Pegasystems Inc. (NASDAQ:PEGA) Forecasted to Earn Q1 2023 Earnings of $0.07 Per Share

Pegasystems Inc. (NASDAQ:PEGA – Get Rating) – Analysts at William Blair issued their Q1 2023 earnings estimates for Pegasystems in a note issued to investors on Thursday, March 9th. William Blair analyst J. Roberge forecasts that the technology company will earn $0.07 per share for the quarter. William Blair has a “Market Perform” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $0.24 per share. William Blair also issued estimates for Pegasystems’ Q2 2023 earnings at ($0.26) EPS, Q3 2023 earnings at ($0.15) EPS, Q4 2023 earnings at $0.75 EPS, FY2023 earnings at $0.43 EPS, Q1 2024 earnings at $0.23 EPS, Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at $0.94 EPS and FY2024 earnings at $1.14 EPS.

A number of other equities analysts also recently commented on the stock. Loop Capital boosted their target price on shares of Pegasystems from $35.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, February 16th. The Goldman Sachs Group boosted their target price on shares of Pegasystems from $31.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Royal Bank of Canada boosted their target price on shares of Pegasystems from $42.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. StockNews.com downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Thursday, March 2nd. Finally, Credit Suisse Group upped their price objective on shares of Pegasystems from $40.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.20.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $44.43 on Monday. The company has a market capitalization of $3.66 billion, a PE ratio of -10.50 and a beta of 1.03. The company has a debt-to-equity ratio of 4.54, a quick ratio of 1.57 and a current ratio of 1.57. The company has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $37.05. Pegasystems has a one year low of $29.05 and a one year high of $83.41.

Institutional Investors Weigh In On Pegasystems

Several hedge funds have recently bought and sold shares of the stock. Natixis boosted its position in Pegasystems by 38.2% in the 4th quarter. Natixis now owns 67,212 shares of the technology company’s stock worth $2,301,000 after purchasing an additional 18,563 shares in the last quarter. Point72 Middle East FZE purchased a new stake in Pegasystems in the 4th quarter worth approximately $179,000. Captrust Financial Advisors purchased a new stake in Pegasystems in the 4th quarter worth approximately $246,000. Bares Capital Management Inc. lifted its position in shares of Pegasystems by 1.2% during the 4th quarter. Bares Capital Management Inc. now owns 5,550,701 shares of the technology company’s stock valued at $190,056,000 after buying an additional 65,467 shares in the last quarter. Finally, Norges Bank acquired a new stake in Pegasystems in the 4th quarter valued at $14,212,000. Hedge funds and other institutional investors own 48.22% of the company’s stock.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,622 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $48.59, for a total value of $78,812.98. Following the sale, the insider now owns 50,592 shares in the company, valued at $2,458,265.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. 50.50% of the stock is owned by insiders.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Investors of record on Tuesday, January 3rd were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $0.12 dividend on an annualized basis and a yield of 0.27%. Pegasystems’s dividend payout ratio is currently -2.84%.

Pegasystems Company Profile

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Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. Its product Pega Infinity helps connect enterprises to their customers in real-time across channels, streamline business operations, and adapt to meet changing requirements.