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

Pegasystems Inc. (NASDAQ:PEGA - Get Free Report) announced a quarterly dividend on Wednesday, June 18th, Wall Street Journal reports. Investors of record on Tuesday, July 1st will be paid a dividend of 0.03 per share by the technology company on Tuesday, July 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, July 1st. This is a 100.0% increase from Pegasystems's previous quarterly dividend of $0.02.

Pegasystems has a dividend payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Pegasystems to earn $2.16 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 5.6%.

Pegasystems Stock Up 0.4%

Shares of Pegasystems stock traded up $0.40 during midday trading on Wednesday, hitting $101.07. The company's stock had a trading volume of 559,110 shares, compared to its average volume of 1,010,534. The stock has a 50-day simple moving average of $91.15 and a 200-day simple moving average of $89.36. The firm has a market capitalization of $8.65 billion, a P/E ratio of 49.06 and a beta of 1.11. Pegasystems has a 1-year low of $56.49 and a 1-year high of $113.67.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEGA. Wedbush reissued an "outperform" rating and issued a $125.00 price objective on shares of Pegasystems in a research report on Tuesday, June 3rd. Loop Capital restated a "buy" rating and set a $105.00 price objective (up previously from $85.00) on shares of Pegasystems in a report on Thursday, April 24th. Royal Bank Of Canada restated an "outperform" rating and set a $120.00 price target on shares of Pegasystems in a research note on Tuesday, June 3rd. KeyCorp reduced their price objective on Pegasystems from $118.00 to $94.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wall Street Zen upgraded Pegasystems from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $106.18.

Insider Activity at Pegasystems

In other Pegasystems news, insider John Gerard Higgins sold 11,830 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $102.23, for a total value of $1,209,380.90. Following the sale, the insider now directly owns 19,013 shares in the company, valued at approximately $1,943,698.99. This trade represents a 38.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rifat Kerim Akgonul sold 4,000 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $88.66, for a total transaction of $354,640.00. Following the completion of the transaction, the insider now directly owns 52,640 shares of the company's stock, valued at $4,667,062.40. This trade represents a 7.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,015 shares of company stock valued at $9,191,326 in the last three months. Corporate insiders own 50.10% of the company's stock.

Institutional Trading of Pegasystems

Large investors have recently bought and sold shares of the business. Jones Financial Companies Lllp lifted its position in shares of Pegasystems by 450.4% in the first quarter. Jones Financial Companies Lllp now owns 1,844 shares of the technology company's stock worth $128,000 after purchasing an additional 1,509 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Pegasystems by 141,900.0% in the first quarter. NewEdge Advisors LLC now owns 4,260 shares of the technology company's stock valued at $296,000 after acquiring an additional 4,257 shares during the last quarter. Focus Partners Wealth raised its holdings in Pegasystems by 55.0% during the first quarter. Focus Partners Wealth now owns 5,476 shares of the technology company's stock worth $381,000 after acquiring an additional 1,943 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Pegasystems by 18.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 155,783 shares of the technology company's stock valued at $10,830,000 after purchasing an additional 23,713 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Pegasystems by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 248,168 shares of the technology company's stock valued at $17,253,000 after purchasing an additional 13,075 shares in the last quarter. 46.89% of the stock is owned by institutional investors.

Pegasystems Company Profile

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.

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