Pegasystems Inc. (NASDAQ:PEGA) declared a quarterly dividend on Monday, June 15th, Zacks reports. Shareholders 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 $0.12 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, June 30th.
Pegasystems has a payout ratio of 600.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Pegasystems to earn ($0.56) per share next year, which means the company may not be able to cover its $0.12 annual dividend with an expected future payout ratio of -21.4%.
Shares of Pegasystems stock opened at $97.97 on Monday. Pegasystems has a 12-month low of $38.01 and a 12-month high of $103.13. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -89.06 and a beta of 1.26. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $93.13 and its 200-day moving average price is $84.08.
A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating on shares of Pegasystems in a report on Thursday, April 30th. ValuEngine raised shares of Pegasystems from a “hold” rating to a “buy” rating in a research note on Tuesday, March 17th. Wedbush raised their target price on shares of Pegasystems from $96.00 to $104.00 and gave the stock an “outperform” rating in a report on Thursday, April 30th. KeyCorp lifted their price target on shares of Pegasystems from $104.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, Sidoti started coverage on shares of Pegasystems in a report on Tuesday, April 14th. They set a “buy” rating and a $116.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $111.75.
In other Pegasystems news, SVP Leon Trefler sold 607 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $67.17, for a total value of $40,772.19. Following the sale, the senior vice president now directly owns 13,420 shares of the company’s stock, valued at $901,421.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Efstathios A. Kouninis sold 490 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $92.00, for a total value of $45,080.00. Following the completion of the sale, the chief accounting officer now directly owns 2,520 shares in the company, valued at $231,840. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,514 shares of company stock worth $2,293,033. 51.89% of the stock is owned by corporate insiders.
Pegasystems Inc develops, markets, licenses, and supports enterprise software applications in the United States, India, and internationally. 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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