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Pegasystems Inc. - PEGA STOCK NEWS

Welcome to our dedicated page for Pegasystems news (Ticker: PEGA), a resource for investors and traders seeking the latest updates and insights on Pegasystems stock.

Pegasystems Inc. (NASDAQ: PEGA) is a frontrunner in the realm of software for customer engagement and operational excellence. Founded in 1983, Pegasystems has crafted an impressive legacy of delivering award-winning solutions in customer relationship management (CRM) and business process management (BPM). The cornerstone of their offerings is the Pega Infinity platform, a unified cloud-architected suite that seamlessly integrates BPM and CRM functionalities.

The Pega Infinity platform empowers enterprises to rapidly deploy, extend, and adapt applications to meet evolving business needs. Leveraging advanced artificial intelligence and robotic automation, Pegasystems' software suite ensures that organizations can achieve breakthrough business results and maintain a competitive edge.

Pegasystems serves a wide array of enterprise-sized clients, focusing predominantly on the financial, insurance, and healthcare sectors. Their adaptive software solutions are designed to cater to the specific needs of these verticals, offering enhanced customer engagement through streamlined operations.

Notably, Pegasystems has formed strategic partnerships and collaborations that bolster its capability to deliver innovative solutions. These partnerships enhance Pega's ability to integrate cutting-edge technology and maintain its position as a leader in the software industry.

With a commitment to continuous improvement and innovation, Pegasystems remains at the forefront of the industry, providing robust solutions that drive efficiency and customer satisfaction. For the latest updates and news about Pegasystems, visit their official website at www.pega.com.

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Pegasystems Inc. (NASDAQ: PEGA) has achieved FedRAMP® High Ready compliance and In Process status with the Department of Veterans Affairs for its Pega Cloud® for Government solution. This milestone advances Pega's federal agency capabilities, meeting the highest security standards required by the U.S. government for cloud services. FedRAMP High, the most rigorous standard, assesses IT solutions across hundreds of security controls based on NIST guidelines.

Pega Cloud for Government, powered by AWS GovCloud, offers tools and operational support for government agencies to develop applications optimized for their workloads. It helps streamline organizational complexity and improve operational efficiency while maintaining compliance with critical government standards. This achievement underscores Pega's commitment to providing secure, efficient, and compliant solutions for federal agencies' digital transformation initiatives.

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Pegasystems (NASDAQ: PEGA) reported Q2 2024 results, highlighting a 13% YoY growth in Annual Contract Value (ACV) in constant currency. Total revenue increased by 18% to $351.2M, driven by strong performance in Pega Cloud and Subscription License. The company achieved GAAP net income of $6.6M, reversing a loss of $46.8M in Q2 2023. Non-GAAP net income surged to $45.8M from $1.2M. Free cash flow reached $218M in H1 2024. The Pega Cloud backlog exceeded $1B for the first time. CEO Alan Trefler attributed the success to innovations like Pega GenAI Blueprint and deeper client engagement. CFO Ken Stillwell emphasized improved profitability and AI innovation positioning Pega for future growth. Despite a decline in consulting revenue, the company’s overall outlook remains robust.

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Pegasystems Inc. (NASDAQ: PEGA) has been recognized for its inclusive culture and comprehensive employee benefits by three prestigious industry programs. The company earned top scores in the Disability Equality Index for the third consecutive year, was included in Seramount's 100 Best Companies for working parents, and made Parity.Org's 2024 ParityLIST.

These accolades highlight Pega's commitment to fostering an inclusive workplace that supports all employees. The company offers a range of benefits including paid gender-neutral parental leave, subsidized childcare, and increased mental health support. Pega's efforts in creating equal opportunities for all employees are detailed in its 2023 Impact Report.

Kate Parente, Pega's chief people officer, emphasized the company's focus on cultivating a culture of caring and belonging, providing opportunities for collaboration and inclusivity, and offering flexible benefits tailored to individual needs at every life stage.

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Pegasystems (NASDAQ: PEGA), a leader in AI decisioning and workflow automation, will release its Q2 2024 financial results on July 24, 2024, after market close.

A conference call and webcast are scheduled for July 25, 2024, at 8:00 a.m. EDT to discuss the results. Investors and the public can participate by dialing specific phone numbers or through a webcast link available on Pega's website.

A replay of the call will be accessible via the company's website.

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Pegasystems Inc. (NASDAQ: PEGA) released its 2023 Global Impact Report, highlighting progress and initiatives in Environmental, Social, and Governance (ESG) areas.

Social achievements include recognition as a Best Place to Work for Disability Inclusion and high scores on the Human Rights Campaign Foundation’s Corporate Equality Index. The company also launched return-to-work programs in North America and India, received a Corporate Citizenship Award, and donated to over 350 organizations globally.

