Pegasystems Inc. (NASDAQ:PEGA) – Equities researchers at Wedbush lifted their Q3 2018 EPS estimates for Pegasystems in a research report issued on Tuesday, according to Zacks Investment Research. Wedbush analyst S. Koenig now expects that the technology company will post earnings of $0.06 per share for the quarter, up from their prior forecast of $0.04. Wedbush also issued estimates for Pegasystems’ Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.44 EPS.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Pegasystems from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a research note on Wednesday, November 22nd. Finally, BidaskClub upgraded shares of Pegasystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. Pegasystems currently has an average rating of “Hold” and an average target price of $63.00.
Pegasystems (NASDAQ PEGA) traded up $0.35 during mid-day trading on Thursday, hitting $49.55. 409,600 shares of the company traded hands, compared to its average volume of 331,964. Pegasystems has a fifty-two week low of $37.10 and a fifty-two week high of $64.85. The firm has a market capitalization of $3,930.00, a P/E ratio of 83.98 and a beta of 1.25.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $200.15 million. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share.
A number of institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in Pegasystems by 15.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 223,217 shares of the technology company’s stock worth $10,525,000 after buying an additional 29,168 shares in the last quarter. California Public Employees Retirement System grew its stake in Pegasystems by 7.6% during the third quarter. California Public Employees Retirement System now owns 114,729 shares of the technology company’s stock worth $6,614,000 after buying an additional 8,129 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Pegasystems by 20.5% during the third quarter. Allianz Asset Management GmbH now owns 694,965 shares of the technology company’s stock worth $40,065,000 after buying an additional 118,445 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in Pegasystems during the third quarter worth about $1,783,000. Finally, Mackenzie Financial Corp acquired a new stake in Pegasystems during the third quarter worth about $1,415,000. Hedge funds and other institutional investors own 45.77% of the company’s stock.
In other Pegasystems news, VP Michael R. Pyle sold 4,000 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $47.61, for a total transaction of $190,440.00. Following the sale, the vice president now directly owns 46,524 shares in the company, valued at $2,215,007.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas I. Kra sold 1,189 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $57.82, for a total transaction of $68,747.98. Following the sale, the senior vice president now owns 25,668 shares in the company, valued at $1,484,123.76. The disclosure for this sale can be found here. Insiders sold 16,406 shares of company stock worth $845,950 over the last 90 days. 53.61% of the stock is currently owned by corporate insiders.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, December 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.24%. Pegasystems’s dividend payout ratio (DPR) is presently 20.34%.
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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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