Pegasystems Inc - PEGA STOCK NEWS

Pegasystems Inc. (NASDAQ: PEGA) announced the appointment of Dr. Christian Guttmann as Vice President of Engineering, Decisioning & AI on April 5, 2023. Dr. Guttmann, an AI expert with over 25 years of experience, previously led AI initiatives at Tietoevry and has held significant roles at IBM and British Telecom. He will oversee the AI technologies powering Pega Infinity™ and the Pega Customer Decision Hub™, enhancing the company’s AI capabilities. Guttmann's experience is expected to strengthen Pega's position in the AI industry. He is also set to present at the upcoming PegaWorld iNspire conference from June 11-13, 2023.

Pegasystems Inc. (NASDAQ: PEGA) announced enhancements to Pega Cloud on March 28, 2023, aimed at providing clients with zero downtime while operating on the latest technology. These upgrades include an improved Global Operations Center for better management, enhanced scalability for fluctuating demand, independent service updates for continuous software performance, and improved fault tolerance for automated service recovery. These developments are critical for enterprises facing economic challenges, ensuring reliable customer experiences and optimal technology utilization. The new capabilities are currently available and will be showcased at PegaWorld iNspire from June 11-13 in Las Vegas.

Pegasystems Inc. (NASDAQ: PEGA) announced the upcoming PegaWorld iNspire conference scheduled for June 11-13, 2023, at MGM Grand, Las Vegas. The event will feature industry leaders, including executives from Aflac, Citi, Rabobank, and Virgin Media Ireland, discussing the practical applications of technologies like generative AI and intelligent automation. Attendees will have access to breakout sessions on customer experience transformation, responsible AI implementation, and hands-on training. CEO Alan Trefler emphasized the importance of applying future technologies to meet current business challenges.

Pegasystems Inc. (NASDAQ: PEGA) has announced a quarterly cash dividend of $0.03 per share, maintaining its dividend program. This dividend for Q2 2023 will be payable on April 17, 2023, to shareholders of record as of April 3, 2023. The decision to keep the dividend reflects the company's commitment to providing returns to its shareholders while continuing to empower enterprises with its low-code platform for business transformation.

Pegasystems Inc. (NASDAQ: PEGA) announced on March 7, 2023, enhancements to the Pega Foundation for Healthcare, aimed at improving access to care for healthcare organizations. The upgrades include increased interoperability, AI-powered decision-making, and responsive benefits to streamline complex processes. These advancements address new procedural changes affecting 16 million individuals due to the transition from the COVID-19 public health emergency by enabling timely payment authorizations and patient care management. The solution is designed to improve customer engagement and operational efficiency while reducing costs.

Pegasystems (NASDAQ: PEGA) announced plans to enhance its Pega Infinity platform with new generative AI capabilities, which are set to launch in Q3 2023. These features will enable users to execute tasks using simple natural language prompts, significantly boosting productivity across various applications, from development to customer engagement. The integration aims to refine processes such as application development and operational insights while ensuring a secure enterprise environment. This move is expected to accelerate digital transformation for clients, with demonstrations planned at PegaWorld iNspire in June 2023.

Pegasystems Inc. (NASDAQ: PEGA) has been recognized as a Leader in Forrester Research's Q1 2023 report on Robotic Process Automation (RPA). The company achieved the highest score in the automation design and development criterion and received top marks in governance, security, pricing flexibility, and partner ecosystem. Pega's RPA solutions enhance automation efficiency, enabling businesses to automate repetitive tasks with speed and accuracy. This accolade further solidifies Pega's standing in the industry, following its previous recognitions in related automation categories. Pega continues to invest in scalable automation solutions to better serve its clients.

Pegasystems Inc. (NASDAQ: PEGA) announced a collaboration with Shawbrook Bank to enhance its unsecured loan process using Pega Platform™. This transformation improved processing time by 75%, saving 1,500 hours each month, thereby elevating the customer experience. The bank's initiative reflects its commitment to applying technology intelligently while maintaining a strong human touch. The next phase of implementation will target efficiencies in 'buy-to-let' mortgage applications and digitizing account opening processes. This partnership showcases Pega's capabilities in streamlining financial operations and enhancing customer service.

Pegasystems Inc. reported a strong performance for Q4 and full-year 2022, highlighting a 16% year-over-year growth in Annual Contract Value (ACV) and a 70% gross margin for Pega Cloud. Total revenue increased by 25% to $396 million in Q4 and 9% to $1.32 billion for the year. Notably, subscription revenue surpassed $1 billion. The company anticipates an 11%-13% growth in ACV for 2023, with projected free cash flow reaching $150 million. Despite a GAAP net loss of $345 million, non-GAAP metrics showed significant improvement, including a diluted EPS of $0.82 for Q4.