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

Pegasystems Inc. (NASDAQ:PEGA) announced a quarterly dividend on Monday, June 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of 0.03 per share by the technology company on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Wednesday, July 1st.

Pegasystems has raised its dividend payment by an average of 0.1%per year over the last three years. Pegasystems has a payout ratio of 3.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pegasystems to earn $2.30 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 5.2%.

Pegasystems Trading Down 0.1%

Shares of PEGA opened at $32.72 on Tuesday. The company has a market cap of $5.47 billion, a P/E ratio of 17.59 and a beta of 0.86. Pegasystems has a twelve month low of $31.46 and a twelve month high of $68.10. The company’s fifty day simple moving average is $36.71 and its 200-day simple moving average is $45.41.

Pegasystems (NASDAQ:PEGA) last posted its quarterly earnings results on Tuesday, April 21st. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.22). The company had revenue of $429.97 million during the quarter, compared to analysts’ expectations of $473.24 million. Pegasystems had a return on equity of 30.05% and a net margin of 20.04%.The company’s quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. Analysts predict that Pegasystems will post 1.93 earnings per share for the current fiscal year.

Insider Transactions at Pegasystems

In other Pegasystems news, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $33.35, for a total transaction of $151,575.75. Following the sale, the insider directly owned 107,070 shares in the company, valued at $3,570,784.50. This represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $34.75, for a total transaction of $26,062.50. Following the sale, the chief accounting officer owned 2,894 shares in the company, valued at $100,566.50. This trade represents a 20.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 6,045 shares of company stock worth $205,381 in the last ninety days. 48.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Pegasystems

A number of large investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Pegasystems by 41.8% in the first quarter. Parallel Advisors LLC now owns 5,228 shares of the technology company’s stock valued at $223,000 after purchasing an additional 1,540 shares in the last quarter. Bank of America Corp DE boosted its holdings in Pegasystems by 55.6% in the first quarter. Bank of America Corp DE now owns 628,100 shares of the technology company’s stock valued at $26,732,000 after purchasing an additional 224,506 shares in the last quarter. Bull Harbor Capital LLC acquired a new position in Pegasystems in the first quarter valued at approximately $254,000. Amundi boosted its holdings in Pegasystems by 18.5% in the first quarter. Amundi now owns 47,259 shares of the technology company’s stock valued at $2,011,000 after purchasing an additional 7,378 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Pegasystems by 23.8% in the first quarter. California State Teachers Retirement System now owns 108,743 shares of the technology company’s stock valued at $4,628,000 after purchasing an additional 20,874 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

About Pegasystems

Pegasystems Inc is a software company specializing in customer engagement and digital process automation solutions. Headquartered in Cambridge, Massachusetts, Pegasystems develops enterprise applications designed to help organizations streamline operations, manage customer interactions and automate complex workflows. Its platform supports a wide range of use cases, from sales and marketing optimization to case management and robotic process automation.

The core of Pegasystems’ offering is the Pega Platform, a low-code development environment that enables businesses to build and deploy applications with minimal hand-coding.