What is KeyCorp’s Estimate for Pegasystems FY2024 Earnings?

Pegasystems Inc. (NASDAQ:PEGA) – Research analysts at KeyCorp issued their FY2024 EPS estimates for Pegasystems in a report released on Monday, January 13th. KeyCorp analyst D. Au expects that the technology company will post earnings of $1.75 per share for the year. KeyCorp has a “Strong-Buy” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.61 per share. KeyCorp also issued estimates for Pegasystems’ Q4 2024 earnings at $1.30 EPS, Q4 2025 earnings at $1.41 EPS, FY2025 earnings at $1.92 EPS and FY2026 earnings at $2.26 EPS.

A number of other equities research analysts have also recently issued reports on the company. Barclays boosted their price objective on Pegasystems from $74.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Royal Bank of Canada boosted their price target on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wedbush raised their price objective on shares of Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised shares of Pegasystems from a “hold” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Citigroup raised their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Pegasystems presently has an average rating of “Moderate Buy” and an average target price of $93.91.

Pegasystems Price Performance

Shares of NASDAQ PEGA opened at $102.49 on Thursday. The stock has a market capitalization of $8.79 billion, a PE ratio of 74.81 and a beta of 1.09. Pegasystems has a one year low of $45.36 and a one year high of $104.59. The business’s fifty day moving average price is $93.30 and its 200-day moving average price is $77.28.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.35 by $0.04. Pegasystems had a return on equity of 37.83% and a net margin of 8.29%. The business had revenue of $325.10 million for the quarter, compared to the consensus estimate of $326.16 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. Pegasystems’s revenue for the quarter was down 2.8% on a year-over-year basis.

Hedge Funds Weigh In On Pegasystems

A number of hedge funds and other institutional investors have recently modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Pegasystems during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC raised its stake in shares of Pegasystems by 49.1% during the third quarter. Venturi Wealth Management LLC now owns 656 shares of the technology company’s stock worth $48,000 after acquiring an additional 216 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Pegasystems in the 3rd quarter worth approximately $57,000. Capital Performance Advisors LLP bought a new stake in shares of Pegasystems in the 3rd quarter worth approximately $67,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Pegasystems in the 2nd quarter valued at $104,000. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Pegasystems

In related news, CAO Efstathios A. Kouninis sold 299 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $96.90, for a total value of $28,973.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $80.07, for a total value of $80,070.00. Following the sale, the insider now owns 47,119 shares in the company, valued at $3,772,818.33. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,914 shares of company stock valued at $2,414,935 in the last 90 days. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Thursday, January 2nd were paid a $0.03 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.12%. Pegasystems’s dividend payout ratio is currently 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.