Equities Analysts Set Expectations for Pegasystems Inc.’s Q3 2024 Earnings (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGA) – Research analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for shares of Pegasystems in a note issued to investors on Thursday, September 26th. Wedbush analyst D. Ives now anticipates that the technology company will post earnings of $0.09 per share for the quarter, down from their prior forecast of $0.16. Wedbush currently has a “Outperform” rating and a $90.00 price objective on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.54 per share. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.17 EPS, FY2024 earnings at $1.64 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $2.03 EPS.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.30. The company had revenue of $351.20 million for the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. Pegasystems’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share.

Other equities research analysts have also issued research reports about the company. JMP Securities upgraded Pegasystems from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on Pegasystems from $78.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Rosenblatt Securities lifted their target price on Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upped their price target on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, William Blair raised shares of Pegasystems from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

Pegasystems Stock Up 1.2 %

PEGA stock opened at $73.09 on Monday. The business’s 50-day moving average price is $67.98 and its 200-day moving average price is $63.01. The stock has a market cap of $6.21 billion, a P/E ratio of 89.13 and a beta of 1.07. Pegasystems has a twelve month low of $37.66 and a twelve month high of $74.40.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.16%. The ex-dividend date is Tuesday, October 1st. Pegasystems’s payout ratio is currently 14.63%.

Insider Activity at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 750 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the transaction, the chief accounting officer now owns 752 shares in the company, valued at approximately $54,211.68. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the insider now owns 50,505 shares of the company’s stock, valued at approximately $3,535,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now directly owns 752 shares in the company, valued at approximately $54,211.68. The disclosure for this sale can be found here. Insiders sold 44,203 shares of company stock valued at $3,078,933 in the last three months. 50.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in Pegasystems in the 2nd quarter valued at $378,000. Seaport Global Advisors LLC grew its stake in Pegasystems by 83.9% in the 2nd quarter. Seaport Global Advisors LLC now owns 15,200 shares of the technology company’s stock valued at $920,000 after acquiring an additional 6,935 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in Pegasystems by 38.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 43,790 shares of the technology company’s stock valued at $2,651,000 after acquiring an additional 12,269 shares during the period. Luxor Capital Group LP lifted its holdings in Pegasystems by 7.9% in the 2nd quarter. Luxor Capital Group LP now owns 683,939 shares of the technology company’s stock valued at $41,399,000 after purchasing an additional 49,861 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Pegasystems by 124.6% in the 2nd quarter. Mackenzie Financial Corp now owns 97,427 shares of the technology company’s stock valued at $5,897,000 after purchasing an additional 54,058 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

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.