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. reports company news tied to its AI-powered platform for enterprise transformation, including workflow automation, customer engagement, legacy-system modernization, and Pega Cloud adoption. Updates commonly cover financial results, Annual Contract Value trends, cloud momentum, investor conference participation, and capital actions such as quarterly dividends.
Product announcements also center on Pega Blueprint, Pega Customer Service, Pega Process Mining, and government-focused tools for secure application and workflow modernization, along with customer and partner activity around enterprise AI deployments.
Pegasystems (NASDAQ: PEGA) has been recognized as a Leader in Gartner's Magic Quadrant for Enterprise Low-Code Application Platforms (LCAPs). The evaluation included 13 platforms based on Completeness of Vision and Ability to Execute. According to Gartner, by 2028, 60% of software development organizations will use enterprise LCAPs as their main internal developer platform, up from 10% in 2024.
The evaluation focused on Pega's Infinity suite, which combines AI-powered decisioning and workflow automation with a low-code environment. The suite includes Pega GenAI Blueprint, an app design-as-a-service tool that accelerates workflow design and implementation.
Pegasystems (NASDAQ: PEGA) reported strong Q3 2024 results with notable cloud growth. Annual Contract Value (ACV) increased 16% year over year (14% in constant currency), while Pega Cloud ACV grew 30% (26% in constant currency). The company generated $251 million in operating cash flow and $246 million in free cash flow for the first nine months of 2024. Total revenue was $325.1 million, down 3% year over year. While GAAP net loss widened to $14.4 million, non-GAAP net income reached $34.6 million. Pega Cloud revenue grew 22% to $144.1 million, representing 44% of total revenue.
Pegasystems Inc. (NASDAQ: PEGA), the leading enterprise AI decisioning and workflow automation platform provider, has announced it will report financial results for the third quarter of 2024 on Wednesday, October 23, 2024, after market close. The company will host a conference call and audio-only webcast on Thursday, October 24, 2024, at 8:00 a.m. EDT.
Investors and the public are invited to join the call by dialing 1 (800) 715-9871 (domestic) or 1 (646) 307-1963 (international) using Conference ID 2282955. Alternatively, participants can join via webcast at https://events.q4inc.com/attendee/813806779 or by visiting www.pega.com. A replay of the call will be available on the company's website in the Investors section.
Pegasystems (NASDAQ: PEGA) announced its upcoming Government Empowered 2024 summit, scheduled for October 16, 2024, in Washington D.C. The event, now in its seventh year, aims to showcase how federal agencies can modernize systems to better serve citizens through digital transformation. The summit will feature presentations and discussions on technologies such as cloud, artificial intelligence (AI), and intelligent automation reshaping the public sector.
Attendees will gain insights from technology practitioners at key federal agencies, including the FBI, IRS, Social Security Administration, TSA, and Veterans Affairs. The event will also include experts from government technology solutions providers like Accenture Federal Services, AWS, Ernst & Young, and others. The summit focuses on demonstrating how software innovation and legacy modernization can enhance government efficiency and constituent outcomes.
Pegasystems Inc. (NASDAQ: PEGA) has announced the global expansion of its Pega University Program to address the growing demand for software development talent. The program, initially successful in India, will now extend to North America, Europe, and Asia Pacific, offering two models:
1. Full-Service Option: TalentSprint handles recruitment, training, and deployment of new employees.
2. 'Bring-Your-Own-Student' Option: Organizations can enroll their selected graduates in certification programs.
The initiative aims to provide clients and partners with pre-trained Pega-certified professionals, helping to alleviate the global IT skills shortage. Since its launch in India in 2016, the program has trained and placed over 10,000 Pega professionals, with 46% being women. The curriculum focuses on Pega software, offering students technical knowledge and hands-on experience.
Pegasystems Inc. (NASDAQ: PEGA) has appointed Jackie McKinley as head of Americas commercial sales. With over 30 years of global sales and executive management experience, McKinley will oversee the execution of Pega's sales strategy and relationship management for commercial clients in the Americas. She previously held leadership positions at NetApp and Dell Technologies, managing billion-dollar businesses.
At Pega, McKinley will support clients in incorporating innovative technology, navigating cloud migrations, and legacy transformations. She will report to Leon Trefler, chief of clients & markets, working to grow Pega's portfolio of current and new clients. McKinley holds a bachelor's degree in marketing and management and has been recognized for her professional achievements and charitable work.
Pegasystems Inc. (NASDAQ:PEGA) has created a new executive position to accelerate the adoption of Pega Cloud. Frank Guerrera, previously Pega's chief technical systems officer, will assume the role of chief cloud officer. This strategic move aims to support clients in quickly realizing benefits such as enhanced application deployment, scalability, and security.
The decision comes as worldwide spending on public cloud services is forecasted to reach $805 billion in 2024 and double by 2028. Guerrera will oversee all aspects of cloud business development, including driving Pega Cloud adoption, managing cloud migration efforts, and facilitating the transition from legacy systems. Pega Cloud powers mission-critical solutions for large organizations, maximizing customer value, simplifying service, and boosting efficiency.
Pegasystems Inc. (NASDAQ: PEGA), a leader in enterprise AI decisioning and workflow automation platforms, has announced its quarterly cash dividend for the fourth quarter of 2024. The company will maintain its current dividend program, paying $0.03 per share to shareholders. This dividend will be distributed on October 15, 2024, to shareholders of record as of October 1, 2024. The announcement demonstrates Pega's commitment to providing regular returns to its investors, even as it continues to operate in the competitive AI and automation sector.
Pegasystems Inc. (NASDAQ: PEGA) has been recognized as the highest-ranked vendor in Gartner's 2024 Critical Capabilities for Sales Force Automation Platforms report. Pega Sales Automation received the highest scores for all use cases, including B2B, B2C, and Indirect/relationship Sales, for the fourth consecutive year.
The report highlights the importance of AI-powered sales execution and engagement solutions, emphasizing the need for vendors offering configurability and extensibility via sales AI studio/admin capabilities. Pega's solution, built on Pega Platform, helps automate and simplify complex sales processes to close deals faster and deepen customer relationships.
This recognition adds to Pega's recent analyst accolades, including being named a Leader in Forrester's Customer Service Solutions and Real-Time Interaction Management reports, as well as Gartner's Magic Quadrant for CRM Customer Engagement Center 2023.
Pegasystems Inc. (NASDAQ: PEGA), a leading enterprise AI decisioning and workflow automation platform provider, has announced its participation in two upcoming investor conferences. Ken Stillwell, COO and CFO of Pega, will be presenting at:
1. Citi 2024 Global TMT Conference on Thursday, September 5, 2024, at 11:40 a.m. EDT.
2. Goldman Sachs Communacopia & Technology Conference on Tuesday, September 10, 2024, at 7:30 a.m. PDT.
Both presentations will be available via live webcast, with links provided for interested parties. Archives of the presentations will be accessible from Pega's Investors page for a time, offering investors valuable insights into the company's strategies and performance.