Pegasystems Inc. (PEGA) to Issue $0.03 Quarterly Dividend
Pegasystems Inc. (NASDAQ:PEGA) declared a quarterly dividend on Monday, September 18th, Wall Street Journal reports. Stockholders of record on Monday, October 2nd will be paid a dividend of 0.03 per share by the technology company on Monday, October 16th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Friday, September 29th.
Shares of Pegasystems (PEGA) traded up 2.57% on Monday, hitting $57.95. The stock had a trading volume of 437,272 shares. Pegasystems has a 52 week low of $27.20 and a 52 week high of $64.85. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 92.72 and a beta of 1.50. The firm has a 50 day moving average price of $56.62 and a 200-day moving average price of $53.09.
Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.04). The business had revenue of $197.98 million during the quarter, compared to analyst estimates of $205.06 million. Pegasystems had a return on equity of 13.06% and a net margin of 6.17%. Pegasystems’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. Analysts anticipate that Pegasystems will post $0.97 EPS for the current year.
In related news, VP Efstathios A. Kouninis sold 448 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $56.51, for a total value of $25,316.48. Following the completion of the sale, the vice president now owns 585 shares in the company, valued at $33,058.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Jones sold 14,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $57.90, for a total value of $810,600.00. Following the completion of the sale, the director now owns 537,292 shares of the company’s stock, valued at approximately $31,109,206.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,374 shares of company stock valued at $2,645,288. 53.61% of the stock is currently owned by corporate insiders.
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A number of research firms have recently weighed in on PEGA. Benchmark Co. restated a “buy” rating and set a $67.00 target price (up previously from $60.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Zacks Investment Research upgraded Pegasystems from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Wednesday, July 19th. Mitsubishi UFJ Financial Group set a $57.00 target price on Pegasystems and gave the stock a “buy” rating in a research report on Thursday, August 10th. Wedbush restated an “outperform” rating and set a $60.00 target price (down previously from $67.00) on shares of Pegasystems in a research report on Tuesday, June 6th. Finally, BidaskClub upgraded Pegasystems from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 16th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $63.00.
Pegasystems Inc develops, markets, licenses and supports software applications for marketing, sales and onboarding, and customer service needs. The Company also offers software applications built on the Pega platform. Its software is designed to assist clients in building, deploying and evolving enterprise applications.
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