Wall Street analysts predict that Pegasystems Inc. (NASDAQ:PEGA) will post $202.03 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Pegasystems’ earnings. The lowest sales estimate is $199.69 million and the highest is $205.30 million. Pegasystems posted sales of $196.78 million during the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, August 14th.
On average, analysts expect that Pegasystems will report full year sales of $914.98 million for the current year, with estimates ranging from $880.48 million to $944.55 million. For the next financial year, analysts expect that the business will post sales of $1.03 billion, with estimates ranging from $965.98 million to $1.07 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Pegasystems.
Pegasystems (NASDAQ:PEGA) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The company had revenue of $212.50 million during the quarter, compared to analyst estimates of $237.63 million. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue was down 9.7% compared to the same quarter last year.
A number of analysts have issued reports on PEGA shares. Zacks Investment Research raised Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 target price for the company in a research note on Tuesday, February 19th. BidaskClub raised Pegasystems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $84.00 target price (up from $80.00) on shares of Pegasystems in a research note on Wednesday, February 27th. UBS Group raised their target price on Pegasystems to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Finally, JMP Securities raised their target price on Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $79.20.
Shares of PEGA traded up $0.82 during midday trading on Thursday, reaching $68.62. The company had a trading volume of 290,706 shares, compared to its average volume of 371,734. Pegasystems has a 1-year low of $43.21 and a 1-year high of $76.49. The company has a quick ratio of 1.84, a current ratio of 1.86 and a debt-to-equity ratio of 0.08.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date was Friday, March 29th.
In related news, CAO Efstathios A. Kouninis sold 465 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $65.50, for a total transaction of $30,457.50. Following the completion of the sale, the chief accounting officer now directly owns 1,527 shares of the company’s stock, valued at approximately $100,018.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard H. Jones sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $64.89, for a total value of $1,622,250.00. Following the sale, the director now directly owns 297,537 shares of the company’s stock, valued at $19,307,175.93. The disclosure for this sale can be found here. Insiders have sold a total of 52,903 shares of company stock valued at $3,456,274 over the last three months. Corporate insiders own 52.85% of the company’s stock.
Several large investors have recently modified their holdings of PEGA. Norges Bank acquired a new position in Pegasystems in the 4th quarter valued at about $20,310,000. TIAA CREF Investment Management LLC grew its position in Pegasystems by 10.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 177,381 shares of the technology company’s stock valued at $11,104,000 after acquiring an additional 17,356 shares in the last quarter. Deutsche Bank AG grew its position in Pegasystems by 138.7% in the 4th quarter. Deutsche Bank AG now owns 130,169 shares of the technology company’s stock valued at $6,224,000 after acquiring an additional 75,640 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in Pegasystems by 92.3% in the 4th quarter. Xact Kapitalforvaltning AB now owns 11,044 shares of the technology company’s stock valued at $528,000 after acquiring an additional 5,300 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new position in Pegasystems in the 4th quarter valued at about $300,000. 47.86% of the stock is owned by hedge funds and other institutional investors.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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