Pegasystems (PEGA) Set to Announce Earnings on Wednesday

Pegasystems (NASDAQ:PEGA) is set to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Pegasystems to post earnings of $0.49 per share for the quarter. Pegasystems has set its FY24 guidance at $2.75 EPS and its FY 2024 guidance at 2.750-2.750 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, February 14th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.64. Pegasystems had a net margin of 4.73% and a return on equity of 39.30%. The company had revenue of $474.23 million during the quarter, compared to analyst estimates of $428.76 million. On average, analysts expect Pegasystems to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Pegasystems Stock Performance

NASDAQ:PEGA opened at $58.72 on Wednesday. Pegasystems has a twelve month low of $37.66 and a twelve month high of $69.26. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 1.41. The company has a 50-day moving average of $62.03 and a 200-day moving average of $52.37. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 82.71 and a beta of 1.06.

Pegasystems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 1st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Thursday, March 28th. Pegasystems’s payout ratio is 16.90%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Pegasystems from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Barclays reduced their target price on shares of Pegasystems from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Monday. StockNews.com upgraded shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 13th. DA Davidson restated a “neutral” rating and issued a $60.00 price objective on shares of Pegasystems in a research note on Monday, March 4th. Finally, Citigroup boosted their price objective on shares of Pegasystems from $86.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Insider Transactions at Pegasystems

In other news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $63.70, for a total value of $127,400.00. Following the sale, the chief financial officer now owns 24,884 shares of the company’s stock, valued at approximately $1,585,110.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $63.70, for a total transaction of $127,400.00. Following the transaction, the chief financial officer now owns 24,884 shares in the company, valued at approximately $1,585,110.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Efstathios A. Kouninis sold 395 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $64.75, for a total transaction of $25,576.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,792 shares of company stock valued at $2,781,669. 50.20% of the stock is owned by insiders.

Institutional Trading of Pegasystems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bares Capital Management Inc. increased its stake in Pegasystems by 1.2% during the 4th quarter. Bares Capital Management Inc. now owns 5,550,701 shares of the technology company’s stock worth $190,056,000 after purchasing an additional 65,467 shares in the last quarter. Vanguard Group Inc. increased its stake in Pegasystems by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock worth $250,113,000 after purchasing an additional 114,848 shares in the last quarter. Capital Research Global Investors increased its stake in Pegasystems by 119.1% during the 1st quarter. Capital Research Global Investors now owns 2,142,547 shares of the technology company’s stock worth $172,796,000 after purchasing an additional 1,164,581 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Pegasystems by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 686,532 shares of the technology company’s stock worth $33,846,000 after acquiring an additional 30,879 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Pegasystems during the 4th quarter worth approximately $14,212,000. 46.89% of the stock is owned by institutional investors.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.