Pegasystems Inc. (NASDAQ:PEGA) to Post FY2022 Earnings of ($1.09) Per Share, KeyCorp Forecasts

Pegasystems Inc. (NASDAQ:PEGA – Get Rating) – Investment analysts at KeyCorp dropped their FY2022 earnings per share estimates for Pegasystems in a research report issued to clients and investors on Wednesday, January 4th. KeyCorp analyst T. Blakey now forecasts that the technology company will post earnings per share of ($1.09) for the year, down from their prior forecast of ($1.05). KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is ($1.08) per share. KeyCorp also issued estimates for Pegasystems’ Q4 2022 earnings at ($0.12) EPS, Q1 2023 earnings at $0.28 EPS, Q2 2023 earnings at ($0.39) EPS, Q3 2023 earnings at ($0.40) EPS and FY2023 earnings at ($0.49) EPS.

Several other research analysts also recently weighed in on PEGA. StockNews.com began coverage on Pegasystems in a report on Wednesday, October 12th. They issued a “hold” rating for the company. The Goldman Sachs Group decreased their price target on shares of Pegasystems from $43.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, October 11th. Royal Bank of Canada decreased their price objective on shares of Pegasystems from $80.00 to $65.00 in a research report on Thursday, October 27th. Barclays cut shares of Pegasystems from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $50.00 to $25.00 in a research report on Tuesday, October 18th. Finally, Citigroup dropped their price objective on shares of Pegasystems from $39.00 to $36.00 in a research note on Friday, October 21st. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, Pegasystems presently has an average rating of “Hold” and an average target price of $56.90.

Pegasystems Trading Down 0.7 %

Shares of Pegasystems stock opened at $34.13 on Monday. The business has a 50 day moving average price of $35.43 and a 200 day moving average price of $38.11. The company has a debt-to-equity ratio of 9.13, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market capitalization of $2.81 billion, a P/E ratio of -6.69 and a beta of 1.01. Pegasystems has a 1 year low of $29.05 and a 1 year high of $105.06.

Pegasystems (NASDAQ:PEGA – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The technology company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.21). The business had revenue of $270.73 million during the quarter, compared to analysts’ expectations of $282.92 million. Pegasystems had a negative net margin of 33.73% and a negative return on equity of 43.51%.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd will be given a $0.03 dividend. The ex-dividend date is Friday, December 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.35%. Pegasystems’s dividend payout ratio (DPR) is presently -2.35%.

Hedge Funds Weigh In On Pegasystems

Large investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund increased its stake in Pegasystems by 71.8% in the second quarter. Illinois Municipal Retirement Fund now owns 21,793 shares of the technology company’s stock valued at $1,043,000 after purchasing an additional 9,110 shares in the last quarter. Clearline Capital LP acquired a new stake in shares of Pegasystems during the 2nd quarter worth about $1,005,000. Diversified Trust Co acquired a new stake in shares of Pegasystems during the 2nd quarter worth about $302,000. Totem Point Management LLC bought a new position in Pegasystems during the second quarter worth about $3,210,000. Finally, Renaissance Technologies LLC increased its position in Pegasystems by 151.7% during the second quarter. Renaissance Technologies LLC now owns 398,424 shares of the technology company’s stock worth $19,061,000 after acquiring an additional 240,100 shares during the period. 48.22% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems Company Profile

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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.