Welcome to our dedicated page for Progress Software (DE) news (Ticker: PRGS), a resource for investors and traders seeking the latest updates and insights on Progress Software (DE) stock.
Progress Software Corporation (Nasdaq: PRGS) is a global leader in providing software solutions that simplify the development, deployment, and management of business applications. Headquartered in Bedford, MA, the company offers a comprehensive suite of products designed to operate on-premise, in the cloud, on any platform, and on any device with minimal IT complexity and low total cost of ownership.
Progress' flagship product, OpenEdge, powers applications for over 400,000 end-user customers globally and more than 1,400 ISVs (Independent Software Vendors). The company also offers a variety of other robust products, including Chef, Developer Tools, Kemp LoadMaster, MOVEit, DataDirect, WhatsUp Gold, Sitefinity, Flowmon, and Corticon. These tools are designed to enhance application development, business continuity, data connectivity, network performance, and IT infrastructure management.
Progress derives revenue through perpetual licenses, term licensing models, and subscription-based models for its cloud-based offerings. The majority of its revenue comes from the United States, with significant additional revenue streams from Canada, EMEA (Europe, Middle East, and Africa), Latin America, and the Asia Pacific region.
Recent Achievements and Partnerships:
- In March 2024, Progress announced a strategic partnership with Veeam® Software to provide enterprise-ready cybersecurity solutions, combining Progress' Flowmon® Anomaly Detection System (ADS) with Veeam’s Data Protection and Ransomware Recovery capabilities.
- Flowmon ADS was recognized as a Technology Leader in the 2023 SPARK Matrix™: Network Detection and Response (NDR) report and won gold in the 2023 Globee® Cybersecurity Awards.
- In May 2024, Progress released the latest versions of Progress® Telerik® and Progress® Kendo UI®, enhancing AI integration, design-to-code productivity, and accessibility features across its .NET and JavaScript UI libraries.
Progress' continued innovation and strategic alliances underline its commitment to providing top-tier solutions that address modern IT challenges. Over 4 million developers and technologists across hundreds of thousands of enterprises depend on Progress to enhance their technology landscapes and drive business success.
Progress (NASDAQ: PRGS) launched the OpenEdge on AWS Quick Start, enabling rapid migration of critical business applications to the AWS Cloud. This automated deployment uses AWS CloudFormation to set up a highly available, three-tier OpenEdge environment in just 20 minutes. The solution aims to modernize legacy applications, enhancing flexibility and scalability for organizations. With over 100,000 enterprises relying on OpenEdge, this launch positions Progress to better support customers' cloud transitions and streamline the application deployment process.
Progress (NASDAQ: PRGS) announced its partnership with Calgary Foothills Primary Care Network, a Canadian healthcare organization, to implement WhatsUp Gold, a network monitoring software. This implementation aims to enhance network performance by swiftly identifying and resolving issues, particularly as remote access demand has surged during the COVID-19 pandemic. Calgary Foothills PCN, serving over 379,000 patients with more than 490 family doctors, aims to improve IT efficiency and resource allocation.
Progress (NASDAQ: PRGS) announced that Gary Quinn, SVP of Core Field Organization, was named to CRN®’s 2021 Channel Chiefs list, recognizing his leadership and innovation in the IT channel.
Quinn's success includes expanding the Progress® Accelerate™ partner program, which centralizes resources for partners, enhancing their capabilities in the market.
CEO Yogesh Gupta praised Quinn's strategic role, highlighting the importance of channel partnerships in Progress’ growth and customer relationship enhancement.
Progress (NASDAQ: PRGS) announced the release of WhatsUp Gold 2021, enhancing its award-winning network monitoring software with integrated log management for syslog and Windows events. This update simplifies troubleshooting by allowing users to monitor, filter, and alert on network logs within a single interface. New features include outbound REST APIs for third-party application integration, optimized HTML reporting, and faster data processing. Recognized by PC Magazine as a leading network monitoring solution, WhatsUp Gold empowers businesses to manage IT infrastructure effectively.
Progress (NASDAQ: PRGS) has announced the R1 2021 release of Kendo UI, featuring over 24 new JavaScript UI components and support for Angular 11 and React 17. This update enhances developer productivity by offering new components such as DropDownTree and MultiColumnComboBox, alongside significant improvements in existing tools. The Kendo UI libraries cater to frameworks like Angular, React, Vue, and jQuery, facilitating the creation of high-performance web applications. The new capabilities are available now, with a related webinar scheduled for later this month.
On January 20, 2021, Progress (NASDAQ: PRGS) announced the R1 2021 release of Progress Telerik, featuring 26 new components and enhanced Telerik Reporting capabilities. The update strengthens Progress's leadership in Blazor, offering over 65 native UI components and extensive grid features. The next-level report engine improves the reporting experience with support for .NET 5 and enhanced functionalities. This release includes new controls for various platforms, including UI for ASP.NET Core, WPF, and WinForms, aimed at accelerating app development while improving user experience.
Progress (NASDAQ: PRGS) reported strong fiscal 2020 results with revenue of $442.15 million, marking a 7% increase year-over-year. Fourth quarter revenue reached $122.4 million, up 5% compared to the previous year, with diluted earnings per share at $0.39, reversing a loss from last year. The acquisition of Chef Software enhances its position in the growing DevOps market. Looking ahead, the company projects FY 2021 revenue between $487 million and $495 million and expects diluted EPS of $1.40 to $1.46.
Progress (NASDAQ: PRGS) has opened applications for the 2021 Mary Székely Scholarship aimed at empowering women in STEM. This four-year, renewable scholarship awards $10,000 annually to eligible women pursuing degrees in computer science and related fields. Applications are accepted until March 5, 2021, with the scholarship managed by The Philanthropic Initiative. The initiative honors Mary Székely, co-founder of Progress and a pioneer for women in technology. The scholarship highlights Progress's commitment to diversity and fostering future leaders in STEM.
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