Pegasystems: Cramer's Top Takeaways

Did you miss "Mad Money" on CNBC? If so, here are some of Jim Cramer's top takeaways.

In an "Executive Decision" segment, Cramer sat down with Alan Trefler, founder and CEO of Pegasystems (PEGA) , the cloud computing giant that just posted blowout earnings. Shares of Pegasystems are up 29% so far this year.

Trefler explained that Pegasystems is at the heart of digital transformation and helping companies improve their operations. His company made a big push into artificial intelligence seven years ago and now has AI elements as core parts of their platform.

One of Pegasystems' newest offerings is transparent AI, or the ability to show how and why your AI is making decisions. Trefler said this is especially important in areas like banking, where sometimes you need to make loans where you otherwise wouldn't have or have to make decisions by including or excluding certain factors. Only Pegasystems has the ability to "show your work" so that banks can explain to regulators how and why decisions are being made.

Cramer said Pegasystems is a company investors need to know about because it's a buy.

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At the time of publication, Cramer's Action Alerts PLUS had a position in JWN.