Pegasystems Inc. (NASDAQ:PEGA) Forecasted to Earn Q1 2023 Earnings of $0.07 Per Share

Pegasystems Inc. (NASDAQ:PEGA – Get Rating) – William Blair issued their Q1 2023 earnings estimates for shares of Pegasystems in a report issued on Thursday, March 9th. William Blair analyst J. Roberge forecasts that the technology company will earn $0.07 per share for the quarter. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $0.24 per share. William Blair also issued estimates for Pegasystems’ Q2 2023 earnings at ($0.26) EPS, Q3 2023 earnings at ($0.15) EPS, Q4 2023 earnings at $0.75 EPS, FY2023 earnings at $0.43 EPS, Q1 2024 earnings at $0.23 EPS, Q2 2024 earnings at ($0.01) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at $0.94 EPS and FY2024 earnings at $1.14 EPS.

Several other research firms also recently weighed in on PEGA. StockNews.com downgraded Pegasystems from a “buy” rating to a “hold” rating in a report on Thursday, March 2nd. Citigroup boosted their target price on Pegasystems from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, February 17th. Loop Capital boosted their target price on Pegasystems from $35.00 to $45.00 and gave the company a “hold” rating in a report on Thursday, February 16th. The Goldman Sachs Group boosted their target price on Pegasystems from $31.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, February 17th. Finally, Credit Suisse Group upped their price objective on Pegasystems from $40.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.20.

Pegasystems Price Performance

Shares of PEGA opened at $44.43 on Monday. The firm has a fifty day moving average price of $40.79 and a 200 day moving average price of $37.05. The stock has a market cap of $3.66 billion, a PE ratio of -10.50 and a beta of 1.03. Pegasystems has a 1-year low of $29.05 and a 1-year high of $83.41. The company has a debt-to-equity ratio of 4.54, a current ratio of 1.57 and a quick ratio of 1.57.

Pegasystems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 17th. Shareholders of record on Tuesday, January 3rd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 30th. Pegasystems’s payout ratio is -2.84%.

Insiders Place Their Bets

In other Pegasystems news, insider Rifat Kerim Akgonul sold 1,622 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $48.59, for a total transaction of $78,812.98. Following the transaction, the insider now owns 50,592 shares in the company, valued at approximately $2,458,265.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 50.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pegasystems

Institutional investors and hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of Pegasystems by 1,291.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 687,633 shares of the technology company’s stock worth $22,101,000 after acquiring an additional 638,222 shares during the period. Federated Hermes Inc. grew its holdings in Pegasystems by 63.7% during the 3rd quarter. Federated Hermes Inc. now owns 699,319 shares of the technology company’s stock valued at $22,476,000 after buying an additional 272,035 shares during the last quarter. Clearline Capital LP acquired a new stake in Pegasystems during the 2nd quarter valued at $1,005,000. Bares Capital Management Inc. grew its holdings in Pegasystems by 3.8% during the 3rd quarter. Bares Capital Management Inc. now owns 5,485,234 shares of the technology company’s stock valued at $176,295,000 after buying an additional 201,420 shares during the last quarter. Finally, Cadian Capital Management LP grew its holdings in Pegasystems by 530.9% during the 3rd quarter. Cadian Capital Management LP now owns 1,247,500 shares of the technology company’s stock valued at $40,095,000 after buying an additional 1,049,770 shares during the last quarter. Institutional investors and hedge funds own 48.22% of the company’s stock.

About Pegasystems

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Pegasystems, Inc engages in the development, market, license, and support of software, which allows organizations to build, deploy, and change enterprise applications. Its product Pega Infinity helps connect enterprises to their customers in real-time across channels, streamline business operations, and adapt to meet changing requirements.