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

Pegasystems Inc. (NASDAQ:PEGA) declared 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 is Monday, July 1st.

Pegasystems has a dividend payout ratio of 3.8% meaning 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

Shares of NASDAQ PEGA opened at $60.53 on Friday. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 73.82 and a beta of 1.05. The business has a 50-day moving average of $59.61 and a 200-day moving average of $57.23. Pegasystems has a fifty-two week low of $37.66 and a fifty-two week high of $69.26.

Pegasystems (NASDAQ:PEGA) last announced its quarterly earnings data 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 company had revenue of $330.15 million during the quarter, compared to the consensus estimate of $339.70 million. On average, sell-side analysts expect that Pegasystems will post 1.5 EPS for the current year.

Insiders Place Their Bets

In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred 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 sale, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Leon Trefler sold 752 shares of Pegasystems stock in a transaction that occurred 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 sale, the insider now directly owns 39,940 shares in the company, valued at $2,564,148. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kenneth Stillwell sold 2,000 shares of Pegasystems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $63.70, for a total transaction of $127,400.00. Following the completion of the sale, the chief financial officer now owns 24,884 shares of the company’s stock, valued at $1,585,110.80. The disclosure for this sale can be found here. Insiders sold 16,504 shares of company stock worth $1,010,634 over the last three months. Insiders own 50.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reduced their price target on Pegasystems from $87.00 to $82.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $77.00 price target on shares of Pegasystems in a report on Tuesday, June 11th. JMP Securities reiterated a “market perform” rating on shares of Pegasystems in a report on Wednesday, June 12th. Rosenblatt Securities reiterated a “buy” rating and set a $75.00 price target on shares of Pegasystems in a report on Tuesday, April 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $90.00 price target on shares of Pegasystems in a report on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.50.

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.