Pegasystems Inc Stock Price, News & Analysis

On October 3, 2022, Pegasystems (NASDAQ: PEGA) released a global study indicating a growing necessity for pre-emptive customer service technology to enhance customer experience. The survey revealed that 65% of business leaders aim to anticipate customer needs proactively within five years, addressing the challenges posed by increasingly digital-savvy customers. The report highlighted that 80% prioritize technology deployment to improve efficiency, while 55% recognize insufficient investment in new technologies as a major hurdle. The study emphasizes the urgency for organizations to adapt to shifting customer expectations or risk losing their clientele.

Pegasystems Inc. (NASDAQ: PEGA) announced the launch of Pega Customer Data Connectors, enabling clients to seamlessly integrate their existing customer data platforms (CDPs) with the Pega Customer Decision Hub. These connectors facilitate real-time data processing from major platforms like Adobe, Celebrus, and ZineOne, enhancing customer insights and operational efficiency. Organizations can now leverage AI-powered decision-making without vendor lock-in, activating curated data to optimize customer interactions within 90 days.

Pegasystems Inc. (NASDAQ: PEGA) announced a quarterly cash dividend of $0.03 per share, maintaining its dividend program. The Q4 2022 dividend is set for payment on October 17, 2022, to shareholders of record as of October 3, 2022. This decision reflects the company’s commitment to returning value to shareholders while continuing to support its low-code platform, designed to enhance organizational agility and operational efficiency.

On September 16, 2022, the Circuit Court for Fairfax County awarded Appian $2.036 billion in damages from Pegasystems for the willful misappropriation of trade secrets. Pegasystems is also required to pay $23.6 million in legal fees and approximately $122 million annually in post-judgment interest. The court ruled against Pegasystems after a seven-week trial, during which evidence revealed Pegasystems used a contractor to gain unauthorized access to Appian's software. Pegasystems plans to appeal the decision. This ruling is believed to be the largest damages award in Virginia state court history.

Pegasystems Inc. (NASDAQ: PEGA) announced that First Tech Federal Credit Union has deployed Pega Customer Service for Financial Services to enhance member and employee experiences. This partnership aims to simplify processes by consolidating multiple systems into a single platform, resulting in automated workflows and significant reductions in manual tasks. First Tech expects multi-million dollar cost savings and improved service efficiency, with reduced call handling times and faster innovation through digital transformation. The credit union serves over 720,000 members.

Pegasystems Inc. (NASDAQ: PEGA) announced that COO and CFO Ken Stillwell will present at two upcoming investor conferences. The Citi 2022 Global Technology Conference is on September 8, 2022, at 1:00 p.m. EDT in New York, NY. The Goldman Sachs Communacopia & Technology Conference is on September 15, 2022, at 7:30 a.m. PDT in San Francisco, CA. Archives of the presentations will be available on Pega's Investors page for a limited time.

Pegasystems Inc. (NASDAQ: PEGA) invites developers of all skill levels to register for its 2022 Pega Community Hackathon, open until October 7, 2022. Participants will create innovative applications addressing business and social challenges using Pega's low-code platform. The event offers mentorship and resources, with winners announced in October across seven categories, including Social Impact and Best in Show. Recognized teams will receive cash prizes, and a charity donation will be made for the Social Impact award winner.

Pegasystems Inc. (NASDAQ: PEGA) received the 2022 Partner of the Year Award from Virtusa, recognizing its effective collaboration and value delivery in technology and joint solutions. The award evaluated partners based on year-over-year pipeline growth, relationship tier, and go-to-market strategies. Pega and Virtusa's partnership, established in 2002, spans various industries, facilitating AI-powered decision-making and workflow automation through the Pega Platform. This recognition highlights Pega's commitment to client success and innovative problem-solving.