Pegasystems Inc Stock Price, News & Analysis

Pegasystems has launched new AI-driven legacy discovery capabilities in Pega GenAI Blueprint to accelerate legacy system modernization. The platform now enables IT teams to analyze existing systems rapidly and reimagine workflows while reducing technical debt. Key features include analysis of workflows through BPMN files, process mining analysis, data definitions through DDL files, and integration analysis via OpenAPI documents.

The solution has generated over 60,000 blueprints since launch, making it Pega's fastest-adopted solution. The platform releases new features weekly, including enhanced Live Preview and new automation types. This development addresses the technical debt crisis, which according to a Protiviti survey, impacts innovation ability in nearly 70% of organizations.

Pegasystems (NASDAQ: PEGA) has announced its participation in the upcoming RBC Capital Markets Technology, Internet, Media & Telecommunications Conference. Ken Stillwell, COO and CFO, will deliver a presentation on Tuesday, November 19, 2024, at 11:20 a.m. EST in New York. The presentation will be accessible via live webcast, with archived recordings available on Pega's Investors webpage for a time.

Pegasystems (NASDAQ: PEGA) has announced the general availability of Pega Infinity 24.2, introducing enhanced generative AI capabilities across its enterprise platform. Key updates include expanded LLM flexibility supporting AWS Amazon Bedrock and Google Cloud Vertex AI, the new Pega GenAI Blueprint for faster application development, and improved customer service features. The release enhances the Pega Platform, Customer Decision Hub, Customer Service, and Sales Automation solutions with AI-powered tools for better customer engagement and workflow automation. Notable additions include custom GenAI Coaches, improved journey orchestration, and new integrations with Snowflake and Google BigQuery.

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.