Pegasystems Inc - PEGA STOCK NEWS

Pegasystems Inc. (NASDAQ: PEGA) reported strong financial results for Q4 and full-year 2021, with total revenue reaching $1.21 billion, a 19% increase from 2020. Despite this growth, the company experienced a GAAP net loss of $63.04 million for the year. The CEO highlighted robust demand for digital transformation, aiming for $1 billion in Annual Contract Value (ACV) in 2022. Guidance for 2022 expects revenue between $1.46 billion and $1.49 billion, with a projected ACV growth of 20-22%. The company is transitioning to a subscription model, enhancing profitability and cash flow.

Research by Pegasystems reveals that over half of customer service agents struggle with accurately recording customer requests. Nearly 40% admit distractions hinder their understanding of customer needs. Key findings indicate that only 51% feel confident in data accuracy, with 64% distracted during interactions. Additionally, outdated systems slow responses, with 54% of agents citing application-switching as a major issue. Training deficiencies also add to frustrations, as 51% feel inadequately trained. However, 83% believe new technologies could significantly enhance their work experience.

Pegasystems Inc. has launched two AI-driven solutions, Pega Voice AI and Messaging AI, designed to enhance customer service by analyzing live conversations. This technology assists agents by automating data entry and recommending actions during calls and chats, allowing them to focus on resolving complex customer issues. A new survey indicates that many agents struggle with manual data entry, highlighting the need for such solutions. These innovations support not only productivity but also improve employee and customer experiences, making service interactions more efficient.

Pegasystems Inc. (NASDAQ: PEGA) will announce its financial results for Q4 and fiscal year 2021 on February 16, 2022, after market close. A conference call and audio-only webcast will follow at 5:00 p.m. EST, open to the public and investors. Participants can join by dialing 1-800-437-2398 (domestic) or 1-323-994-2093 (international) or via an online webcast. A replay will be available on Pega's website.

Pegasystems Inc. (NASDAQ: PEGA) announced a successful implementation of its Pega Robotic Process Automation™ (RPA) at QBE European Operations, a top insurer. This initiative aims to enhance operational efficiency and customer experience by automating workflows. QBE has automated around 30,000 customer claims tasks weekly, saving approximately 50,000 hours annually, equivalent to 25 full-time employees. The use of RPA has allowed QBE to reallocate employee time from administrative tasks to customer engagement, improving satisfaction for both customers and employees.

Pegasystems Inc. has appointed Katherine Parente as the new chief people officer, effective January 4, 2022. With over 20 years in human resources, Parente previously held leadership roles at FactSet Research Systems and Axiom. She will focus on enhancing Pega's global people strategy and operations, reporting directly to Alan Trefler, the founder and CEO. Pega, recognized as a top employer, aims to leverage her experience to address challenges in the evolving job market and continue its growth trajectory.

Pegasystems Inc. (NASDAQ: PEGA) announced a quarterly cash dividend of $0.03 per share, reflecting the company's commitment to its current dividend program. This dividend for Q1 2022 is scheduled for payment on January 17, 2022, to shareholders recorded by January 3, 2022. The company continues to help enterprises navigate business complexity using its innovative software powered by real-time AI and intelligent automation.

Pegasystems has been recognized as a Leader in Digital Process Automation (DPA) Software by Forrester in its Q4 2021 report. The company received the highest score in the current offering category, showcasing its advanced capabilities in low-code application development. Reference customers noted significant improvements in meeting business requirements more quickly and cost-effectively. The report emphasizes Pega's effectiveness in handling complex processes, integrating AI and automation, and providing scalable solutions for enterprises.