Pegasystems (NASDAQ:PEGA) Posts Quarterly Earnings Results

Pegasystems (NASDAQ:PEGA) posted its earnings results on Tuesday. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08), FiscalAI reports. The company had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.During the same quarter in the prior year, the company earned $0.28 EPS.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $30.94 on Wednesday. Pegasystems has a 52-week low of $28.66 and a 52-week high of $68.10. The stock has a fifty day moving average of $32.55 and a 200 day moving average of $40.24. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 16.63 and a beta of 0.87.

Pegasystems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $0.12 annualized dividend and a yield of 0.4%. Pegasystems’s dividend payout ratio (DPR) is currently 6.45%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson reiterated a “buy” rating and set a $55.00 price objective on shares of Pegasystems in a research note on Wednesday, June 10th. Citizens Jmp restated a “market outperform” rating and issued a $58.00 target price on shares of Pegasystems in a research note on Wednesday, June 10th. Citigroup lowered Pegasystems from a “market outperform” rating to a “market perform” rating in a report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price target on shares of Pegasystems in a research report on Thursday, July 16th. Finally, Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.30.

Insider Transactions at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total value of $26,062.50. Following the sale, the chief accounting officer owned 2,894 shares of the company’s stock, valued at $100,566.50. This trade represents a 20.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of Pegasystems stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the sale, the insider owned 107,070 shares of the company’s stock, valued at approximately $3,570,784.50. This trade represents a 4.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,795 shares of company stock worth $229,613 over the last 90 days. Corporate insiders own 48.40% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

Hedge funds have recently bought and sold shares of the stock. EFG International AG bought a new position in shares of Pegasystems in the 4th quarter worth $32,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Pegasystems by 386.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock worth $42,000 after acquiring an additional 564 shares during the last quarter. Transamerica Financial Advisors LLC grew its position in Pegasystems by 89.3% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,473 shares of the technology company’s stock worth $88,000 after acquiring an additional 695 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Pegasystems in the fourth quarter worth $100,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Pegasystems by 100.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,848 shares of the technology company’s stock valued at $100,000 after acquiring an additional 924 shares during the last quarter. 46.89% of the stock is currently owned by institutional investors.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.