Pegasystems Inc. (NASDAQ:PEGA) Announces $0.03 Quarterly Dividend

Pegasystems Inc. (NASDAQ:PEGA) announced a quarterly dividend on Friday, June 14th, Zacks reports. Shareholders 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 yield of 0.20%. The ex-dividend date is Monday, July 1st.

Pegasystems has a dividend payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 1.4 %

Shares of Pegasystems stock opened at $60.53 on Friday. Pegasystems has a twelve month low of $37.66 and a twelve month high of $69.26. The business has a 50-day moving average price of $59.61 and a 200-day moving average price of $57.28. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 73.82 and a beta of 1.05.

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

Analyst Ratings Changes

PEGA has been the topic of several research reports. DA Davidson restated a “neutral” rating and issued a $60.00 price target on shares of Pegasystems in a research report on Monday, March 4th. Rosenblatt Securities restated a “buy” rating and issued a $75.00 target price on shares of Pegasystems in a report on Tuesday, April 23rd. Citigroup lowered their price target on shares of Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday. JMP Securities reissued a “market perform” rating on shares of Pegasystems in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $77.00 price objective on shares of Pegasystems in a research report on Tuesday, June 11th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

Insider Buying and Selling at Pegasystems

In other Pegasystems news, Director Sharon T. Rowlands purchased 8,600 shares of Pegasystems stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $58.63 per share, for a total transaction of $504,218.00. Following the completion of the acquisition, the director now owns 30,871 shares in the company, valued at approximately $1,809,966.73. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Pegasystems news, CFO Kenneth Stillwell sold 2,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $63.70, for a total value of $127,400.00. Following the transaction, the chief financial officer now directly owns 24,884 shares in the company, valued at approximately $1,585,110.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sharon T. Rowlands bought 8,600 shares of Pegasystems stock in a transaction dated Tuesday, June 11th. The shares were bought at an average cost of $58.63 per share, for a total transaction of $504,218.00. Following the completion of the transaction, the director now owns 30,871 shares of the company’s stock, valued at approximately $1,809,966.73. The disclosure for this purchase can be found here. Insiders sold 16,504 shares of company stock worth $1,010,634 over the last 90 days. Company insiders own 50.10% of the company’s stock.

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.