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PEGA Pegasystems

Pegasystems Inc.(Pega) delivers innovative software that crushes business complexity so its clients can make better decisions and get work done. Pega helps the world's leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while its scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow.

Company profile

PEGA stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

28 Apr 21
24 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Pegasystems earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 172.71M 172.71M 172.71M 172.71M 172.71M 172.71M
Cash burn (monthly) (positive/no burn) 30.45M 8.08M 11.95M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 84.9M 22.52M 33.33M n/a n/a
Cash remaining n/a 87.8M 150.19M 139.38M n/a n/a
Runway (months of cash) n/a 2.9 18.6 11.7 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
16 Jun 21 Efstathios A Kouninis Common stock Sell Dispose S No No 132.89 293 38.94K 2,438
16 Jun 21 Efstathios A Kouninis Common stock Payment of exercise Dispose F No No 132.95 185 24.6K 2,731
16 Jun 21 Efstathios A Kouninis Common stock Option exercise Aquire M No No 25.2 478 12.05K 2,916
16 Jun 21 Efstathios A Kouninis Stock Options Common stock Option exercise Dispose M No No 25.2 478 12.05K 478
14 Jun 21 Efstathios A Kouninis Common stock Payment of exercise Dispose F No No 131.29 23 3.02K 2,438
14 Jun 21 Efstathios A Kouninis Common stock Option exercise Aquire M No No 0 93 0 2,461
14 Jun 21 Efstathios A Kouninis RSU Common stock Option exercise Dispose M No No 0 93 0 93
9 Jun 21 Rifat Kerim Akgonul Common stock Sell Dispose S No No 127.72 2,470 315.47K 45,409
9 Jun 21 Kenneth Stillwell Common stock Sell Dispose S No No 129.06 992 128.03K 8,127
9 Jun 21 Kenneth Stillwell Common stock Payment of exercise Dispose F No No 128.84 1,055 135.93K 9,119

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

46.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 248 256 -3.1%
Opened positions 38 34 +11.8%
Closed positions 46 30 +53.3%
Increased positions 95 94 +1.1%
Reduced positions 79 91 -13.2%
13F shares
Current Prev Q Change
Total value 4.34B 5.26B -17.5%
Total shares 37.92M 39.48M -3.9%
Total puts 76.35K 54K +41.4%
Total calls 236.5K 69.3K +241.3%
Total put/call ratio 0.3 0.8 -58.6%
Largest owners
Shares Value Change
Bares Capital Management 5.14M $588.25M -1.2%
Luxor Capital 3.95M $451.71M +29.7%
Vanguard 3.69M $422.4M +2.2%
BLK Blackrock 2M $229.07M +0.9%
IVZ Invesco 1.78M $203.67M -4.1%
Praesidium Investment Management 1.61M $184.53M +30.8%
Riverbridge Partners 1.31M $150.03M -2.3%
Bamco 1.3M $149.02M +4.8%
Foxhaven Asset Management 1.12M $128M +89.3%
TPG 982.53K $112.34M -17.5%
Largest transactions
Shares Bought/sold Change
Cadian Capital Management 349.41K -1.7M -82.9%
William Blair Investment Management 981.38K +981.38K NEW
Luxor Capital 3.95M +903.63K +29.7%
Carillon Tower Advisers 0 -845.66K EXIT
SQN Investors 0 -554.79K EXIT
Foxhaven Asset Management 1.12M +528.01K +89.3%
Dorsal Capital Management 175K -400K -69.6%
Praesidium Investment Management 1.61M +380.14K +30.8%
Eminence Capital 813.15K +373.34K +84.9%
Norges Bank 0 -358.55K EXIT

