Brokers Set Expectations for Pegasystems Inc.’s Q3 2024 Earnings (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGA) – Equities researchers at Wedbush decreased their Q3 2024 EPS estimates for Pegasystems in a research report issued to clients and investors on Thursday, September 26th. Wedbush analyst D. Ives now expects that the technology company will earn $0.09 per share for the quarter, down from their previous estimate of $0.16. Wedbush has a “Outperform” rating and a $90.00 price target on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.54 per share. Wedbush also issued estimates for Pegasystems’ Q4 2024 earnings at $1.17 EPS, FY2024 earnings at $1.64 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $1.45 EPS and FY2025 earnings at $2.03 EPS.

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

Several other research analysts have also recently weighed in on the company. DA Davidson increased their price objective on Pegasystems from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada raised their price target on shares of Pegasystems from $77.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $68.00 to $84.00 in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Finally, Citigroup lifted their price target on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

Pegasystems Price Performance

Shares of PEGA opened at $70.39 on Monday. The firm has a market capitalization of $5.99 billion, a PE ratio of 85.84 and a beta of 1.07. The company’s 50-day moving average is $68.13 and its 200-day moving average is $63.07. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $74.40.

Pegasystems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, October 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%.

Insider Buying and Selling

In other news, CAO Efstathios A. Kouninis sold 750 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total transaction of $54,067.50. Following the sale, the chief accounting officer now directly owns 752 shares in the company, valued at $54,211.68. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at approximately $54,211.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Leon Trefler sold 752 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $72.00, for a total transaction of $54,144.00. Following the completion of the transaction, the insider now owns 38,388 shares of the company’s stock, valued at $2,763,936. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,955 shares of company stock valued at $3,133,077. Corporate insiders own 50.10% of the company’s stock.

Institutional Investors Weigh In On Pegasystems

A number of large investors have recently made changes to their positions in the business. Optimist Retirement Group LLC lifted its holdings in Pegasystems by 5.0% in the second quarter. Optimist Retirement Group LLC now owns 3,434 shares of the technology company’s stock worth $208,000 after buying an additional 165 shares during the period. Headlands Technologies LLC lifted its stake in shares of Pegasystems by 29.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,129 shares of the technology company’s stock valued at $68,000 after purchasing an additional 260 shares during the period. Arizona State Retirement System boosted its position in shares of Pegasystems by 2.3% during the second quarter. Arizona State Retirement System now owns 11,744 shares of the technology company’s stock valued at $711,000 after purchasing an additional 262 shares in the last quarter. Duality Advisers LP grew its stake in Pegasystems by 2.7% in the first quarter. Duality Advisers LP now owns 13,690 shares of the technology company’s stock worth $885,000 after purchasing an additional 363 shares during the period. Finally, Swiss National Bank lifted its position in Pegasystems by 0.5% during the first quarter. Swiss National Bank now owns 82,500 shares of the technology company’s stock valued at $5,333,000 after buying an additional 400 shares during the period. 46.89% of the stock is currently owned by institutional investors.

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.