Environmental highlights feature achieving 2025 energy and water usage reduction goals ahead of schedule, helping clients with emissions-reduction solutions through Pega Cloud®, and submitting climate change-related disclosures to CDP.

Governance initiatives include diligent oversight at committee, leadership, and Board levels, updating policies for risk assessment and stakeholder engagement, and publishing the AI Manifesto to guide responsible AI practices.

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Pegasystems (NASDAQ: PEGA), a leader in AI decisioning and workflow automation, has declared a quarterly cash dividend of $0.03 per share for Q3 2024.

The dividend will be distributed on July 15, 2024, to shareholders on record as of July 1, 2024.

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Pegasystems' recent study, conducted by research firm Savanta and presented at PegaWorld iNspire, highlights the increasing adoption of AI technologies by enterprises worldwide. The survey of over 500 business decision-makers reveals that 95% attribute their broader use of AI tools to the rise of generative AI. While generative AI is primarily used for creative tasks, analytical 'left-brain' AI solutions are less prevalent. The study also indicates a strong belief in AI's potential to transform businesses and increase productivity, with 92% planning to boost AI usage in the next five years.

However, challenges persist, including budgetary inefficiencies and a lack of proper AI strategy. Despite high confidence in AI understanding, misconceptions remain, as evidenced by the 61% of respondents who experienced failed AI implementations. Concerns about AI transparency, bias, and job displacement are also noted, though there is a growing trust in AI's role in business operations. The demand for AI skills is on the rise, with 98% of respondents valuing prior AI experience in new hires.

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Pegasystems (NASDAQ: PEGA) announced its expansion of Pega GenAI capabilities to connect to AWS and Google Cloud’s Large Language Models (LLMs). This integration aims to enhance decision-making and workflow automation for Pega clients using generative AI technologies. The new capabilities, showcased at PegaWorld iNspire on June 9-11, will be available in the second half of 2024. The offerings include models like Amazon Bedrock, Amazon Titan, Google Vertex AI, Google Gemini, and Claude from Anthropic. This extension allows enterprises to build AI applications with security and compliance, boosting productivity through Pega’s low-code development platform.

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Pegasystems has announced new enhancements for its Pega GenAI Blueprint tool at PegaWorld iNspire in Las Vegas. This app design tool uses generative AI to streamline workflow creation. Since its launch in April, it has been adopted by nearly 500 organizations, creating over 30,000 blueprints.

New features include legacy transformation accelerators, live application previews, an improved user interface, automatic data model generation, enhanced collaboration, idea generation, and partner-supplied templates. These updates aim to make the design process faster and more intuitive.

By the end of June, users can import legacy models and preview applications across different channels. The tool is integrated with Pega’s App Studio for seamless app development. The Pega GenAI Blueprint has shown significant potential in transforming digital workflows, drawing positive feedback from industry leaders.

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Pegasystems announced the winners of the 2024 Pega Partner Innovation Awards at PegaWorld iNspire in Las Vegas. The awards honor partners for exceptional client outcomes using Pega's low-code AI decisioning and workflow automation platform. Key awards included Partner of the Year to Capgemini, Technology Partner to AWS, and Market Maker to Accenture. Other notable winners included Aaseya for Delivery Excellence and TCS for Innovation. The conference gathered industry leaders to discuss strategies for enhancing productivity, innovation, and customer interactions.

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FAQ

What does Pegasystems Inc. specialize in?

Pegasystems Inc. specializes in software solutions for customer engagement and operational excellence, mainly through their Pega Infinity platform.

What is the Pega Infinity platform?

The Pega Infinity platform is a unified suite that integrates business process management (BPM) and customer relationship management (CRM) applications.

Which industries does Pegasystems primarily serve?

Pegasystems primarily serves enterprise-size customers in the financial, insurance, and healthcare sectors.

What technologies underpin Pegasystems' software solutions?

Pegasystems' software solutions leverage advanced artificial intelligence and robotic automation.

How long has Pegasystems been in operation?

Pegasystems was founded in 1983, marking over 30 years of delivering innovative software solutions.

What are some recent achievements of Pegasystems?

Pegasystems continues to deliver award-winning capabilities in CRM and BPM, helping leading brands achieve breakthrough business results.

Does Pegasystems work with other companies or form partnerships?

Yes, Pegasystems has formed strategic partnerships to enhance its technology integration and service delivery.

Where can I find more information about Pegasystems Inc.?

For more information, visit Pegasystems' official website at www.pega.com.

What is Pegasystems' approach to customer engagement?

Pegasystems aims to enhance customer engagement by providing adaptive, easy-to-deploy software solutions that meet strategic business needs.

How does Pegasystems ensure operational excellence?

Pegasystems ensures operational excellence through its advanced BPM and CRM solutions, powered by AI and robotic automation.

Pegasystems Inc.

Nasdaq:PEGA

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PEGA Stock Data

5.20B
85.03M
47.69%
47.39%
1.03%
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