Pegasystems Inc. (NASDAQ:PEGA) announced a quarterly dividend on Tuesday, December 18th, Wall Street Journal reports. Investors of record on Tuesday, January 1st will be given a dividend of 0.03 per share by the technology company on Tuesday, January 15th. This represents a $0.12 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, December 28th.
Pegasystems has increased its dividend by an average of 10.1% annually over the last three years. Pegasystems has a dividend payout ratio of 92.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Pegasystems to earn ($0.30) 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 -40.0%.
Pegasystems stock opened at $46.79 on Wednesday. The stock has a market cap of $3.69 billion, a P/E ratio of 212.68 and a beta of 1.16. Pegasystems has a 52 week low of $45.40 and a 52 week high of $67.95.
Several analysts recently commented on the company. BidaskClub lowered Pegasystems from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Wedbush dropped their target price on Pegasystems from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. ValuEngine raised Pegasystems from a “buy” rating to a “strong-buy” rating in a report on Friday, November 30th. Finally, Zacks Investment Research raised Pegasystems from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Pegasystems presently has a consensus rating of “Buy” and a consensus target price of $70.20.
In other Pegasystems news, Director Larry Weber sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $53.45, for a total value of $26,725.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $53.40, for a total value of $80,100.00. Following the completion of the sale, the chief financial officer now directly owns 11,866 shares in the company, valued at $633,644.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,750 shares of company stock worth $630,310. 52.85% of the stock is owned by corporate insiders.
Pegasystems Company Profile
Pegasystems Inc develops, markets, licenses, and supports software applications for marketing, sales automation, customer service, and operations in the United States and internationally. It provides Pega Platform, an application development product for clients. The company offers customer engagement applications, including Pega Marketing that enable enterprises to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega sales automation to automate and manage the sales process; and Pega customer service to anticipate customer needs, connect customers, the right people and systems, and automate customer interactions to evolve the customer service experience and to allow enterprises to deliver interactions across channels and enhance employee productivity.
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