Pegasystems Inc. (PEGA) to Issue Quarterly Dividend of $0.03 on October 15th

Pegasystems Inc. (NASDAQ:PEGA) declared a quarterly dividend on Friday, September 13th, Zacks reports. Investors of record on Tuesday, October 1st will be paid a dividend of 0.03 per share by the technology company on Tuesday, October 15th. This represents a $0.12 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, October 1st.

Pegasystems has a dividend payout ratio of 3.9% indicating that its dividend is sufficiently covered by earnings. Research 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

Shares of NASDAQ PEGA traded down $0.67 during trading on Friday, reaching $72.21. The company had a trading volume of 375,441 shares, compared to its average volume of 638,850. Pegasystems has a 52 week low of $37.66 and a 52 week high of $74.40. The business’s 50 day moving average price is $67.72 and its 200-day moving average price is $62.94. The stock has a market cap of $6.17 billion, a PE ratio of 88.06 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last released its earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. The company had revenue of $351.20 million during the quarter, compared to the consensus estimate of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) earnings per share. Equities analysts anticipate that Pegasystems will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PEGA. Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Pegasystems in a research report on Monday, July 29th. DA Davidson upped their target price on shares of Pegasystems from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Rosenblatt Securities lifted their price target on shares of Pegasystems from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup upped their price objective on shares of Pegasystems from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

Insiders Place Their Bets

In other Pegasystems news, Director Richard H. Jones sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $69.88, for a total value of $698,800.00. Following the completion of the sale, the director now owns 357,058 shares in the company, valued at $24,951,213.04. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard H. Jones sold 10,000 shares of Pegasystems stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $69.88, for a total transaction of $698,800.00. Following the completion of the transaction, the director now directly owns 357,058 shares in the company, valued at approximately $24,951,213.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the transaction, the chief accounting officer now owns 752 shares of the company’s stock, valued at $54,211.68. The disclosure for this sale can be found here. Insiders have sold 46,955 shares of company stock valued at $3,243,771 in the last 90 days. 50.10% of the stock is currently owned by insiders.

About Pegasystems

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.