Pegasystems Inc. (NASDAQ:PEGA) – Equities researchers at DA Davidson decreased their Q4 2019 earnings per share (EPS) estimates for Pegasystems in a research note issued to investors on Wednesday, May 8th. DA Davidson analyst R. Jaluria now anticipates that the technology company will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.14.
A number of other research analysts have also recently commented on PEGA. BidaskClub upgraded Pegasystems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded Pegasystems from a “strong sell” rating to a “hold” rating and set a $67.00 price target on the stock in a research report on Tuesday, February 19th. Wedbush restated an “outperform” rating and issued a $66.86 price target on shares of Pegasystems in a research report on Wednesday, April 10th. TheStreet upgraded Pegasystems from a “c” rating to a “b-” rating in a research report on Friday, March 22nd. Finally, UBS Group raised their price target on Pegasystems to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $79.20.
Pegasystems (NASDAQ:PEGA) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.31) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $212.50 million for the quarter, compared to analyst estimates of $237.63 million. During the same period in the prior year, the business posted $0.24 EPS. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year.
The business also recently declared 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 dividend yield of 0.17%. The ex-dividend date was Friday, March 29th.
In other Pegasystems news, SVP Leon Trefler sold 1,464 shares of Pegasystems stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $73.67, for a total value of $107,852.88. Following the transaction, the senior vice president now owns 10,555 shares in the company, valued at $777,586.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 465 shares of Pegasystems stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $65.50, for a total value of $30,457.50. Following the completion of the transaction, the chief accounting officer now owns 1,527 shares in the company, valued at approximately $100,018.50. The disclosure for this sale can be found here. Insiders sold 52,403 shares of company stock worth $3,421,274 in the last 90 days. 52.85% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its position in Pegasystems by 4.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,489 shares of the technology company’s stock valued at $291,000 after acquiring an additional 196 shares during 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 acquiring an additional 250 shares during the last quarter. California State Teachers Retirement System grew its position in Pegasystems by 0.5% in the first quarter. California State Teachers Retirement System now owns 59,518 shares of the technology company’s stock valued at $3,869,000 after acquiring an additional 269 shares during the last quarter. 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 acquiring an additional 347 shares during the last quarter. Finally, 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 acquiring an additional 495 shares during the last quarter. Hedge funds and other institutional investors own 47.86% of the company’s stock.
Pegasystems Company Profile
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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