Pegasystems (PEGA) Posts Earnings Results, Misses Estimates By $0.24 EPS

Pegasystems (NASDAQ:PEGA) posted its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.24), Morningstar.com reports. The business had revenue of $212.50 million during the quarter, compared to analyst estimates of $237.63 million. Pegasystems had a negative net margin of 3.49% and a negative return on equity of 4.85%. The company’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share.

PEGA stock traded down $1.16 on Friday, hitting $72.14. 149,055 shares of the company were exchanged, compared to its average volume of 366,539. Pegasystems has a twelve month low of $43.21 and a twelve month high of $76.49. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.08.

In other Pegasystems news, CFO Kenneth Stillwell sold 1,863 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $64.93, for a total transaction of $120,964.59. Following the transaction, the chief financial officer now directly owns 12,009 shares in the company, valued at approximately $779,744.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard H. Jones sold 25,000 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $64.89, for a total transaction of $1,622,250.00. Following the transaction, the director now owns 297,537 shares in the company, valued at $19,307,175.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,140 shares of company stock valued at $3,506,740. 52.85% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the business. Vanguard Group Inc raised its holdings in shares of Pegasystems by 2.7% during the third quarter. Vanguard Group Inc now owns 3,401,811 shares of the technology company’s stock worth $212,953,000 after purchasing an additional 90,839 shares during the period. Vanguard Group Inc. increased its holdings in shares of Pegasystems by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,401,811 shares of the technology company’s stock worth $212,953,000 after acquiring an additional 90,839 shares during the period. Luxor Capital Group LP increased its holdings in shares of Pegasystems by 48.0% in the 1st quarter. Luxor Capital Group LP now owns 2,863,532 shares of the technology company’s stock worth $186,130,000 after acquiring an additional 929,282 shares during the period. Cadian Capital Management LP increased its holdings in shares of Pegasystems by 37.2% in the 1st quarter. Cadian Capital Management LP now owns 2,171,209 shares of the technology company’s stock worth $141,129,000 after acquiring an additional 588,389 shares during the period. Finally, SQN Investors LP increased its holdings in shares of Pegasystems by 27.8% in the 4th quarter. SQN Investors LP now owns 2,117,903 shares of the technology company’s stock worth $101,299,000 after acquiring an additional 460,938 shares during the period. 46.29% of the stock is currently owned by institutional investors.

PEGA has been the topic of a number of research analyst reports. TheStreet downgraded shares of Pegasystems from a “b-” rating to a “c” rating in a report on Wednesday, May 22nd. Zacks Investment Research downgraded shares of Pegasystems from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. BidaskClub downgraded shares of Pegasystems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 1st. Benchmark reaffirmed a “buy” rating and issued a $80.00 price target (up previously from $72.00) on shares of Pegasystems in a report on Wednesday, May 8th. Finally, UBS Group upped their price target on shares of Pegasystems to $78.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $79.20.

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About Pegasystems

Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.

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Earnings History for Pegasystems (NASDAQ:PEGA)

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