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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

Progress Recognized by Gartner® in the 2024 Magic Quadrant™ for Digital Experience Platforms for Third Consecutive Year

Rhea-AI Summary
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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Progress Software Announces Upsize and Pricing of Convertible Senior Notes Offering

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Progress Software Corporation announces the pricing of $400.0 million aggregate principal amount of 3.50% Convertible Senior Notes due 2030 to qualified institutional buyers. The offering includes an option for additional notes, closing on March 1, 2024. Progress plans to use the proceeds for various purposes, including repaying debt and share repurchases.
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Progress Software Announces Proposed Convertible Senior Notes Offering

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Progress Software Corporation announces a $350.0 million offering of Convertible Senior Notes due 2030. The Notes will be senior unsecured obligations and will mature on March 1, 2030. Progress plans to use the net proceeds for various purposes, including repaying debt and repurchasing shares of its common stock.
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Progress Enables Developers to Accelerate Application Modernization with Latest Release of OpenEdge

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Progress (Nasdaq: PRGS) announced the latest release of Progress® OpenEdge® 12.8, offering new features such as incremental build support, OpenTelemetry integration, and dynamic data masking. This release aims to help developers build robust, secure business applications while optimizing performance. The update also focuses on enhancing developer productivity, improving database performance, and reinforcing application security. OpenEdge 12.8 is positioned to simplify the delivery of mission-critical business applications for over 100,000 customers globally.
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Now Accepting Applications for the 2024 Progress Software Mary Székely Scholarship for Women in STEM

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Progress (Nasdaq: PRGS) has announced the opening of the application process for the 2024 Progress Software Mary Székely Scholarship for Women in STEM. The $10,000, four-year renewable scholarship is designed to honor the late Mary Székely, Progress co-founder and lead software engineer of more than 30 years. Eligible candidates are those who identify as women and are pursuing or planning to pursue an undergraduate degree in computer science, software engineering, IT, and/or computer information systems. The recipient will be chosen based on academic achievement, interest, and experience in the field, as well as personal attributes that exemplify Mary Székely’s most notable qualities. Applications are due on International Women’s Day, March 8, 2024.
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Progress Reports 2023 Fiscal Fourth Quarter and Year End Results

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Progress (NASDAQ: PRGS) reported strong financial results for the fourth quarter and fiscal year ended November 30, 2023. The company achieved a 13% increase in revenue, with non-GAAP revenue growing by 12% year-over-year. Annualized Recurring Revenue (ARR) increased by 17% year-over-year. However, diluted earnings per share decreased by 37% compared to the same quarter last year. The company's CEO and CFO expressed optimism about the future, highlighting the integration of MarkLogic and the positive outlook for fiscal 2024.
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Progress Named a Top Place to Work and 2023 DEI Champion by The Boston Globe

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Progress (PRGS) Earns 25 Accolades for Inclusion, Diversity, and CSR in 2023
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Progress Software to Report Fourth Quarter and Fiscal Year 2023 Financial Results on January 16, 2024

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Progress (Nasdaq: PRGS) to Release Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results on January 16, 2024
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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 $66.38 as of December 20, 2024.

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

The market cap of Progress Software (DE) (PRGS) is approximately 2.8B.

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

#1700 Ranked by Market Cap
#1802 Ranked by Dividends

PRGS Stock Data

2.83B
42.26M
1.47%
117.07%
11.36%
Software - Infrastructure
Services-prepackaged Software
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United States of America
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