Brokers Set Expectations for Pegasystems Inc.’s Q3 2018 Earnings (PEGA)

Pegasystems Inc. (NASDAQ:PEGA) – Equities research analysts at Wedbush lifted their Q3 2018 earnings estimates for Pegasystems in a research note issued on Tuesday. Wedbush analyst S. Koenig now expects that the technology company will earn $0.06 per share for the quarter, up from their previous estimate of $0.04. Wedbush also issued estimates for Pegasystems’ Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.44 EPS.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $200.15 million. Pegasystems had a return on equity of 9.86% and a net margin of 5.67%. Pegasystems’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS.

A number of other brokerages have also recently commented on PEGA. Zacks Investment Research cut Pegasystems from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. TheStreet cut Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Finally, BidaskClub raised Pegasystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.00.

Shares of Pegasystems (PEGA) traded down $0.30 during mid-day trading on Thursday, hitting $49.20. The stock had a trading volume of 236,700 shares, compared to its average volume of 322,686. The company has a market cap of $3,850.00, a PE ratio of 83.39 and a beta of 1.25. Pegasystems has a one year low of $35.90 and a one year high of $64.85.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. Pegasystems’s payout ratio is 20.34%.

In related news, CAO Efstathios A. Kouninis sold 728 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $49.73, for a total transaction of $36,203.44. Following the completion of the sale, the chief accounting officer now directly owns 1,012 shares of the company’s stock, valued at approximately $50,326.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael R. Pyle sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $47.61, for a total transaction of $190,440.00. Following the transaction, the vice president now directly owns 46,524 shares of the company’s stock, valued at $2,215,007.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,406 shares of company stock valued at $845,950. 53.61% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of PEGA. Koch Industries Inc. bought a new position in shares of Pegasystems during the 2nd quarter worth approximately $646,000. Contour Asset Management LLC grew its stake in shares of Pegasystems by 39.7% during the 2nd quarter. Contour Asset Management LLC now owns 1,777,848 shares of the technology company’s stock worth $103,737,000 after acquiring an additional 504,955 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of Pegasystems by 44.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,087,004 shares of the technology company’s stock worth $63,752,000 after acquiring an additional 335,011 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Pegasystems by 8.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock worth $175,499,000 after acquiring an additional 225,809 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Pegasystems by 122.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 293,801 shares of the technology company’s stock worth $17,143,000 after acquiring an additional 161,668 shares in the last quarter. 45.77% of the stock is owned by institutional investors.

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Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.

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