Q3 2024 EPS Estimates for Pegasystems Inc. Lowered by William Blair (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGA) – Research analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for shares of Pegasystems in a research report issued on Thursday, August 29th. William Blair analyst J. Roberge now forecasts that the technology company will post earnings of $0.09 per share for the quarter, down from their previous forecast of $0.10. William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.54 per share. William Blair also issued estimates for Pegasystems’ Q4 2024 earnings at $1.08 EPS, FY2024 earnings at $1.54 EPS, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.04 EPS, Q3 2025 earnings at $0.19 EPS and FY2025 earnings at $1.70 EPS.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.30. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The business had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. During the same quarter last year, the firm earned ($0.41) EPS. Pegasystems’s revenue for the quarter was up 17.7% compared to the same quarter last year.

PEGA has been the topic of several other research reports. Barclays boosted their price target on Pegasystems from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. DA Davidson boosted their price target on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. The Goldman Sachs Group boosted their price target on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Citigroup decreased their target price on Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Rosenblatt Securities boosted their target price on Pegasystems from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.60.

Pegasystems Stock Performance

Shares of Pegasystems stock opened at $70.88 on Monday. The business’s 50 day simple moving average is $63.94 and its 200 day simple moving average is $62.30. Pegasystems has a 52-week low of $37.66 and a 52-week high of $72.74. The firm has a market cap of $6.03 billion, a PE ratio of 86.44 and a beta of 1.08.

Hedge Funds Weigh In On Pegasystems

Several large investors have recently bought and sold shares of PEGA. Quadrant Capital Group LLC raised its position in shares of Pegasystems by 80.1% during the fourth quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after acquiring an additional 226 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Pegasystems by 15,120.0% during the second quarter. Versant Capital Management Inc now owns 761 shares of the technology company’s stock worth $46,000 after acquiring an additional 756 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Pegasystems by 64.0% during the first quarter. Headlands Technologies LLC now owns 869 shares of the technology company’s stock worth $56,000 after acquiring an additional 339 shares during the last quarter. Covestor Ltd raised its position in shares of Pegasystems by 633.9% during the first quarter. Covestor Ltd now owns 1,233 shares of the technology company’s stock worth $80,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Pegasystems during the second quarter worth about $104,000. 46.89% of the stock is currently owned by institutional investors.

Insider Transactions at Pegasystems

In other news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total transaction of $53,250.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at approximately $142. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $71.00, for a total transaction of $53,250.00. Following the completion of the transaction, the chief accounting officer now owns 2 shares of the company’s stock, valued at approximately $142. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Jones sold 4,729 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $70.03, for a total value of $331,171.87. Following the completion of the transaction, the director now directly owns 367,058 shares of the company’s stock, valued at approximately $25,705,071.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,023 shares of company stock valued at $2,257,159. Corporate insiders own 50.10% of the company’s stock.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a dividend of $0.03 per share. The ex-dividend date was Monday, July 1st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.17%. Pegasystems’s payout ratio is 14.63%.

Pegasystems Company Profile

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.