Pegasystems Inc Stock Price, News & Analysis

Pegasystems (NASDAQ: PEGA) has launched a new version of Pega Smart Dispute Enterprise Edition, enhancing its payment dispute resolution solution with generative AI and automation features. The upgrade comes as banks face increasing chargeback requests, with U.S. disputes reaching $11 billion last year and expected to grow 40% by 2026.

The enhanced solution now supports all payment types, including traditional cards, mobile wallets, peer-to-peer payments, and BNPL systems. Key features include Pega GenAI Blueprint for rapid workflow creation, Pega GenAI Coach for employee guidance, and Pega Knowledge Buddy for data retrieval. The platform also offers improved architecture, a modernized user interface, and enhanced integrations with Pega Customer Service.

Pegasystems (NASDAQ: PEGA) has been named a Leader in Forrester's Task-Centric Automation Software Wave Q4 2024, achieving top scores in Current Offering and Strategy categories. The evaluation focused on Pega Infinity™ and Pega GenAI Blueprint™, receiving the highest possible scores in 18 out of 23 criteria.

Forrester recognized Pega as a 'powerhouse' in task-centric process automation, highlighting its sophisticated automation solutions across various industries. The report specifically praised Pega's comprehensive automation solution that addresses current operational needs while providing future growth pathways.

This recognition adds to Pega's recent achievements, including Leadership positions in Gartner's Magic Quadrant for Enterprise Low-Code Application Platforms and Forrester's Customer Service Solutions and Real-Time Interaction Management Waves.

Pegasystems (NASDAQ: PEGA) has announced two upcoming investor conference presentations by Ken Stillwell, COO and CFO. The first presentation will be at the UBS Global Technology and AI Conference on December 3, 2024, at 12:15 p.m. MST in Scottsdale, AZ. The second presentation will take place at the Barclays 22nd Annual Global Technology Conference on December 12, 2024, at 8:40 a.m. PST in San Francisco, CA. Both presentations will be accessible via live webcast, with archives available on Pega's Investors page for a time.

Pegasystems (NASDAQ: PEGA) has appointed Ravesh Lala as head of its legacy transformation practice. Lala brings over 20 years of experience from IBM, where he previously served as vice president for industry solutions in IBM Cloud for Financial Services. The appointment aims to help clients modernize legacy applications and accelerate cloud transformation using Pega GenAI Blueprint, the company's AI-infused workflow design platform. The platform has generated more than 60,000 blueprints since launch, making it Pega's fastest-adopted solution. New AI-driven legacy discovery capabilities will help IT teams analyze existing systems and reimagine workflows while reducing technical debt.

Pegasystems has launched new AI-driven legacy discovery capabilities in Pega GenAI Blueprint to accelerate legacy system modernization. The platform now enables IT teams to analyze existing systems rapidly and reimagine workflows while reducing technical debt. Key features include analysis of workflows through BPMN files, process mining analysis, data definitions through DDL files, and integration analysis via OpenAPI documents.

The solution has generated over 60,000 blueprints since launch, making it Pega's fastest-adopted solution. The platform releases new features weekly, including enhanced Live Preview and new automation types. This development addresses the technical debt crisis, which according to a Protiviti survey, impacts innovation ability in nearly 70% of organizations.

Pegasystems (NASDAQ: PEGA) has announced its participation in the upcoming RBC Capital Markets Technology, Internet, Media & Telecommunications Conference. Ken Stillwell, COO and CFO, will deliver a presentation on Tuesday, November 19, 2024, at 11:20 a.m. EST in New York. The presentation will be accessible via live webcast, with archived recordings available on Pega's Investors webpage for a time.

Pegasystems (NASDAQ: PEGA) has announced the general availability of Pega Infinity 24.2, introducing enhanced generative AI capabilities across its enterprise platform. Key updates include expanded LLM flexibility supporting AWS Amazon Bedrock and Google Cloud Vertex AI, the new Pega GenAI Blueprint for faster application development, and improved customer service features. The release enhances the Pega Platform, Customer Decision Hub, Customer Service, and Sales Automation solutions with AI-powered tools for better customer engagement and workflow automation. Notable additions include custom GenAI Coaches, improved journey orchestration, and new integrations with Snowflake and Google BigQuery.

Pegasystems (NASDAQ: PEGA) has been recognized as a Leader in Gartner's Magic Quadrant for Enterprise Low-Code Application Platforms (LCAPs). The evaluation included 13 platforms based on Completeness of Vision and Ability to Execute. According to Gartner, by 2028, 60% of software development organizations will use enterprise LCAPs as their main internal developer platform, up from 10% in 2024.

The evaluation focused on Pega's Infinity suite, which combines AI-powered decisioning and workflow automation with a low-code environment. The suite includes Pega GenAI Blueprint, an app design-as-a-service tool that accelerates workflow design and implementation.

Pegasystems (NASDAQ: PEGA) reported strong Q3 2024 results with notable cloud growth. Annual Contract Value (ACV) increased 16% year over year (14% in constant currency), while Pega Cloud ACV grew 30% (26% in constant currency). The company generated $251 million in operating cash flow and $246 million in free cash flow for the first nine months of 2024. Total revenue was $325.1 million, down 3% year over year. While GAAP net loss widened to $14.4 million, non-GAAP net income reached $34.6 million. Pega Cloud revenue grew 22% to $144.1 million, representing 44% of total revenue.