Pegasystems Inc. (PEGA) reported a first-quarter loss of $28.70M, after reporting a profit in the same period a year earlier. The Cambridge, Massachusetts-based company said it had a loss of 37 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 12 cents per share. The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.