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

Pegasystems Inc. (NASDAQ:PEGAGet Rating) declared a quarterly dividend on Thursday, June 16th, Zacks reports. Investors of record on Friday, July 1st will be paid a dividend of 0.03 per share by the technology company on Friday, July 15th. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date is Thursday, June 30th.

Pegasystems has a payout ratio of 8.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pegasystems to earn $0.43 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 27.9%.

Shares of NASDAQ:PEGA opened at $46.53 on Friday. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -64.63 and a beta of 1.14. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a 50 day simple moving average of $59.48 and a 200 day simple moving average of $81.99. Pegasystems has a one year low of $36.50 and a one year high of $143.66.

Pegasystems (NASDAQ:PEGAGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The technology company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.52. Pegasystems had a negative net margin of 4.46% and a negative return on equity of 10.05%. The firm had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $363.95 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s revenue was up 20.0% on a year-over-year basis. As a group, analysts expect that Pegasystems will post -0.08 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its stake in shares of Pegasystems by 260.2% in the fourth quarter. Advisors Asset Management Inc. now owns 1,214 shares of the technology company’s stock valued at $136,000 after buying an additional 877 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Pegasystems by 109.8% in the first quarter. Captrust Financial Advisors now owns 1,326 shares of the technology company’s stock valued at $107,000 after buying an additional 694 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Pegasystems during the third quarter valued at about $213,000. MML Investors Services LLC lifted its position in shares of Pegasystems by 16.4% during the fourth quarter. MML Investors Services LLC now owns 2,175 shares of the technology company’s stock valued at $243,000 after purchasing an additional 307 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Pegasystems during the first quarter valued at about $205,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on PEGA shares. StockNews.com cut shares of Pegasystems from a “buy” rating to a “hold” rating in a research report on Sunday, May 8th. Royal Bank of Canada decreased their price objective on shares of Pegasystems from $125.00 to $105.00 in a research report on Friday, June 3rd. Loop Capital decreased their price objective on shares of Pegasystems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Friday. Truist Financial cut shares of Pegasystems from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $110.00 to $60.00 in a research report on Wednesday, May 11th. Finally, Barclays reduced their price target on shares of Pegasystems from $110.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, April 19th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $94.44.

Pegasystems Company Profile (Get Rating)

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software applications in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. 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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Dividend History for Pegasystems (NASDAQ:PEGA)

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