Pegasystems Inc - PEGA STOCK NEWS

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.

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.