Pegasystems Inc. (NASDAQ:PEGA) Declares $0.03 Quarterly Dividend
Pegasystems Inc. (NASDAQ:PEGA) announced a quarterly dividend on Monday, September 16th, 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 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Monday, September 30th.
Pegasystems has a dividend payout ratio of 92.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Pegasystems to earn ($0.31) per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of -38.7%.
PEGA stock traded up $0.05 during mid-day trading on Wednesday, reaching $71.92. 940 shares of the stock traded hands, compared to its average volume of 221,988. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Pegasystems has a 52 week low of $43.21 and a 52 week high of $79.67. The business has a 50-day moving average of $71.05 and a two-hundred day moving average of $70.85.
In other news, CAO Efstathios A. Kouninis sold 564 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $72.43, for a total transaction of $40,850.52. Following the completion of the sale, the chief accounting officer now owns 1,612 shares of the company’s stock, valued at $116,757.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Michael R. Pyle sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $72.09, for a total transaction of $216,270.00. The disclosure for this sale can be found here. Insiders sold 28,448 shares of company stock valued at $2,062,287 in the last three months. Company insiders own 52.37% of the company’s stock.
A number of research analysts have recently commented on the stock. BidaskClub lowered shares of Pegasystems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Zacks Investment Research raised shares of Pegasystems from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Wedbush increased their price target on shares of Pegasystems from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, TheStreet lowered shares of Pegasystems from a “b-” rating to a “c” rating in a research report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $80.20.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. It provides Pega Platform, an application development product for clients; and Pega Infinity, a software platform that unifies customer engagement and digital process automation.
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