Pagenaud finished runner-up at St. Petersburg for the second consecutive year. The Team Penske driver of the No. 1 PPG Automotive Refinish Chevrolet used the 2016 St. Pete result as a launching pad to his first series championship.
"At the end (of the race), I pushed really, really hard at the beginning of the stint on the (Firestone alternate) red tires to try to come back and get (Bourdais) on the pit sequence," Pagenaud said. "And I pushed so hard that actually the tires dropped off really quickly afterwards and I couldn't keep up toward the end of the stint.
"I'm very happy that we finished second, which is where we finished last year, so hopefully that's good luck."
Scott Dixon placed third in the No. 9 GE LED Lighting Honda, marking the 90th time the Chip Ganassi Racing driver has finished in the top three and tying the New Zealander with Helio Castroneves for sixth on the all-time podium chart.
Andretti Autosport teammates Ryan Hunter-Reay and Takuma Sato finished fourth and fifth, respectively, giving Honda four of the top five finishers. Bourdais' win is the first for Honda on a temporary street circuit since the manufacturer swept the Houston doubleheader in June 2014, also the last time Dale Coyne Racing won a race.
The next stop on the 17-race Verizon IndyCar Series schedule is the Toyota Grand Prix of Long Beach the weekend of April 7-9. Live race coverage starts at 4 p.m. ET April 9 on NBCSN and the Advance Auto Parts INDYCAR Radio Network.
After crashing his car in the first round of qualifying Saturday, Bourdais started today's race at the rear of the 21-car field. He had advanced to ninth place when the second and last full-course caution flag waved on Lap 26. When seven cars in front of Bourdais made pit stops under the yellow, Bourdais seized the advantage. He passed reigning Verizon IndyCar Series champion Pagenaud for first place on Lap 37 and led 69 of the last 84 laps.
"Honestly, I'm a little speechless," said Bourdais, the four-time Indy car champion who now has led 2,526 laps in his career, good for 22nd place all-time. "We had a miserable day yesterday (in qualifying) and that was all me, and today we turned it into a great day. Once you're in the lead here, it's awful difficult to lose it unless you throw it away, so I sure tried not to do that again."