Pegasystems Inc. (NASDAQ:PEGA) – Stock analysts at Wedbush reduced their Q2 2019 earnings estimates for Pegasystems in a research note issued on Wednesday, May 8th. Wedbush analyst S. Koenig now expects that the technology company will post earnings per share of ($0.37) for the quarter, down from their previous estimate of ($0.29). Wedbush currently has a “Outperform” rating and a $90.00 target price on the stock. Wedbush also issued estimates for Pegasystems’ Q3 2019 earnings at ($0.26) EPS, Q4 2019 earnings at $0.27 EPS, FY2019 earnings at ($0.65) EPS, Q1 2020 earnings at ($0.21) EPS, Q2 2020 earnings at ($0.34) EPS, Q3 2020 earnings at ($0.26) EPS, Q4 2020 earnings at $0.30 EPS and FY2020 earnings at ($0.51) EPS.
Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.24). Pegasystems had a negative return on equity of 4.85% and a negative net margin of 3.49%. The company had revenue of $212.50 million for the quarter, compared to the consensus estimate of $237.63 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was down 9.7% on a year-over-year basis.
PEGA has been the subject of several other research reports. Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price objective for the company in a research report on Tuesday, February 19th. BidaskClub raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. UBS Group increased their price objective on shares of Pegasystems to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. JMP Securities increased their price objective on shares of Pegasystems from $72.00 to $81.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 8th. Finally, Benchmark reissued a “buy” rating and set a $80.00 price objective (up previously from $72.00) on shares of Pegasystems in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.20.
Shares of PEGA stock opened at $70.65 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.84 and a debt-to-equity ratio of 0.08. Pegasystems has a 12-month low of $43.21 and a 12-month high of $76.49.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date was Friday, March 29th.
In related news, CFO Kenneth Stillwell sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $73.70, for a total value of $73,700.00. Following the completion of the transaction, the chief financial officer now owns 6,369 shares of the company’s stock, valued at $469,395.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Efstathios A. Kouninis sold 515 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $66.00, for a total transaction of $33,990.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,403 shares of company stock valued at $3,421,274. 52.85% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC grew its position in Pegasystems by 542.2% in the first quarter. Quantamental Technologies LLC now owns 411 shares of the technology company’s stock valued at $27,000 after purchasing an additional 347 shares in the last quarter. Parallel Advisors LLC grew its position in Pegasystems by 46.1% in the fourth quarter. Parallel Advisors LLC now owns 792 shares of the technology company’s stock valued at $37,000 after purchasing an additional 250 shares in the last quarter. Lloyds Banking Group plc bought a new position in Pegasystems in the fourth quarter valued at $65,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pegasystems by 22.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,725 shares of the technology company’s stock valued at $130,000 after purchasing an additional 495 shares in the last quarter. Finally, We Are One Seven LLC bought a new position in Pegasystems in the fourth quarter valued at $140,000. 47.86% of the stock is owned by institutional investors and hedge funds.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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