Pegasystems Inc. (PEGA) To Go Ex-Dividend on October 1st

Pegasystems Inc. (NASDAQ:PEGA) declared a quarterly dividend on Monday, September 14th. Shareholders of record on Thursday, October 1st will be given a dividend of 0.03 per share by the technology company on Thursday, October 15th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date is Thursday, October 1st.

Pegasystems has increased its dividend by an average of 0.1%per year over the last three years. Pegasystems has a dividend payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Pegasystems to earn $1.91 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 6.3%.

Pegasystems Trading Down 2.8%

Shares of NASDAQ:PEGA opened at $37.63 on Wednesday. Pegasystems has a 52 week low of $25.10 and a 52 week high of $68.10. The company’s 50 day moving average is $32.99 and its two-hundred day moving average is $35.97. The company has a market cap of $6.19 billion, a PE ratio of 21.26 and a beta of 0.89.

Pegasystems (NASDAQ:PEGA) last released its quarterly earnings data on Tuesday, July 21st. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The firm had revenue of $420.72 million for the quarter, compared to analysts’ expectations of $427.38 million. Pegasystems had a return on equity of 32.21% and a net margin of 18.66%.Pegasystems’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities research analysts expect that Pegasystems will post 1.66 EPS for the current year.

Insider Transactions at Pegasystems

In other news, insider Kerim Akgonul sold 7,000 shares of Pegasystems stock in a transaction on Friday, September 11th. The shares were sold at an average price of $36.03, for a total value of $252,210.00. Following the transaction, the insider directly owned 104,804 shares of the company’s stock, valued at $3,776,088.12. The trade was a 6.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Efstathios Kouninis sold 1,063 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $38.75, for a total transaction of $41,191.25. Following the completion of the sale, the chief accounting officer owned 1,164 shares of the company’s stock, valued at approximately $45,105. This trade represents a 47.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 50,690 shares of company stock worth $1,812,829. Insiders own 48.40% of the company’s stock.

Hedge Funds Weigh In On Pegasystems

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Pegasystems during the second quarter worth about $286,923,000. Copeland Capital Management LLC purchased a new position in Pegasystems during the first quarter worth about $47,817,000. Ranger Investment Management L.P. acquired a new stake in Pegasystems in the second quarter valued at about $26,168,000. Capital Impact Advisors LLC acquired a new stake in Pegasystems in the fourth quarter valued at about $45,705,000. Finally, Bank of New York Mellon Corp purchased a new stake in Pegasystems in the 2nd quarter valued at approximately $19,382,000. Hedge funds and other institutional investors own 46.89% of the company’s stock.

Pegasystems Company Profile

Pegasystems Inc develops enterprise software for customer engagement, workflow automation and business process management. Its solutions help organizations manage customer service, sales, marketing, operations and back-office processes across digital and traditional channels.

The company’s product portfolio includes Pega Platform, a low-code application development and automation platform; Pega Customer Service and Pega Sales; Pega Customer Decision Hub for real-time, personalized customer engagement; and tools for case management, robotic process automation and artificial intelligence.