Pegasystems (NASDAQ:PEGA) Announces Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Pegasystems (NASDAQ:PEGA) issued its quarterly earnings data on Tuesday. The technology company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08), FiscalAI reports. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The business had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million.

Pegasystems Stock Performance

Shares of NASDAQ PEGA traded down $0.75 during trading hours on Tuesday, hitting $30.94. The stock had a trading volume of 6,967,743 shares, compared to its average volume of 2,285,908. Pegasystems has a 52 week low of $28.66 and a 52 week high of $68.10. The firm’s 50-day moving average price is $32.61 and its two-hundred day moving average price is $40.44. The company has a market capitalization of $5.17 billion, a P/E ratio of 16.63 and a beta of 0.87.

Pegasystems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.03 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Pegasystems’s payout ratio is currently 6.45%.

Insider Activity at Pegasystems

In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $36.99, for a total value of $27,742.50. Following the completion of the transaction, the chief accounting officer owned 2,144 shares of the company’s stock, valued at $79,306.56. This represents a 25.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total value of $151,575.75. Following the completion of the sale, the insider owned 107,070 shares in the company, valued at $3,570,784.50. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,795 shares of company stock valued at $229,613 over the last three months. 48.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. EFG International AG acquired a new position in Pegasystems in the fourth quarter valued at about $32,000. Brown Brothers Harriman & Co. grew its position in Pegasystems by 386.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the technology company’s stock worth $42,000 after purchasing an additional 564 shares in the last quarter. Transamerica Financial Advisors LLC boosted its holdings in shares of Pegasystems by 89.3% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,473 shares of the technology company’s stock worth $88,000 after buying an additional 695 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Pegasystems during the fourth quarter valued at $100,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Pegasystems by 100.0% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,848 shares of the technology company’s stock worth $100,000 after purchasing an additional 924 shares in the last quarter. 46.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEGA has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Pegasystems in a report on Thursday, April 23rd. Zacks Research lowered shares of Pegasystems from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 24th. Citizens Jmp restated a “market outperform” rating and issued a $58.00 price target on shares of Pegasystems in a research note on Wednesday, June 10th. Citigroup reaffirmed a “market outperform” rating on shares of Pegasystems in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Pegasystems in a research report on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $63.30.

Pegasystems Company Profile

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.