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 Corticon.js, a serverless rules engine designed for quick integration into JavaScript applications. This release allows developers to implement rules without server-side processing, enhancing efficiency and reducing operational costs. Corticon.js supports lightweight architectures and enables faster decision-making in mobile deployments. The solution empowers business analysts to create business logic without coding, ensures regulatory compliance, and can be deployed as callable web services or embedded directly within applications.
Progress (NASDAQ: PRGS) announced that its WhatsUp Gold has been awarded the “2020 Network Monitoring Emotional Footprint Award” by SoftwareReviews. This award recognizes the product for its superior usability, intuitiveness, and customization capabilities, achieving an emotional footprint score of +80 out of 16 solutions evaluated. The award is based on user feedback, affirming the product's value in network monitoring for businesses. Progress aims to continue innovating to enhance customer experience and address IT management needs.
Progress (NASDAQ: PRGS) reported its fiscal Q2 2020 results with revenue of $100.4 million, remaining flat year-over-year. Diluted earnings per share increased 106% to $0.37. Non-GAAP revenue saw a 1% decline while non-GAAP earnings per share decreased 3% to $0.63. The company raised its 2020 guidance for revenue to a range of $425 - $435 million and for diluted EPS to $1.81 - $1.85. Despite anticipated impacts from COVID-19, Progress maintains confidence in a strong business model and plans for potential M&A activities.
Progress (NASDAQ: PRGS) announced the first recipient of the Mary Székely Scholarship for Women in STEM, awarded to Kaya Dorogi from Marlborough, MA. The scholarship, honoring Progress' co-founder, provides $10,000 annually for women pursuing degrees in computer science and related fields. Kaya, a graduate of the Bancroft School, is recognized for her outstanding academic achievement and involvement in technology startups and STEM leadership initiatives. She will study computer science at Columbia University, embodying the entrepreneurial spirit celebrated by the scholarship.
Progress (NASDAQ: PRGS) announced that its Progress MOVEit has been awarded the Gold Medal in the 2020 Managed File Transfer Data Quadrant Awards by SoftwareReviews, marking the second consecutive year of recognition. Evaluated against nine MFT solutions, MOVEit excelled based on over 670 user reviews, ranking highly in features, usability, ease of integration, and administration. The award reflects the growing importance of secure file transfer solutions as remote workforces proliferate, emphasizing customer support and effective technology.
Progress has announced the release of MOVEit 2020, an enhanced secure Managed File Transfer (MFT) solution featuring MOVEit Mobile 2.0, designed for both on-premises and cloud deployment. The mobile app allows non-technical users to securely manage file transfers, especially in remote work environments. The update includes native support for Azure Blob storage, customizable security classifications, and a redesigned MOVEit Gateway. This release addresses the growing demand for secure file sharing and compliance needs as businesses adapt to hybrid working conditions.
Progress (NASDAQ: PRGS) announced winners of the 2020 Website of the Year Awards, recognizing excellence in design, user experience, and innovation across 13 categories. Over 11,000 votes were cast for websites powered by Progress Sitefinity. Notable winners included the Association for Institutional Research and Rhea Lana's. This event highlights the platform's capability in delivering engaging digital experiences, celebrating organizations that excel in leveraging Sitefinity features to overcome business challenges.
Progress (NASDAQ: PRGS) announced the appointment of Jeremy Segal as Senior Vice President, Corporate Development. With over 20 years of experience in M&A at technology firms, Segal is set to spearhead the company’s inorganic growth strategy, aiming to double in size through acquisitions within five years. His previous roles include Global Head of Corporate Development at LogMeIn and Vice President at Akamai Technologies, where he managed over 35 acquisitions valued at $8 billion. CEO Yogesh Gupta expressed confidence in Segal's ability to enhance shareholder value through disciplined acquisition efforts.
Progress (NASDAQ: PRGS) has launched the Sitefinity 13 Digital Experience Platform, enhancing personalization and productivity for organizations facing digital transformation challenges. The platform offers capabilities such as data-driven analytics, omni-channel engagement, and machine learning insights to optimize customer journeys. In a recent survey, 79% of organizations emphasized the need for digital experiences to gain competitive advantages. Progress aims to help businesses adapt to changing consumer behaviors and improve operational efficiency, crucial in the current unpredictable market landscape.
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