Pegasystems (NASDAQ:PEGA) Announces Quarterly Earnings Results

Pegasystems (NASDAQ:PEGA) released its quarterly earnings results on Tuesday. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10), FiscalAI reports. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%. The firm had revenue of $393.36 million during the quarter, compared to analysts’ expectations of $421.06 million.

Pegasystems Price Performance

NASDAQ:PEGA traded up $1.19 during trading hours on Tuesday, hitting $36.23. 8,360,704 shares of the company were exchanged, compared to its average volume of 2,386,974. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 20.47 and a beta of 0.89. Pegasystems has a 52-week low of $25.10 and a 52-week high of $68.10. The company’s 50 day moving average price is $34.88 and its 200-day moving average price is $34.44.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 1st were paid a $0.03 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Pegasystems’s dividend payout ratio (DPR) is 6.78%.

Insider Activity at Pegasystems

In other Pegasystems news, insider Kerim Akgonul sold 7,000 shares of the firm’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $36.03, for a total value of $252,210.00. Following the completion of the transaction, the insider owned 104,804 shares of the company’s stock, valued at approximately $3,776,088.12. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kenneth Stillwell sold 39,627 shares of Pegasystems stock in a transaction on Friday, September 11th. The stock was sold at an average price of $35.77, for a total transaction of $1,417,457.79. Following the sale, the chief financial officer owned 95,225 shares of the company’s stock, valued at $3,406,198.25. The trade was a 29.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 53,672 shares of company stock worth $1,921,657. 48.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PEGA has been the topic of a number of recent analyst reports. Yorkville Ives initiated coverage on Pegasystems in a research report on Wednesday, October 7th. They set an “outperform” rating and a $43.00 price target on the stock. Barclays reissued an “overweight” rating and issued a $43.00 price objective (up from $39.00) on shares of Pegasystems in a research report on Tuesday, October 13th. Citigroup dropped their target price on Pegasystems from $55.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. William Blair downgraded Pegasystems from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 22nd. Finally, DA Davidson lowered Pegasystems from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research report on Monday, September 28th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Pegasystems has a consensus rating of “Hold” and a consensus target price of $45.64.

About Pegasystems

Pegasystems Inc is a software company that develops enterprise applications for customer engagement, workflow automation and business process management. Its technology helps organizations manage customer interactions, automate repetitive work, coordinate complex processes and make data-driven decisions across departments and channels.

The company’s portfolio includes Pega Platform, a low-code application development and workflow platform, along with solutions for customer service, sales automation, marketing, decisioning and artificial intelligence.