FY2024 Earnings Forecast for Pegasystems Issued By KeyCorp

Pegasystems Inc. (NASDAQ:PEGA) – Research analysts at KeyCorp issued their FY2024 earnings per share (EPS) estimates for Pegasystems in a note issued to investors on Monday, January 13th. KeyCorp analyst D. Au expects that the technology company will post earnings per share of $1.75 for the year. KeyCorp currently has a “Strong-Buy” rating on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.61 per share. KeyCorp also issued estimates for Pegasystems’ Q4 2024 earnings at $1.30 EPS, Q4 2025 earnings at $1.41 EPS, FY2025 earnings at $1.92 EPS and FY2026 earnings at $2.26 EPS.

A number of other analysts also recently weighed in on the company. Wedbush increased their price target on Pegasystems from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays lifted their target price on Pegasystems from $74.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Citigroup increased their price target on Pegasystems from $99.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on shares of Pegasystems from $90.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Rosenblatt Securities increased their target price on shares of Pegasystems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.91.

Pegasystems Stock Up 2.5 %

Shares of NASDAQ PEGA opened at $102.49 on Thursday. The company has a market capitalization of $8.79 billion, a PE ratio of 74.81 and a beta of 1.09. Pegasystems has a twelve month low of $45.36 and a twelve month high of $104.59. The firm has a fifty day simple moving average of $93.30 and a 200 day simple moving average of $77.28.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.04. Pegasystems had a net margin of 8.29% and a return on equity of 37.83%. The firm had revenue of $325.10 million during the quarter, compared to analyst estimates of $326.16 million. During the same quarter last year, the business earned $0.14 EPS. The company’s revenue was down 2.8% compared to the same quarter last year.

Institutional Trading of Pegasystems

Several institutional investors have recently made changes to their positions in PEGA. Rhumbline Advisers grew its position in Pegasystems by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 52,022 shares of the technology company’s stock worth $3,149,000 after purchasing an additional 1,087 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Pegasystems by 266.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 390,580 shares of the technology company’s stock worth $23,641,000 after buying an additional 284,095 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pegasystems by 4.5% in the second quarter. Renaissance Technologies LLC now owns 107,824 shares of the technology company’s stock valued at $6,527,000 after acquiring an additional 4,600 shares in the last quarter. Edgestream Partners L.P. increased its position in shares of Pegasystems by 254.1% during the second quarter. Edgestream Partners L.P. now owns 63,607 shares of the technology company’s stock valued at $3,850,000 after acquiring an additional 45,646 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Pegasystems by 28.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,760 shares of the technology company’s stock valued at $349,000 after acquiring an additional 1,273 shares during the last quarter. Institutional investors own 46.89% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kenneth Stillwell sold 6,200 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $94.67, for a total transaction of $586,954.00. Following the completion of the sale, the chief financial officer now owns 18,466 shares in the company, valued at approximately $1,748,176.22. This represents a 25.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Leon Trefler sold 752 shares of the firm’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $93.83, for a total value of $70,560.16. Following the transaction, the insider now owns 37,973 shares in the company, valued at approximately $3,563,006.59. This trade represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,914 shares of company stock worth $2,414,935 in the last quarter. Insiders own 50.10% of the company’s stock.

Pegasystems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Thursday, January 2nd. Pegasystems’s payout ratio is presently 8.76%.

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.