Pegasystems Inc. to Issue Quarterly Dividend of $0.03 (NASDAQ:PEGA)

Pegasystems Inc. (NASDAQ:PEGA) announced a quarterly dividend on Friday, June 14th, Zacks reports. Stockholders of record on Monday, July 1st will be paid a dividend of 0.03 per share by the technology company on Monday, July 15th. This represents a $0.12 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, July 1st.

Pegasystems has a payout ratio of 3.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Pegasystems to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 6.7%.

Pegasystems Stock Performance

PEGA opened at $60.53 on Friday. The firm has a market cap of $5.15 billion, a P/E ratio of 73.82 and a beta of 1.05. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $69.26. The firm has a 50-day moving average of $59.61 and a 200 day moving average of $57.28.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, April 24th. The technology company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The company had revenue of $330.15 million for the quarter, compared to the consensus estimate of $339.70 million. Pegasystems had a net margin of 5.32% and a return on equity of 45.00%. Equities research analysts predict that Pegasystems will post 1.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Director Sharon T. Rowlands acquired 8,600 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average price of $58.63 per share, with a total value of $504,218.00. Following the completion of the acquisition, the director now owns 30,871 shares of the company’s stock, valued at $1,809,966.73. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Sharon T. Rowlands acquired 8,600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $58.63 per share, with a total value of $504,218.00. Following the acquisition, the director now owns 30,871 shares of the company’s stock, valued at approximately $1,809,966.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Leon Trefler sold 752 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $64.20, for a total value of $48,278.40. Following the completion of the transaction, the insider now directly owns 39,940 shares in the company, valued at approximately $2,564,148. The disclosure for this sale can be found here. Insiders have sold a total of 16,504 shares of company stock valued at $1,010,634 in the last 90 days. Corporate insiders own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEGA. Wedbush reaffirmed an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a research report on Wednesday, June 12th. JMP Securities reiterated a “market perform” rating on shares of Pegasystems in a research note on Wednesday, June 12th. DA Davidson restated a “neutral” rating and set a $60.00 price target on shares of Pegasystems in a research note on Monday, March 4th. Citigroup lowered their target price on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $77.00 price target on shares of Pegasystems in a report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.50.

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.