$368.86 Million in Sales Expected for Pegasystems Inc. (NASDAQ:PEGA) This Quarter

Equities research analysts expect Pegasystems Inc. (NASDAQ:PEGAGet Rating) to announce $368.86 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pegasystems’ earnings. The highest sales estimate is $375.95 million and the lowest is $357.00 million. Pegasystems reported sales of $325.70 million in the same quarter last year, which indicates a positive year over year growth rate of 13.3%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Pegasystems will report full-year sales of $1.46 billion for the current financial year, with estimates ranging from $1.41 billion to $1.48 billion. For the next year, analysts anticipate that the company will report sales of $1.73 billion, with estimates ranging from $1.62 billion to $1.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Pegasystems.

Pegasystems (NASDAQ:PEGAGet Rating) last posted its earnings results on Thursday, April 28th. The technology company reported $0.35 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.52. The company had revenue of $376.30 million for the quarter, compared to analyst estimates of $363.95 million. Pegasystems had a negative net margin of 4.46% and a negative return on equity of 10.05%. Pegasystems’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) EPS.

PEGA has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “strong-buy” rating and set a $87.00 target price on the stock in a report on Friday, May 6th. Royal Bank of Canada decreased their price objective on shares of Pegasystems from $125.00 to $105.00 in a report on Friday, June 3rd. Truist Financial lowered shares of Pegasystems from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $110.00 to $60.00 in a report on Wednesday, May 11th. Loop Capital decreased their price objective on shares of Pegasystems from $80.00 to $60.00 and set a “hold” rating on the stock in a report on Friday, June 3rd. Finally, Wedbush decreased their price objective on shares of Pegasystems from $155.00 to $115.00 in a report on Thursday, February 17th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pegasystems presently has a consensus rating of “Buy” and a consensus target price of $94.70.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ellevest Inc. increased its position in shares of Pegasystems by 292.9% in the 4th quarter. Ellevest Inc. now owns 334 shares of the technology company’s stock valued at $37,000 after purchasing an additional 249 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of Pegasystems by 1,294.1% in the 4th quarter. First Horizon Advisors Inc. now owns 474 shares of the technology company’s stock valued at $53,000 after purchasing an additional 440 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Pegasystems by 66.7% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 500 shares of the technology company’s stock valued at $40,000 after purchasing an additional 200 shares during the last quarter. Covestor Ltd purchased a new stake in shares of Pegasystems in the 4th quarter valued at approximately $59,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Pegasystems in the 4th quarter valued at approximately $60,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:PEGA opened at $54.01 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -75.01 and a beta of 1.14. The company’s 50-day moving average is $64.32 and its two-hundred day moving average is $85.60. Pegasystems has a 1-year low of $36.50 and a 1-year high of $143.66.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Friday, April 1st were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Thursday, March 31st. Pegasystems’s payout ratio is currently -16.67%.

Pegasystems Company Profile (Get Rating)

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. 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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