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Progress Software Corp (DE) - PRGS STOCK NEWS

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.

News

Announcement for the Purposes of Rule 2.12 of the Irish Takeover Rules

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Progress Software Corp. confirms potential cash offer for MariaDB plc under Irish Takeover Rules, with no certainty of offer completion. Further announcements pending.
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Progress Announces First Quarter 2024 Financial Results

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Progress (PRGS) reports strong first-quarter financial results with revenue of $185 million, a 12% increase year-over-year. Diluted earnings per share decreased by 4% to $0.51, while non-GAAP diluted earnings per share increased by 5% to $1.25. The company also announced a new credit facility and convertible notes offering to enhance financial flexibility.
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Progress Software Corp. Statement regarding Possible Offer for MariaDB plc

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Progress Software Corp. considers a possible offer to acquire MariaDB plc at $0.60 per share, offering a 9% premium over a previous offer and significant premiums over average and previous share prices. Progress sees MariaDB's RDBMS products as valuable, aligning with its expertise and customer-centric approach. The announcement reflects Progress's intent to engage with MariaDB's Board for due diligence and a potential firm offer, emphasizing stakeholder interests.
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Progress Partners with Veeam Software to Deliver AI-Powered Network Detection and Response to Global Enterprises

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Progress partners with Veeam Software to enhance cyber defense solutions for customers by combining network detection and response capabilities with data protection technologies.
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Progress Receives 2024 Emotional Footprint Award for Metadata Management from SoftwareReviews

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Progress Semaphore, a metadata management and semantic AI platform by Progress (PRGS), ranked #1 in SoftwareReviews' 2024 Metadata Management Emotional Footprint Awards. It achieved the highest scores in Emotional Footprint, Customer Experience, and Value Index. Users praised Semaphore for being reliable, enabling productivity, and helping innovate.
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Progress Software to Report First Quarter 2024 Financial Results on March 26, 2024

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Progress (PRGS) to Release Fiscal First Quarter 2024 Financial Results on March 26, 2024
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ABN AMRO Moves Progress-Powered Credit Store App to Azure Cloud; Achieves 40% Faster Data Processing, Lower TCO and Improved Business Resilience

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ABN AMRO Bank, a major European bank, migrated its Progress-powered Credit Store application to Microsoft Azure using MarkLogic Data Hub, resulting in faster data processing, increased resilience, and reduced Total Cost of Ownership. This move allowed the bank to access real-time data, streamline decision-making, and ensure compliance with corporate and regulatory standards.
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Progress Recognized by Gartner® in the 2024 Magic Quadrant™ for Digital Experience Platforms for Third Consecutive Year

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Progress (PRGS) has been recognized in the 2024 Gartner Magic Quadrant for Digital Experience Platforms for the third consecutive year. The company's Digital Experience portfolio, including Sitefinity, enables organizations to create personalized digital experiences across multiple channels. Progress has also received accolades for its ease of implementation, personalization, and user-friendly tools.
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Progress Announces Amended Credit Facility

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Progress (PRGS) secures a new $900 million credit facility to enhance liquidity and flexibility, supporting future growth and acquisitions. The facility replaces existing secured credit lines and matures in 2029, providing ample room for strategic maneuvers.
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Progress Opens Applications for 2024 Women in STEM Scholarship Series in Bulgaria and India Honoring International Women’s Day

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Progress (PRGS) announces the opening of applications for the 2024 Women in Tech Scholarship program in Bulgaria and the Akanksha Scholarship for Women in STEM in India to empower women in technology fields. The deadline for submissions is April 12, 2024, aligning with the theme of International Women's Day to invest in women's progress. CEO Yogesh Gupta emphasizes the company's commitment to supporting future women leaders in STEM through education.
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FAQ

What is the current stock price of Progress Software (DE) (PRGS)?

The current stock price of Progress Software (DE) (PRGS) is $69.25 as of November 22, 2024.

What is the market cap of Progress Software (DE) (PRGS)?

The market cap of Progress Software (DE) (PRGS) is approximately 2.9B.

What is Progress Software Corporation's core business?

Progress Software Corporation simplifies the development, deployment, and management of business applications across various platforms and devices.

What are some of Progress Software Corporation's key products?

Key products include OpenEdge, Chef, Developer Tools, Kemp LoadMaster, MOVEit, DataDirect, WhatsUp Gold, Sitefinity, Flowmon, and Corticon.

How does Progress generate revenue?

Progress generates revenue through perpetual licenses, term licensing models, and subscription-based models for its cloud-based offerings.

Where is Progress Software Corporation headquartered?

Progress is headquartered at 14 Oak Park Drive, Bedford, MA 01730, USA.

What recent partnerships has Progress announced?

In March 2024, Progress announced a strategic partnership with Veeam® Software to provide enhanced cybersecurity solutions.

What recognitions has Flowmon ADS received?

Flowmon ADS was recognized as a Technology Leader in the 2023 SPARK Matrix™: Network Detection and Response report and won gold in the 2023 Globee® Cybersecurity Awards.

What recent releases has Progress made in 2024?

Progress released enhanced versions of Progress® Telerik® and Progress® Kendo UI®, focusing on AI integration, design-to-code productivity, and accessibility features.

What regions contribute significantly to Progress' revenue?

While the majority of revenue is generated in the United States, Progress also has a significant presence in Canada, EMEA, Latin America, and Asia Pacific.

How many customers rely on Progress' OpenEdge-based applications?

Over 400,000 end-user customers globally run on Progress OpenEdge-based applications.

How many developers and technologists depend on Progress?

Over 4 million developers and technologists across hundreds of thousands of enterprises rely on Progress.

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Progress Software Corp (DE)

Nasdaq:PRGS

PRGS Rankings

#1714 Ranked by Market Cap
#1791 Ranked by Dividends

PRGS Stock Data

2.95B
42.26M
1.47%
116.97%
10.84%
Software - Infrastructure
Services-prepackaged Software
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United States of America
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