Pegasystems (PEGA) Releases Earnings Results, Beats Estimates By $0.20 EPS

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Pegasystems (NASDAQ:PEGA) posted its quarterly earnings data on Wednesday. The technology company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.20, Bloomberg Earnings reports. The business had revenue of $256.36 million during the quarter, compared to analyst estimates of $252.71 million. Pegasystems had a negative net margin of 1.08% and a negative return on equity of 0.90%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. Pegasystems updated its FY 2019 guidance to $0.50-0.50 EPS and its FY19 guidance to $0.50 EPS.

Shares of PEGA stock opened at $59.42 on Thursday. Pegasystems has a one year low of $43.21 and a one year high of $67.95. The company has a market cap of $4.59 billion, a P/E ratio of 270.09 and a beta of 1.26.

In related news, CFO Kenneth Stillwell sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $54.17, for a total transaction of $81,255.00. Following the completion of the transaction, the chief financial officer now owns 12,259 shares of the company’s stock, valued at $664,070.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leon Trefler sold 1,474 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $47.34, for a total transaction of $69,779.16. The disclosure for this sale can be found here. Insiders have sold 11,365 shares of company stock valued at $600,203 in the last ninety days. 52.85% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of PEGA. Marshall Wace LLP acquired a new position in Pegasystems during the third quarter worth approximately $37,789,000. Standard Life Aberdeen plc grew its stake in Pegasystems by 63.0% during the third quarter. Standard Life Aberdeen plc now owns 1,238,757 shares of the technology company’s stock worth $77,608,000 after buying an additional 478,916 shares during the period. SQN Investors LP grew its stake in Pegasystems by 27.8% during the fourth quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock worth $101,299,000 after buying an additional 460,938 shares during the period. Lee Capital Asset Management LLC purchased a new stake in Pegasystems during the fourth quarter worth approximately $7,697,000. Finally, Panagora Asset Management Inc. grew its stake in Pegasystems by 219.2% during the third quarter. Panagora Asset Management Inc. now owns 234,273 shares of the technology company’s stock worth $14,665,000 after buying an additional 160,884 shares during the period. 45.23% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Wedbush cut their price objective on shares of Pegasystems from $80.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, November 8th. BidaskClub raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Finally, ValuEngine raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 30th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.20.

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Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.

Read More: Why Net Income is Important to Investors

Earnings History for Pegasystems (NASDAQ:PEGA)

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