Pegasystems Inc - PEGA STOCK NEWS

Pegasystems Inc. (PEGA) reported a strong Q3 2022, with a 16% annual contract value (ACV) growth in constant currency. Pega Cloud ACV increased by 39%, and total backlog saw an 11% growth year over year. Despite revenue reaching $270.7 million, the company reported a net loss of $93.5 million for the quarter, a 66% increase compared to the previous year. CEO Alan Trefler emphasized profitable growth, while COO Ken Stillwell highlighted challenges from foreign exchange fluctuations. The company aims for the Rule of 40 by 2024.

Pegasystems (NASDAQ: PEGA) announced new enhancements in its Pega Infinity software suite, aimed at boosting productivity through advanced AI integration. Unveiled on October 18, 2022, these features enable organizations to deploy applications rapidly, create smarter workflows, and elevate employee and customer experiences. The update enhances user interaction with AI-driven insights, improving operational efficiency and decision-making processes. Key enhancements include a Developer Assistant Panel and Prediction Widget, offering advanced functionalities for developers and end-users alike.

Pegasystems (NASDAQ: PEGA) will report its third-quarter financial results on October 26, 2022, after market close. Following the earnings release, a conference call will be held at 5:00 p.m. EDT, open to the public and investors. Participants can join via a dialing number or through a href="https://viavid.webcasts.com/starthere.jsp?ei=1574684&tp_key=adfbdc0fb8">webcast. A replay will be available on Pega's website in the Investors section. The company focuses on providing a low-code platform for business agility through AI-powered solutions.

Pegasystems Inc. (NASDAQ: PEGA) announced the establishment of Pega Government LLC, a new entity aimed at addressing the unique product requirements and compliance demands of U.S. government clients. Sponsored initially by the Department of Justice, this entity will provide support for federal and defense agencies. Pega has a history of aiding major government agencies in their modernization efforts. The entity will leverage Pega Cloud for Government to enhance operational efficiency and streamline organizational complexity.

Pegasystems Inc. (NASDAQ: PEGA) announced enhancements to its Robot Studio, a low-code authoring environment for robotic process automation (RPA). The revamped Robot Studio simplifies the bot-building process for users of all skill levels, promoting efficiency in business operations. Key features include intelligent recording capabilities for faster bot creation, a centralized repository for component reuse, and an intuitive user interface. As organizations increasingly adopt RPA to streamline tasks, these improvements aim to reduce maintenance efforts and accelerate automation deployment.

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.