Pegasystems Inc - PEGA STOCK NEWS

Pegasystems Inc. (NASDAQ: PEGA), a leading enterprise AI decisioning and workflow automation platform provider, has announced its participation in an upcoming investor conference. Ken Stillwell, COO and CFO of Pega, will present at the Canaccord Genuity's 44th Annual Growth Conference & Private Company Showcase.

The in-person presentation is scheduled for Tuesday, August 13th, 2024, at 4:00 p.m. EDT (1:00 p.m. PDT). Interested parties can access a live webcast of the presentation through a provided link. Archives of the presentation will be available on Pega's website Investors page for a time after the event.

Pegasystems Inc. (NASDAQ: PEGA) has achieved FedRAMP® High Ready compliance and In Process status with the Department of Veterans Affairs for its Pega Cloud® for Government solution. This milestone advances Pega's federal agency capabilities, meeting the highest security standards required by the U.S. government for cloud services. FedRAMP High, the most rigorous standard, assesses IT solutions across hundreds of security controls based on NIST guidelines.

Pega Cloud for Government, powered by AWS GovCloud, offers tools and operational support for government agencies to develop applications optimized for their workloads. It helps streamline organizational complexity and improve operational efficiency while maintaining compliance with critical government standards. This achievement underscores Pega's commitment to providing secure, efficient, and compliant solutions for federal agencies' digital transformation initiatives.

Pegasystems (NASDAQ: PEGA) reported Q2 2024 results, highlighting a 13% YoY growth in Annual Contract Value (ACV) in constant currency. Total revenue increased by 18% to $351.2M, driven by strong performance in Pega Cloud and Subscription License. The company achieved GAAP net income of $6.6M, reversing a loss of $46.8M in Q2 2023. Non-GAAP net income surged to $45.8M from $1.2M. Free cash flow reached $218M in H1 2024. The Pega Cloud backlog exceeded $1B for the first time. CEO Alan Trefler attributed the success to innovations like Pega GenAI Blueprint and deeper client engagement. CFO Ken Stillwell emphasized improved profitability and AI innovation positioning Pega for future growth. Despite a decline in consulting revenue, the company’s overall outlook remains robust.

Pegasystems Inc. (NASDAQ: PEGA) has been recognized for its inclusive culture and comprehensive employee benefits by three prestigious industry programs. The company earned top scores in the Disability Equality Index for the third consecutive year, was included in Seramount's 100 Best Companies for working parents, and made Parity.Org's 2024 ParityLIST.

These accolades highlight Pega's commitment to fostering an inclusive workplace that supports all employees. The company offers a range of benefits including paid gender-neutral parental leave, subsidized childcare, and increased mental health support. Pega's efforts in creating equal opportunities for all employees are detailed in its 2023 Impact Report.

Kate Parente, Pega's chief people officer, emphasized the company's focus on cultivating a culture of caring and belonging, providing opportunities for collaboration and inclusivity, and offering flexible benefits tailored to individual needs at every life stage.

Pegasystems (NASDAQ: PEGA), a leader in AI decisioning and workflow automation, will release its Q2 2024 financial results on July 24, 2024, after market close.

A conference call and webcast are scheduled for July 25, 2024, at 8:00 a.m. EDT to discuss the results. Investors and the public can participate by dialing specific phone numbers or through a webcast link available on Pega's website.

A replay of the call will be accessible via the company's website.

Pegasystems Inc. (NASDAQ: PEGA) released its 2023 Global Impact Report, highlighting progress and initiatives in Environmental, Social, and Governance (ESG) areas.

Social achievements include recognition as a Best Place to Work for Disability Inclusion and high scores on the Human Rights Campaign Foundation’s Corporate Equality Index. The company also launched return-to-work programs in North America and India, received a Corporate Citizenship Award, and donated to over 350 organizations globally.

Environmental highlights feature achieving 2025 energy and water usage reduction goals ahead of schedule, helping clients with emissions-reduction solutions through Pega Cloud®, and submitting climate change-related disclosures to CDP.

Governance initiatives include diligent oversight at committee, leadership, and Board levels, updating policies for risk assessment and stakeholder engagement, and publishing the AI Manifesto to guide responsible AI practices.

Pegasystems (NASDAQ: PEGA), a leader in AI decisioning and workflow automation, has declared a quarterly cash dividend of $0.03 per share for Q3 2024.

The dividend will be distributed on July 15, 2024, to shareholders on record as of July 1, 2024.

Pegasystems' recent study, conducted by research firm Savanta and presented at PegaWorld iNspire, highlights the increasing adoption of AI technologies by enterprises worldwide. The survey of over 500 business decision-makers reveals that 95% attribute their broader use of AI tools to the rise of generative AI. While generative AI is primarily used for creative tasks, analytical 'left-brain' AI solutions are less prevalent. The study also indicates a strong belief in AI's potential to transform businesses and increase productivity, with 92% planning to boost AI usage in the next five years.

However, challenges persist, including budgetary inefficiencies and a lack of proper AI strategy. Despite high confidence in AI understanding, misconceptions remain, as evidenced by the 61% of respondents who experienced failed AI implementations. Concerns about AI transparency, bias, and job displacement are also noted, though there is a growing trust in AI's role in business operations. The demand for AI skills is on the rise, with 98% of respondents valuing prior AI experience in new hires.

Pegasystems (NASDAQ: PEGA) announced its expansion of Pega GenAI capabilities to connect to AWS and Google Cloud’s Large Language Models (LLMs). This integration aims to enhance decision-making and workflow automation for Pega clients using generative AI technologies. The new capabilities, showcased at PegaWorld iNspire on June 9-11, will be available in the second half of 2024. The offerings include models like Amazon Bedrock, Amazon Titan, Google Vertex AI, Google Gemini, and Claude from Anthropic. This extension allows enterprises to build AI applications with security and compliance, boosting productivity through Pega’s low-code development platform.