Pegasystems Inc. (PEGA) To Go Ex-Dividend on August 17th

Pegasystems Inc. (NASDAQ:PEGA) announced a special dividend on Thursday, February 5th. Shareholders of record on Monday, August 17th will be paid a dividend of 0.083 per share by the technology company on Wednesday, September 16th. The ex-dividend date is Monday, August 17th.

Pegasystems has raised its dividend by an average of 0.1%per year over the last three years. Pegasystems has a dividend payout ratio of 3.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pegasystems to earn $1.97 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 6.1%.

Pegasystems Stock Down 3.5%

Shares of NASDAQ PEGA opened at $32.32 on Friday. The stock has a market cap of $5.31 billion, a P/E ratio of 18.26 and a beta of 0.87. The firm’s 50-day simple moving average is $31.13 and its 200 day simple moving average is $37.23. Pegasystems has a fifty-two week low of $25.10 and a fifty-two week high of $68.10.

Pegasystems (NASDAQ:PEGA) last announced its earnings results on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $420.72 million during the quarter, compared to the consensus estimate of $427.38 million. Pegasystems had a net margin of 18.66% and a return on equity of 32.21%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. On average, sell-side analysts anticipate that Pegasystems will post 1.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Efstathios A. Kouninis sold 750 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $34.75, for a total value of $26,062.50. Following the sale, the chief accounting officer directly owned 2,894 shares in the company, valued at $100,566.50. The trade was a 20.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rifat Kerim Akgonul sold 4,545 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $33.35, for a total transaction of $151,575.75. Following the completion of the sale, the insider owned 107,070 shares in the company, valued at $3,570,784.50. The trade was a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 6,795 shares of company stock valued at $229,613. Insiders own 48.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in shares of Pegasystems by 1.4% in the 3rd quarter. NewEdge Advisors LLC now owns 13,652 shares of the technology company’s stock worth $785,000 after acquiring an additional 189 shares during the last quarter. Amundi lifted its holdings in shares of Pegasystems by 0.6% during the fourth quarter. Amundi now owns 39,881 shares of the technology company’s stock valued at $2,382,000 after purchasing an additional 249 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Pegasystems by 3.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,378 shares of the technology company’s stock valued at $500,000 after purchasing an additional 272 shares during the period. State of Michigan Retirement System boosted its position in shares of Pegasystems by 1.4% in 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 period. Finally, Fifth Third Bancorp increased its stake in Pegasystems by 96.5% in the 4th quarter. Fifth Third Bancorp now owns 617 shares of the technology company’s stock worth $37,000 after purchasing an additional 303 shares in the last quarter. Institutional investors and hedge funds own 46.89% of the company’s stock.

Pegasystems Company Profile

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.