Wall Street brokerages predict that Pegasystems Inc. (NASDAQ:PEGA) will post sales of $236.35 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Pegasystems’ earnings, with estimates ranging from $234.00 million to $239.47 million. Pegasystems reported sales of $235.18 million during the same quarter last year, which suggests a positive year over year growth rate of 0.5%. The company is expected to issue its next earnings report after the market closes on Tuesday, May 7th.
On average, analysts expect that Pegasystems will report full-year sales of $966.29 million for the current financial year, with estimates ranging from $964.97 million to $968.90 million. For the next financial year, analysts forecast that the firm will post sales of $1.09 billion, with estimates ranging from $1.05 billion to $1.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Pegasystems.
Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Wednesday, February 20th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.20. Pegasystems had a return on equity of 0.34% and a net margin of 1.19%. The firm had revenue of $256.36 million during the quarter, compared to analyst estimates of $252.71 million. During the same period in the prior year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year.
PEGA has been the subject of a number of research reports. BidaskClub upgraded Pegasystems from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Zacks Investment Research upgraded 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. Wedbush restated 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. Finally, TheStreet upgraded Pegasystems from a “c” rating to a “b-” rating in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $68.62.
In related news, SVP Leon Trefler sold 948 shares of Pegasystems stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $66.46, for a total value of $63,004.08. Following the completion of the sale, the senior vice president now directly owns 11,627 shares in the company, valued at $772,730.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 465 shares of Pegasystems stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $65.50, for a total value of $30,457.50. Following the completion of the sale, the chief accounting officer now owns 1,527 shares of the company’s stock, valued at $100,018.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,039 shares of company stock valued at $3,471,800. Corporate insiders own 52.85% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in Pegasystems by 46.1% in the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock worth $37,000 after purchasing an additional 250 shares during the period. Lloyds Banking Group plc bought a new position in Pegasystems during the fourth quarter worth about $65,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Pegasystems by 22.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock worth $130,000 after buying an additional 495 shares during the last quarter. We Are One Seven LLC bought a new position in Pegasystems during the fourth quarter worth about $140,000. Finally, SG Americas Securities LLC boosted its holdings in Pegasystems by 17.9% during the fourth quarter. SG Americas Securities LLC now owns 4,159 shares of the technology company’s stock worth $199,000 after buying an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 48.02% of the company’s stock.
Shares of NASDAQ:PEGA traded up $0.22 during midday trading on Tuesday, reaching $70.23. The company’s stock had a trading volume of 355,816 shares, compared to its average volume of 296,244. Pegasystems has a fifty-two week low of $43.21 and a fifty-two week high of $71.36. The firm has a market cap of $5.51 billion, a PE ratio of 3,511.50 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%.
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.
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