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

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

Pegasystems has a 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 Price Performance

PEGA opened at $72.21 on Monday. The firm has a market capitalization of $6.14 billion, a PE ratio of 88.06 and a beta of 1.07. The business’s 50-day moving average is $67.72 and its two-hundred day moving average is $62.93. Pegasystems has a 1 year low of $37.66 and a 1 year high of $74.40.

Pegasystems (NASDAQ:PEGA) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.30. The business had revenue of $351.20 million for 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 business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.41) earnings per share. As a group, sell-side analysts expect that Pegasystems will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

PEGA has been the subject of several research reports. William Blair upgraded shares of Pegasystems from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 30th. Rosenblatt Securities increased their price objective on Pegasystems from $75.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Loop Capital raised Pegasystems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $68.00 to $84.00 in a report on Thursday, August 1st. Citigroup increased their price target on shares of Pegasystems from $87.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Barclays upped their price objective on shares of Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Pegasystems presently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

Insider Activity at Pegasystems

In related news, insider Rifat Kerim Akgonul sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the completion of the sale, the insider now directly owns 50,505 shares in the company, valued at $3,535,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Pegasystems news, CAO Efstathios A. Kouninis sold 750 shares of Pegasystems stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,067.50. Following the completion of the transaction, the chief accounting officer now directly owns 752 shares of the company’s stock, valued at approximately $54,211.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rifat Kerim Akgonul sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $70,000.00. Following the sale, the insider now directly owns 50,505 shares in the company, valued at $3,535,350. The disclosure for this sale can be found here. Insiders sold a total of 44,203 shares of company stock worth $3,078,933 in the last 90 days. Corporate insiders own 50.10% of the company’s stock.

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.