnings Results, Misses Estimates By $0.10 EPS

Pegasystems (NASDAQ:PEGA) issued its quarterly earnings results on Tuesday. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10), FiscalAI reports. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%. The firm had revenue of $393.36 million for the quarter, compared to analyst estimates of $421.06 million.

Pegasystems Trading Up 3.4%

Pegasystems stock traded up $1.19 during mid-day trading on Tuesday, hitting $36.23. The company had a trading volume of 8,587,723 shares, compared to its average volume of 2,391,261. The company has a market capitalization of $5.96 billion, a price-to-earnings ratio of 20.47 and a beta of 0.89. Pegasystems has a 12-month low of $25.10 and a 12-month high of $68.10. The company’s fifty day moving average is $34.88 and its 200-day moving average is $34.44.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, October 1st. Pegasystems’s dividend payout ratio is currently 6.78%.

Insider Activity

In other news, insider Kerim Akgonul sold 7,000 shares of Pegasystems stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $36.03, for a total transaction of $252,210.00. Following the completion of the transaction, the insider directly owned 104,804 shares of the company’s stock, valued at $3,776,088.12. The trade was a 6.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dianne Ledingham sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. Following the completion of the transaction, the director owned 39,280 shares of the company’s stock, valued at approximately $1,492,640. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,672 shares of company stock valued at $1,921,657 in the last quarter. Company insiders own 48.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PEGA shares. Zacks Research raised Pegasystems from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 22nd. Loop Capital downgraded Pegasystems from a “buy” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $25.00 in a report on Thursday, July 23rd. DA Davidson lowered Pegasystems from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research report on Monday, September 28th. William Blair cut shares of Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, Yorkville Ives started coverage on shares of Pegasystems in a report on Wednesday, October 7th. They issued an “outperform” rating and a $43.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Pegasystems has a consensus rating of “Hold” and a consensus target price of $45.64.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.