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Pegasystems Inc. (NASDAQ: PEGA) is a frontrunner in the realm of software for customer engagement and operational excellence. Founded in 1983, Pegasystems has crafted an impressive legacy of delivering award-winning solutions in customer relationship management (CRM) and business process management (BPM). The cornerstone of their offerings is the Pega Infinity platform, a unified cloud-architected suite that seamlessly integrates BPM and CRM functionalities.
The Pega Infinity platform empowers enterprises to rapidly deploy, extend, and adapt applications to meet evolving business needs. Leveraging advanced artificial intelligence and robotic automation, Pegasystems' software suite ensures that organizations can achieve breakthrough business results and maintain a competitive edge.
Pegasystems serves a wide array of enterprise-sized clients, focusing predominantly on the financial, insurance, and healthcare sectors. Their adaptive software solutions are designed to cater to the specific needs of these verticals, offering enhanced customer engagement through streamlined operations.
Notably, Pegasystems has formed strategic partnerships and collaborations that bolster its capability to deliver innovative solutions. These partnerships enhance Pega's ability to integrate cutting-edge technology and maintain its position as a leader in the software industry.
With a commitment to continuous improvement and innovation, Pegasystems remains at the forefront of the industry, providing robust solutions that drive efficiency and customer satisfaction. For the latest updates and news about Pegasystems, visit their official website at www.pega.com.
Pegasystems Inc. announced its Q1 2023 financial results, highlighting a 15% year-over-year growth in annual contract value (ACV). The company reported a Pega Cloud gross margin of 72%, emphasizing its focus on profitable growth, which led to substantial cash generation. Despite a 14% decline in total revenue to $325.5 million from $376.3 million in the same quarter last year, the non-GAAP net income stands at $19.2 million, a 62% decrease. The diluted loss per share on a GAAP basis was $(0.25), compared to a profit last year. CEO Alan Trefler expressed optimism about client engagement and growth opportunities, while COO Ken Stillwell noted success in key financial metrics including ACV growth and free cash flow. A conference call will discuss these results further.
Pegasystems Inc. (NASDAQ: PEGA) announced a partnership with Tealium, integrating its Customer Decision Hub with Tealium's Customer Data Platform (CDP). This collaboration empowers brands to utilize first-party data and AI to enhance customer interactions across various channels while ensuring compliance with data privacy regulations like GDPR and CCPA. The new connector facilitates real-time data transfer and deepens customer insights for more personalized experiences. This initiative aligns with Pega's broader strategy of delivering AI-driven solutions that prioritize ethical data usage and improve customer engagement.
Pegasystems Inc. (NASDAQ: PEGA) announced it will release its financial results for the first quarter of 2023 on April 26, 2023, after market close. An audio-only conference call will occur at 5:00 p.m. EDT on the same day, where investors and the public can participate in a Q&A session. Interested participants can join via phone or through a webcast. A replay of the call will be accessible on the company's website. Pegasystems specializes in a low-code platform that enables enterprises to adapt to changing market demands, leveraging AI-powered decisioning and workflow automation to address business challenges effectively.
Pegasystems Inc. (NASDAQ: PEGA) announced the appointment of Dr. Christian Guttmann as Vice President of Engineering, Decisioning & AI on April 5, 2023. Dr. Guttmann, an AI expert with over 25 years of experience, previously led AI initiatives at Tietoevry and has held significant roles at IBM and British Telecom. He will oversee the AI technologies powering Pega Infinity™ and the Pega Customer Decision Hub™, enhancing the company’s AI capabilities. Guttmann's experience is expected to strengthen Pega's position in the AI industry. He is also set to present at the upcoming PegaWorld iNspire conference from June 11-13, 2023.
Pegasystems Inc. (NASDAQ: PEGA) announced enhancements to Pega Cloud on March 28, 2023, aimed at providing clients with zero downtime while operating on the latest technology. These upgrades include an improved Global Operations Center for better management, enhanced scalability for fluctuating demand, independent service updates for continuous software performance, and improved fault tolerance for automated service recovery. These developments are critical for enterprises facing economic challenges, ensuring reliable customer experiences and optimal technology utilization. The new capabilities are currently available and will be showcased at PegaWorld iNspire from June 11-13 in Las Vegas.
Pegasystems Inc. (NASDAQ: PEGA) announced the upcoming PegaWorld iNspire conference scheduled for June 11-13, 2023, at MGM Grand, Las Vegas. The event will feature industry leaders, including executives from Aflac, Citi, Rabobank, and Virgin Media Ireland, discussing the practical applications of technologies like generative AI and intelligent automation. Attendees will have access to breakout sessions on customer experience transformation, responsible AI implementation, and hands-on training. CEO Alan Trefler emphasized the importance of applying future technologies to meet current business challenges.
Pegasystems Inc. (NASDAQ: PEGA) has announced a quarterly cash dividend of $0.03 per share, maintaining its dividend program. This dividend for Q2 2023 will be payable on April 17, 2023, to shareholders of record as of April 3, 2023. The decision to keep the dividend reflects the company's commitment to providing returns to its shareholders while continuing to empower enterprises with its low-code platform for business transformation.
Pegasystems Inc. (NASDAQ: PEGA) announced on March 7, 2023, enhancements to the Pega Foundation for Healthcare, aimed at improving access to care for healthcare organizations. The upgrades include increased interoperability, AI-powered decision-making, and responsive benefits to streamline complex processes. These advancements address new procedural changes affecting 16 million individuals due to the transition from the COVID-19 public health emergency by enabling timely payment authorizations and patient care management. The solution is designed to improve customer engagement and operational efficiency while reducing costs.
Pegasystems (NASDAQ: PEGA) announced plans to enhance its Pega Infinity platform with new generative AI capabilities, which are set to launch in Q3 2023. These features will enable users to execute tasks using simple natural language prompts, significantly boosting productivity across various applications, from development to customer engagement. The integration aims to refine processes such as application development and operational insights while ensuring a secure enterprise environment. This move is expected to accelerate digital transformation for clients, with demonstrations planned at PegaWorld iNspire in June 2023.
Pegasystems Inc. (NASDAQ: PEGA) has been recognized as a Leader in Forrester Research's Q1 2023 report on Robotic Process Automation (RPA). The company achieved the highest score in the automation design and development criterion and received top marks in governance, security, pricing flexibility, and partner ecosystem. Pega's RPA solutions enhance automation efficiency, enabling businesses to automate repetitive tasks with speed and accuracy. This accolade further solidifies Pega's standing in the industry, following its previous recognitions in related automation categories. Pega continues to invest in scalable automation solutions to better serve its clients.
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