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PEGA: $1B Buyback at Trough as $2B Litigation Overhang Lifts
PEGA at $43 (down 26% in one month) just reported accelerating fundamentals, eliminated a $2B litigation overhang, and authorized a $1.24B buyback (17% of float) — all while trading at 12.9x forward FCF for a business growing 15%+ with expanding margins. This is a sector-driven dislocation creating