Analysts Anticipate Pegasystems Inc. (NASDAQ:PEGA) Will Post Quarterly Sales of $369.86 Million

Brokerages predict that Pegasystems Inc. (NASDAQ:PEGAGet Rating) will post $369.86 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Pegasystems’ earnings, with the lowest sales estimate coming in at $357.00 million and the highest estimate coming in at $376.62 million. Pegasystems posted sales of $325.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.6%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Pegasystems will report full year sales of $1.46 billion for the current financial year, with estimates ranging from $1.41 billion to $1.48 billion. For the next year, analysts anticipate that the company will report sales of $1.73 billion, with estimates ranging from $1.62 billion to $1.81 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Pegasystems.

Pegasystems (NASDAQ:PEGAGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.52. The company had revenue of $376.30 million for the quarter, compared to analysts’ expectations of $363.95 million. Pegasystems had a negative return on equity of 10.05% and a negative net margin of 4.46%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period last year, the firm earned ($0.03) EPS.

PEGA has been the subject of a number of recent analyst reports. Barclays dropped their price target on Pegasystems from $110.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 19th. KeyCorp reduced their price target on shares of Pegasystems from $147.00 to $129.00 and set an “overweight” rating for the company in a research report on Thursday, February 17th. Loop Capital downgraded shares of Pegasystems from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research report on Thursday, February 17th. TheStreet downgraded shares of Pegasystems from a “c-” rating to a “d+” rating in a research report on Thursday, January 27th. Finally, Zacks Investment Research upgraded shares of Pegasystems from a “hold” rating to a “strong-buy” rating and set a $87.00 price target on the stock in a report on Friday, May 6th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pegasystems currently has an average rating of “Buy” and an average target price of $105.70.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its stake in Pegasystems by 6.6% in the 3rd quarter. Invesco Ltd. now owns 1,886,329 shares of the technology company’s stock valued at $239,753,000 after buying an additional 116,834 shares during the last quarter. Praesidium Investment Management Company LLC increased its position in Pegasystems by 7.6% in the 1st quarter. Praesidium Investment Management Company LLC now owns 1,608,263 shares of the technology company’s stock worth $129,706,000 after buying an additional 112,949 shares during the period. Riverbridge Partners LLC lifted its holdings in shares of Pegasystems by 5.9% during the first quarter. Riverbridge Partners LLC now owns 1,494,937 shares of the technology company’s stock worth $120,567,000 after buying an additional 83,551 shares during the last quarter. Foxhaven Asset Management LP boosted its position in shares of Pegasystems by 20.4% in the third quarter. Foxhaven Asset Management LP now owns 1,347,696 shares of the technology company’s stock valued at $171,292,000 after acquiring an additional 228,231 shares during the period. Finally, Southpoint Capital Advisors LP boosted its holdings in Pegasystems by 10.0% in the 3rd quarter. Southpoint Capital Advisors LP now owns 1,100,000 shares of the technology company’s stock valued at $139,810,000 after purchasing an additional 100,000 shares during the period. 48.55% of the stock is currently owned by institutional investors and hedge funds.

Pegasystems stock opened at $46.98 on Thursday. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of -65.25 and a beta of 1.11. Pegasystems has a 1 year low of $36.50 and a 1 year high of $143.66. The firm’s 50 day moving average price is $72.12 and its two-hundred day moving average price is $92.58. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.85 and a current ratio of 1.85.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Friday, April 1st were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Thursday, March 31st. Pegasystems’s payout ratio is -16.67%.

About Pegasystems (Get Rating)

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

See Also

Get a free copy of the Zacks research report on Pegasystems (PEGA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pegasystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pegasystems and related companies with MarketBeat.com's FREE daily email newsletter.