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

Pegasystems Inc. (NASDAQ:PEGA) announced 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 0.9 %

NASDAQ PEGA opened at $72.21 on Monday. Pegasystems has a 52 week low of $37.66 and a 52 week high of $74.40. The firm has a 50 day moving average of $67.72 and a two-hundred day moving average of $62.93. The stock has a market capitalization of $6.14 billion, a PE ratio of 88.06 and a beta of 1.07.

Pegasystems (NASDAQ:PEGA) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.22 by $0.30. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $323.55 million. Pegasystems had a return on equity of 49.62% and a net margin of 8.72%. Pegasystems’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.41) earnings per share. On average, equities research analysts expect that Pegasystems will post 1.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Pegasystems news, insider Leon Trefler sold 752 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $72.09, for a total value of $54,211.68. Following the completion of the transaction, the insider now owns 38,412 shares in the company, valued at $2,769,121.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Pegasystems news, insider Leon Trefler sold 752 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $72.09, for a total value of $54,211.68. Following the completion of the transaction, the insider now directly owns 38,412 shares of the company’s stock, valued at $2,769,121.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $70,000.00. Following the sale, the insider now directly owns 50,505 shares in the company, valued at approximately $3,535,350. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,203 shares of company stock worth $3,078,933. Company insiders own 50.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PEGA. The Goldman Sachs Group boosted their price objective on shares of Pegasystems from $70.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Barclays boosted their price objective on Pegasystems from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. Rosenblatt Securities raised their target price 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. JPMorgan Chase & Co. upped their price target on shares of Pegasystems from $78.00 to $83.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Loop Capital upgraded shares of Pegasystems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $84.00 in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pegasystems currently has a consensus rating of “Moderate Buy” and an average target price of $83.60.

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.