Pegasystems Inc. (PEGA) Forecasted to Post Q1 2018 Earnings of $0.11 Per Share
Pegasystems Inc. (NASDAQ:PEGA) – Wedbush reduced their Q1 2018 earnings estimates for Pegasystems in a research note issued on Tuesday. Wedbush analyst S. Koenig now expects that the technology company will earn $0.11 per share for the quarter, down from their previous forecast of $0.15. Wedbush also issued estimates for Pegasystems’ FY2019 earnings at $0.73 EPS.
A number of other analysts also recently issued reports on the stock. TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Pegasystems from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Finally, BidaskClub upgraded shares of Pegasystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $63.00.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01. Pegasystems had a net margin of 5.67% and a return on equity of 9.86%. The company had revenue of $179.80 million for the quarter, compared to the consensus estimate of $200.15 million. During the same period last year, the company earned $0.17 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year.
A number of hedge funds have recently added to or reduced their stakes in PEGA. Koch Industries Inc. bought a new position in Pegasystems during the second quarter worth $646,000. Contour Asset Management LLC boosted its position in Pegasystems by 39.7% during the second quarter. Contour Asset Management LLC now owns 1,777,848 shares of the technology company’s stock worth $103,737,000 after purchasing an additional 504,955 shares during the period. Eagle Asset Management Inc. boosted its position in Pegasystems by 44.5% during the third quarter. Eagle Asset Management Inc. now owns 1,087,004 shares of the technology company’s stock worth $63,752,000 after purchasing an additional 335,011 shares during the period. Vanguard Group Inc. boosted its position in Pegasystems by 8.1% during the second quarter. Vanguard Group Inc. now owns 3,007,693 shares of the technology company’s stock worth $175,499,000 after purchasing an additional 225,809 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Pegasystems by 122.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 293,801 shares of the technology company’s stock worth $17,143,000 after purchasing an additional 161,668 shares during the period. 45.77% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Douglas I. Kra sold 1,189 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $57.82, for a total transaction of $68,747.98. Following the transaction, the senior vice president now directly owns 25,668 shares in the company, valued at $1,484,123.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael R. Pyle sold 4,000 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $47.61, for a total transaction of $190,440.00. Following the transaction, the vice president now owns 46,524 shares in the company, valued at $2,215,007.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,406 shares of company stock worth $845,950. 53.61% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. Pegasystems’s payout ratio is 20.34%.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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