Pegasystems Inc.

This is our first report on the American software giant, Pegasystems Inc. The company ended 2022 on a positive note with an all-around beat and a 16% ACV growth. Pega Cloud innovation has sped up adoption, and they have made great strides toward modernizing its clients. The company is deepening its strategic partnerships with its clients and reliable partners. In 2022, they released a new version of Pega Infinity, which enables businesses to develop apps more quickly, design better workflows, and enhance customer and employee experiences. They also offered new low-code forces, services, and templates to assist businesses in increasing output while easing the burden on their IT departments and upholding good governance. In addition, they improved their robotics capabilities to make it even simpler for users of any skill level to develop robotic automation that contributes to business process efficiency. The company added intuitive process mining capabilities by acquiring Everflow to create the most comprehensive hyper-automation solution, allowing Pega clients to find and address hidden processing inefficiencies that would otherwise impede their operations. We initiate coverage on the stock of Pegasystems, Inc. with a ‘Hold’ rating.