Wedbush Estimates Pegasystems’ FY2024 Earnings (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGA) – Equities research analysts at Wedbush raised their FY2024 earnings estimates for shares of Pegasystems in a research note issued on Friday, October 25th. Wedbush analyst D. Ives now forecasts that the technology company will post earnings of $1.66 per share for the year, up from their previous estimate of $1.64. Wedbush has a “Outperform” rating and a $100.00 price objective on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.55 per share. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.23 EPS, Q1 2025 earnings at $0.12 EPS, Q2 2025 earnings at $0.28 EPS, Q4 2025 earnings at $1.58 EPS and FY2025 earnings at $2.05 EPS.

PEGA has been the subject of a number of other research reports. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Wednesday, July 31st. Citigroup boosted their price target on Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. StockNews.com raised shares of Pegasystems from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 25th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $84.00 in a research note on Thursday, August 1st. Finally, Rosenblatt Securities increased their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pegasystems currently has a consensus rating of “Moderate Buy” and an average price target of $85.90.

Pegasystems Price Performance

Shares of Pegasystems stock opened at $80.99 on Monday. The stock has a market cap of $6.94 billion, a PE ratio of 59.12 and a beta of 1.07. The firm has a fifty day moving average price of $70.93 and a 200 day moving average price of $64.54. Pegasystems has a 1 year low of $40.72 and a 1 year high of $82.22.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.04. The company had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. Pegasystems’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PEGA. Vanguard Group Inc. lifted its holdings in Pegasystems by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,118,964 shares of the technology company’s stock valued at $250,113,000 after acquiring an additional 114,848 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Pegasystems by 10.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,008 shares of the technology company’s stock worth $294,000 after purchasing an additional 579 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Pegasystems during the 1st quarter worth about $758,000. Duality Advisers LP raised its holdings in Pegasystems by 2.7% in the 1st quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock valued at $885,000 after buying an additional 363 shares during the period. Finally, ClariVest Asset Management LLC lifted its position in Pegasystems by 113.2% in the first quarter. ClariVest Asset Management LLC now owns 39,569 shares of the technology company’s stock valued at $2,558,000 after buying an additional 21,008 shares during the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Insider Activity at Pegasystems

In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the transaction, the insider now directly owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Pegasystems news, CFO Kenneth Stillwell sold 3,019 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $67.55, for a total transaction of $203,933.45. Following the transaction, the chief financial officer now owns 18,197 shares of the company’s stock, valued at approximately $1,229,207.35. The trade was a 0.00 % 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, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $70.41, for a total value of $70,410.00. Following the completion of the sale, the insider now owns 46,505 shares of the company’s stock, valued at approximately $3,274,417.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,548 shares of company stock valued at $3,591,018. 50.10% of the stock is owned by insiders.

Pegasystems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Tuesday, October 1st. Pegasystems’s payout ratio is 8.76%.

About Pegasystems

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients’ processes and workflows.