Q4 2017 Earnings Estimate for Pegasystems Inc. Issued By Wedbush (PEGA)
Pegasystems Inc. (NASDAQ:PEGA) – Equities research analysts at Wedbush reduced their Q4 2017 earnings per share (EPS) estimates for Pegasystems in a research note issued to investors on Tuesday. Wedbush analyst S. Koenig now anticipates that the technology company will earn $0.11 per share for the quarter, down from their previous forecast of $0.18. Wedbush also issued estimates for Pegasystems’ FY2018 earnings at $0.74 EPS.
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 analysts’ consensus estimates of $0.08 by ($0.04). Pegasystems had a net margin of 6.17% and a return on equity of 13.06%. The firm had revenue of $197.98 million during the quarter, compared to analyst estimates of $205.06 million. During the same quarter in the previous year, the business posted $0.19 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Q4 2017 Earnings Estimate for Pegasystems Inc. Issued By Wedbush (PEGA)” was originally published by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/26/q4-2017-earnings-estimate-for-pegasystems-inc-issued-by-wedbush-pega.html.
A number of other equities research analysts have also recently issued reports on PEGA. BidaskClub cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Mitsubishi UFJ Financial Group set a $57.00 target price on shares of Pegasystems and gave the company a “buy” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $63.00.
Shares of Pegasystems (NASDAQ:PEGA) traded down 0.09% during mid-day trading on Thursday, reaching $57.65. 50,799 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $58.16 and its 200-day moving average is $56.27. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 92.24 and a beta of 1.48. Pegasystems has a 52-week low of $29.10 and a 52-week high of $64.85.
Hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in shares of Pegasystems in the second quarter worth about $105,000. Sei Investments Co. lifted its holdings in shares of Pegasystems by 4,892.9% in the second quarter. Sei Investments Co. now owns 2,097 shares of the technology company’s stock worth $122,000 after acquiring an additional 2,055 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Pegasystems by 666.5% in the second quarter. Citigroup Inc. now owns 4,116 shares of the technology company’s stock worth $240,000 after acquiring an additional 3,579 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Pegasystems in the second quarter worth about $274,000. Finally, Amalgamated Bank bought a new position in shares of Pegasystems in the second quarter worth about $274,000. 44.46% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Richard H. Jones sold 11,200 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.97, for a total transaction of $671,664.00. Following the completion of the sale, the director now owns 529,292 shares of the company’s stock, valued at $31,741,641.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth Stillwell sold 4,283 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $60.48, for a total transaction of $259,035.84. Following the sale, the chief financial officer now directly owns 8,746 shares of the company’s stock, valued at approximately $528,958.08. The disclosure for this sale can be found here. Insiders have sold 31,432 shares of company stock valued at $1,834,674 in the last ninety days. 53.61% of the stock is currently owned by company insiders.
The company also recently disclosed a dividend, which was paid on Friday, October 6th. Investors of record on Monday, October 2nd were given a dividend of $0.03 per share. The ex-dividend date was Friday, September 29th. Pegasystems’s dividend payout ratio is 19.67%.
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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