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

Key Points

• Pegasystems declared a quarterly dividend of $0.03 per share, payable October 15 to shareholders of record on October 1. The annualized dividend is $0.12, representing a 0.3% yield, with a low payout ratio of 3.3%.
• Shares traded at $38.71, up 6.8%, with a market capitalization of approximately $6.36 billion. The stock remains below its 52-week high of $68.10.
• Pegasystems reported quarterly EPS of $0.35, missing analyst expectations of $0.43, while revenue of $420.72 million also fell short of estimates. Revenue nevertheless increased 9.4% year over year.

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) announced a quarterly dividend on Monday, September 14th. Investors of record on Thursday, October 1st will be given a dividend of 0.03 per share by the technology company on Thursday, October 15th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, October 1st.

Pegasystems has increased its dividend payment by an average of 0.1%annually over the last three years. Pegasystems has a payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pegasystems to earn $1.91 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 6.3%.

Pegasystems Trading Up 6.8%

Shares of NASDAQ PEGA opened at $38.71 on Tuesday. The company has a fifty day moving average price of $32.88 and a 200 day moving average price of $36.01. The firm has a market cap of $6.36 billion, a PE ratio of 21.87 and a beta of 0.89. Pegasystems has a 1-year low of $25.10 and a 1-year high of $68.10.

Pegasystems (NASDAQ:PEGA - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $420.72 million during the quarter, compared to analyst estimates of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 EPS. Equities research analysts forecast that Pegasystems will post 1.66 EPS for the current year.

Insider Buying and Selling

In other news, insider Kerim Akgonul sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $33.99, for a total value of $101,970.00. Following the completion of the sale, the insider owned 108,049 shares of the company's stock, valued at approximately $3,672,585.51. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 1,063 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the completion of the transaction, the chief accounting officer directly owned 1,164 shares of the company's stock, valued at $45,105. This represents a 47.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 48.40% of the stock is owned by company insiders.

Institutional Trading of Pegasystems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in shares of Pegasystems by 3.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company's stock worth $500,000 after acquiring an additional 272 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Pegasystems by 1.4% during the 1st quarter. State of Michigan Retirement System now owns 22,000 shares of the technology company's stock valued at $936,000 after purchasing an additional 300 shares during the last quarter. Diversified Trust Co lifted its holdings in Pegasystems by 3.2% during the 1st quarter. Diversified Trust Co now owns 11,364 shares of the technology company's stock valued at $484,000 after purchasing an additional 350 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Pegasystems by 2.2% during the first quarter. Oregon Public Employees Retirement Fund now owns 18,700 shares of the technology company's stock worth $796,000 after purchasing an additional 400 shares during the period. Finally, State of Wyoming boosted its position in Pegasystems by 3.4% during the first quarter. State of Wyoming now owns 12,709 shares of the technology company's stock worth $541,000 after purchasing an additional 423 shares during the period. 46.89% of the stock is owned by institutional investors.

About Pegasystems

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company's product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.

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