Financial report summary

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Risks
  • If we fail to manage our transition to a more subscription-based business model successfully, our results of operations and/or cash flows could be negatively impacted.
  • We may not achieve the key elements of our strategy and grow our business as anticipated.
  • We depend on key personnel, including our Chief Executive Officer, and must be able to attract and retain qualified personnel in the future.
  • The timing of our license and Pega Cloud revenue is difficult to predict accurately, which may cause our operating results to vary considerably.
  • We may not be able to maintain our retention rate for Pega Cloud clients.
  • We are investing heavily in sales and marketing, research and development, and support resources in anticipation of continued growth in license and Pega Cloud arrangements, and we may experience decreased profitability or losses and reduced or negative cash flow if we do not continue to increase the value of our license and Pega Cloud arrangements to balance our growth in expenses.
  • We face risks from operations and clients based outside of the U.S.
  • We rely on third-party relationships.
  • We are exposed to fluctuations in currency exchange rates that could negatively impact our financial results and cash flows.
  • Our consulting revenue is significantly dependent upon our consulting personnel implementing new license and Pega Cloud arrangements.
  • We frequently enter into a series of license or Pega Cloud arrangements that are each focused on a specific purpose or area of operations. If we are not successful in obtaining follow-on business from these clients, our financial performance could be materially adversely affected.
  • We will need to acquire or develop new products, evolve existing ones, address any defects or errors, and adapt to technology changes.
  • The market for our offerings is intensely and increasingly competitive, rapidly changing, and fragmented.
  • Our Chief Executive Officer is our largest stockholder and can exert significant influence over matters submitted to our stockholders, which could materially adversely affect our other stockholders.
  • We face risks related to outages, data losses, and disruptions of our online services if we fail to maintain an adequate operations infrastructure.
  • Security of our systems and global client data is a growing challenge on many fronts. Cyber-attacks and security breaches may expose us to significant legal and financial liabilities.
  • We may experience significant errors or security flaws in our products and services and could face privacy, product liability, and warranty claims as a result.
  • We have a significant amount of debt that may decrease our business flexibility, access to capital, and/or increase our borrowing costs, and we may still incur additional debt in the future, which may adversely affect our operations and financial results.
  • The conditional conversion feature of the Notes, if triggered, may adversely affect our financial condition and operating results.
  • The Capped Call Transactions may affect the value of the Notes and our common stock.
  • We are exposed to counterparty risk for the Capped Call Transactions.
  • Provisions in the Notes’ Indenture may deter or prevent a business combination that may be favorable to our stockholders.
  • Conversion of the Notes may dilute the ownership interest of existing stockholders.
  • We are required to comply with certain financial and operating covenants under our revolving credit facility. Failure to comply with these covenants could cause amounts borrowed to become immediately due and payable and/or prevent us from borrowing under the credit facility.
  • Our success depends in part on maintaining and increasing our sales to clients in the public sector.
  • We are subject to increasingly complex U.S. and foreign laws and regulations, requiring costly compliance measures. Any failure to comply with these laws and regulations could subject us to, among other things, penalties and legal expenses that could harm our reputation or have a material adverse effect on our business, financial condition, and results of operations.
  • We may have exposure to greater than anticipated tax liabilities.
  • If it becomes necessary or desirable to repatriate any of our foreign cash balances to the United States, we may be subject to increased taxes, other restrictions, and limitations.
  • We face risks related to intellectual property claims or appropriation of our intellectual property rights.
  • We may be subject to intellectual property rights claims by third parties, which are extremely costly to defend, could require us to pay significant damages, and could limit our ability to use certain technologies.
  • Epidemic diseases, such as the recent global COVID-19 outbreak, could harm our business and results of operations.
  • The provision in our amended and restated bylaws, requiring exclusive forum in certain courts in The Commonwealth of Massachusetts or the federal district court for the District of Massachusetts for certain types of lawsuits, may have the effect of discouraging lawsuits against us and our directors, officers, and employees.
  • The continued uncertainties in the global economy may negatively impact our sales to, and the collection of receivables, from our clients.
  • The U.K.’s withdrawal from the European Union (commonly referred to as “Brexit”) on January 31, 2020 could have a material impact on our business, including our relationships with existing and future clients, suppliers, and employees, which could harm our financial results and operations.
  • We may fail to meet our publicly announced guidance or other expectations about our business and future operating results, which could cause our stock price to decline.
Management Discussion
  • We are in the process of transitioning our business to sell software primarily through subscription arrangements, particularly Pega Cloud. Revenue growth has been slower because of this transition. Revenue from Pega Cloud and maintenance arrangements is typically recognized over the contract term. In contrast, revenue from license sales is recognized when the license rights become effective, typically upfront.
  • (1) Reflects client arrangements subject to renewal (Pega Cloud, maintenance, and term license).
  • The total revenue change in the three months ended March 31, 2021 generally reflects our Cloud Transition. Other factors impacting our revenue include:
Content analysis
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8th grade Avg
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Patents

GRANT
Utility
System and method for non-programmatically constructing software solutions
30 Mar 21
A visual software development system in which a user can graphically build a design or software solution without having to write software code includes one or more adapters that interrogate interfaces of the software platform that a software system or systems is built in accordance with and generate descriptions that the user can then incorporate into the design.
APP
Utility
Automatic Control Identification
11 Mar 21
A technique to automatically identify controls of a software application is disclosed.
GRANT
Utility
Method and system for determining user interface usage
23 Nov 20
For example, in an embodiment, a method of determining user interface usage may comprise collecting, from a user interface including at least one data entry field, data indicating at least one event that occurs as a result of an action performed by a user on a data entry field and data associated with the user interface at the time of the at least one action, extracting, from the data indicating at least one event and the data associated with the user interface, data indicating an entity associated with the at least one event, applying an interval to the data indicating at least one event, the data associated with the user interface, and the data indicating an entity and determining an entity as owner of the event for that interval, and determining a duration of an activity based on a number of intervals that contain a given entity and action.
GRANT
Utility
Method and apparatus for user interface non-conformance detection and correction
16 Nov 20
The invention provides in one aspect a method that includes identifying one or more rules for execution by a rules engine in order to generate a user interface.
GRANT
Utility
Connecting graphical shapes using gestures
29 Jun 20
The present disclosure describes systems and apparatuses for connecting graphical shapes.