Q3 2017 EPS Estimates for Pegasystems Inc. Cut by Wedbush (PEGA)
Pegasystems Inc. (NASDAQ:PEGA) – Wedbush dropped their Q3 2017 earnings estimates for shares of Pegasystems in a report released on Tuesday. Wedbush analyst S. Koenig now anticipates that the technology company will post earnings of $0.06 per share for the quarter, down from their previous estimate of $0.08. Wedbush also issued estimates for Pegasystems’ FY2017 earnings at $0.50 EPS, Q2 2018 earnings at $0.15 EPS, Q3 2018 earnings at $0.13 EPS and Q4 2018 earnings at $0.21 EPS.
Several other research analysts also recently commented on PEGA. BidaskClub upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 16th. Zacks Investment Research upgraded Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Wednesday, July 19th. Finally, Mitsubishi UFJ Financial Group set a $57.00 price objective on Pegasystems and gave the stock a “buy” rating in a report on Thursday, August 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Pegasystems presently has an average rating of “Buy” and an average target price of $63.00.
Shares of Pegasystems (PEGA) opened at 58.75 on Wednesday. The stock has a market capitalization of $4.56 billion, a PE ratio of 94.00 and a beta of 1.48. Pegasystems has a 52 week low of $29.10 and a 52 week high of $64.85. The company has a 50-day moving average price of $58.16 and a 200 day moving average price of $56.26.
Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, August 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.04). The business had revenue of $197.98 million for the quarter, compared to analysts’ expectations of $205.06 million. Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. Pegasystems’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share.
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its position in shares of Pegasystems by 1.3% in the 2nd quarter. Bank of Montreal Can now owns 4,785 shares of the technology company’s stock worth $280,000 after purchasing an additional 62 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Pegasystems by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 14,206 shares of the technology company’s stock worth $830,000 after purchasing an additional 155 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Pegasystems by 2.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,432 shares of the technology company’s stock worth $1,717,000 after purchasing an additional 587 shares in the last quarter. ING Groep NV boosted its position in shares of Pegasystems by 3.3% in the 2nd quarter. ING Groep NV now owns 25,914 shares of the technology company’s stock worth $1,512,000 after purchasing an additional 839 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Pegasystems by 6.2% in the 2nd quarter. Voya Investment Management LLC now owns 17,380 shares of the technology company’s stock worth $1,014,000 after purchasing an additional 1,010 shares in the last quarter. 44.46% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Richard H. Jones sold 11,200 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.97, for a total value of $671,664.00. Following the completion of the sale, the director now owns 529,292 shares of the company’s stock, valued at approximately $31,741,641.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas I. Kra sold 1,194 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $60.20, for a total value of $71,878.80. Following the completion of the sale, the senior vice president now directly owns 24,817 shares of the company’s stock, valued at approximately $1,493,983.40. The disclosure for this sale can be found here. Insiders sold a total of 31,432 shares of company stock worth $1,834,674 over the last quarter. Company insiders own 53.61% of the company’s stock.
The business also recently declared a dividend, which was paid on Friday, October 6th. Stockholders of record on Monday, October 2nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 29th. Pegasystems’s dividend payout ratio is presently 19.67%.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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