Q1 2024 EPS Estimates for Pegasystems Inc. Reduced by DA Davidson (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGAFree Report) – Equities researchers at DA Davidson decreased their Q1 2024 earnings per share estimates for shares of Pegasystems in a research note issued to investors on Tuesday, March 5th. DA Davidson analyst G. Luria now forecasts that the technology company will post earnings per share of $0.30 for the quarter, down from their prior estimate of $0.42. DA Davidson currently has a “Neutral” rating and a $60.00 price objective on the stock. The consensus estimate for Pegasystems’ current full-year earnings is $1.49 per share.

A number of other equities research analysts also recently weighed in on PEGA. Barclays raised Pegasystems from an “underweight” rating to an “equal weight” rating and set a $52.00 target price on the stock in a report on Friday, January 12th. StockNews.com raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 13th. The Goldman Sachs Group raised their price objective on Pegasystems from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, February 16th. TheStreet raised Pegasystems from a “d+” rating to a “c” rating in a report on Thursday, February 15th. Finally, Wedbush reissued an “outperform” rating and set a $58.00 price objective on shares of Pegasystems in a report on Thursday, February 15th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.11.

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Pegasystems Trading Down 5.0 %

Shares of PEGA stock opened at $62.10 on Wednesday. The stock’s fifty day moving average price is $52.83 and its two-hundred day moving average price is $48.76. The company has a market cap of $5.21 billion, a PE ratio of 87.47 and a beta of 1.06. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.78 and a current ratio of 1.78.

Pegasystems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Friday, December 29th. Pegasystems’s dividend payout ratio is currently 16.90%.

Insider Buying and Selling

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $52.03, for a total transaction of $52,030.00. Following the completion of the transaction, the insider now directly owns 52,967 shares of the company’s stock, valued at approximately $2,755,873.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $52.03, for a total transaction of $52,030.00. Following the completion of the transaction, the insider now directly owns 52,967 shares of the company’s stock, valued at approximately $2,755,873.01. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth Stillwell sold 20,606 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $63.17, for a total value of $1,301,681.02. Following the transaction, the chief financial officer now directly owns 24,535 shares of the company’s stock, valued at $1,549,875.95. The disclosure for this sale can be found here. Insiders sold a total of 42,040 shares of company stock valued at $2,658,021 in the last three months. Insiders own 50.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of Pegasystems by 80.1% in the 4th quarter. Quadrant Capital Group LLC now owns 508 shares of the technology company’s stock worth $25,000 after acquiring an additional 226 shares in the last quarter. Arizona State Retirement System raised its position in shares of Pegasystems by 2.0% in the 3rd quarter. Arizona State Retirement System now owns 11,810 shares of the technology company’s stock worth $513,000 after acquiring an additional 228 shares in the last quarter. Quent Capital LLC raised its position in shares of Pegasystems by 1.8% in the 4th quarter. Quent Capital LLC now owns 12,846 shares of the technology company’s stock worth $628,000 after acquiring an additional 228 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Pegasystems by 4.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 5,490 shares of the technology company’s stock worth $268,000 after acquiring an additional 247 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of Pegasystems by 1.4% in the 2nd quarter. Treasurer of the State of North Carolina now owns 18,319 shares of the technology company’s stock worth $903,000 after acquiring an additional 250 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

About Pegasystems

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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.

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