Pegasystems Inc - PEGA STOCK NEWS

Pegasystems Inc. (NASDAQ: PEGA) reported Q3 2020 financial results, reflecting resilience amid challenges. Subscription revenue surged by 27% year-over-year, signaling continued growth in cloud transitions. Overall, total revenue increased 4% to $225.9 million, while year-to-date revenue climbed 13% to $718.9 million. Net losses improved by 36% to $19.3 million (GAAP). With over $450 million in cash and investments, Pegasystems is well-positioned to capture opportunities in the $50+ billion digital transformation market.

Pegasystems, Inc. (NASDAQ: PEGA) announced a collaboration with StepChange Debt Charity to create an online service to assist UK citizens facing financial hardships due to the pandemic. The new Covid Payment Plan (CVPP) enables users to apply for debt relief quickly and efficiently. Over two million people in the UK are expected to be impacted by debt. StepChange aims to assist those in need by offering short-term relief for qualifying individuals. The CVPP is designed for high demand, capable of handling up to 10,000 concurrent users and leveraging existing Pega technologies for rapid deployment.

Pegasystems (NASDAQ: PEGA) has been named a Leader in Forrester's Q4 2020 Real-Time Interaction Management (RTIM) report. The company achieved top scores in two of three main categories—current offering and strategy—and received the highest score in 25 of 30 criteria evaluated. Forrester's report noted Pega's superior performance in areas such as customer recognition and innovation roadmap, highlighting its impact on customer-focused outcomes through its AI-powered Customer Decision Hub. This recognition underscores Pega's significant contributions to digital transformation and operational efficiency for enterprises.

Peg systems Inc. (NASDAQ: PEGA) will release its third-quarter financial results on October 28, 2020, after market close. A conference call will follow at 5:00 p.m. EDT, allowing public participation via phone or webcast. This report is crucial for investors seeking insights into Pega's financial performance during the quarter, as the company continues its focus on digital transformation and operational excellence. For detailed updates, stakeholders can access the company’s website for the webcast and earnings call replay.

Pegasystems (NASDAQ: PEGA) has collaborated with Her Majesty's Revenue and Customs (HMRC) to enhance the UK's COVID-19 support initiatives by mitigating risks associated with fraud. The partnership has resulted in the rapid deployment of Pega's automation solutions to facilitate the processing of claims under various government programs, including job retention and support for the self-employed. As of September 20, claims reached £39.3 billion from 1.2 million employers, with additional support claims totaling £5.6 billion. The project was completed in under two weeks, emphasizing Pega's commitment to aiding government efforts during the pandemic.

Pegakystems Inc. announced the launch of Value Finder, an AI-powered feature designed to enhance customer engagement by addressing underserved clients. This tool, part of the Pega Customer Decision Hub, identifies neglected customers and optimizes engagement strategies tailored to their needs. Value Finder simplifies the approval process for business changes and allows for 'what-if' simulations to optimize marketing strategies before implementation. It will be available in October as part of the latest software version of Pega Customer Decision Hub.

Pegasystems Inc. (NASDAQ: PEGA) has announced a quarterly cash dividend of $0.03 per share, reflecting the company's commitment to its current dividend program. This Q4 2020 dividend will be disbursed on October 15, 2020, to shareholders on record as of October 1, 2020. Pega aims to empower digital transformation in enterprises through its innovative cloud software solutions.

Pegasystems Inc. (NASDAQ: PEGA) released research indicating that intelligent automation will significantly shape the future of work post-pandemic. The global study surveyed over 3,000 senior managers and IT staff, revealing that 84% prioritize pandemic preparedness. Key findings show that 76% plan to increase investment in intelligent automation, while 51% aim to expand AI and cloud solutions. Additionally, 86% anticipate significant technological changes in the workplace in the next five years. The results underscore the necessity for businesses to adopt advanced technologies to thrive in future disruptions.

Pegasystems Inc. (NASDAQ: PEGA) announces that PegaWorld iNspire will return on May 4, 2021 as a free virtual conference, addressing ongoing pandemic uncertainties. Over 26,000 attended the previous virtual event. A call for presentations is open until October 23, 2020. Pega has also introduced Pega Discover, a series of virtual events focusing on specific solutions, scheduled across different time zones. Notable summits include One-to-one Customer Engagement on October 7, Customer Service on October 14, and Intelligent Automation on November 12.