Progress Software Corporation develops business applications. The company operates through three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; MOVEit that provides secure collaboration and automated file transfers of critical business information; and WhatsUp Gold, a network monitoring solution. The Data Connectivity and Integration segment provides Progress DataDirect Connect, which offers data connectivity using industry-standard interfaces to connect applications running on various platforms; and Progress DataDirect Hybrid Data Pipeline, a data access service that provides cloud and on-premises data sources for hybrid cloud applications, such as customer resource management, data management platforms, or hosted analytics. The Application Development and Deployment segment offers Developer Tools, a set of components for user interface development; and Sitefinity, a web content management and customer analytics platform. The company also provides project management, implementation, custom development, programming, and other services, as well as services to web-enable applications; and training services. It sells its products to end users, independent software vendors, original equipment manufacturers, and system integrators. The company has operations in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Progress Software Corporation was founded in 1981 and is headquartered in Bedford, Massachusetts.
IPO Year: 1991
Exchange: NASDAQ
Website: progress.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/28/2024 | $65.00 | Buy | DA Davidson |
| 1/24/2023 | $60.00 | Buy | Guggenheim |
| 9/9/2022 | $52.00 | Hold | Jefferies |
| 8/12/2022 | $60.00 | Buy | Guggenheim |
| 10/22/2021 | $60.00 | Overweight | JP Morgan |
| 8/6/2021 | $48.00 | Neutral | Citigroup |
| 7/15/2021 | $54.00 | Outperform | Oppenheimer |
DA Davidson initiated coverage of Progress Software with a rating of Buy and set a new price target of $65.00
Guggenheim resumed coverage of Progress Software with a rating of Buy and set a new price target of $60.00
Jefferies initiated coverage of Progress Software with a rating of Hold and set a new price target of $52.00
Guggenheim initiated coverage of Progress Software with a rating of Buy and set a new price target of $60.00
JP Morgan initiated coverage of Progress Software with a rating of Overweight and set a new price target of $60.00
Citigroup initiated coverage of Progress Software with a rating of Neutral and set a new price target of $48.00
Oppenheimer initiated coverage of Progress Software with a rating of Outperform and set a new price target of $54.00
Guggenheim initiated coverage of Progress Software with a rating of Buy and set a new price target of $56.00
4 - PROGRESS SOFTWARE CORP /MA (0000876167) (Issuer)
4 - PROGRESS SOFTWARE CORP /MA (0000876167) (Issuer)
4 - PROGRESS SOFTWARE CORP /MA (0000876167) (Issuer)
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4 - PROGRESS SOFTWARE CORP /MA (0000876167) (Issuer)
4 - PROGRESS SOFTWARE CORP /MA (0000876167) (Issuer)
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Senior engineering leader to oversee Company's AI strategy and continued rapid development of AI-powered solutions across the global Progress product portfolio BURLINGTON, Mass., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the appointment of Ed Keisling as the Company's Chief AI Officer (CAIO). In this newly created role, Keisling will be responsible for leading the AI strategy for Progress and for further transforming the Company's product portfolio to support customers with their AI journeys. He will report directly to Progress CEO Yogesh Gupta. "Ed is a transformational tec
Leadership Transition in Conjunction with Closing of Majority Recapitalization by Haveli Investments, Bregal Milestone and CrossParadigm Capital M-Files, the leader in knowledge work automation, today announced the appointment of industry veteran Jay Bhatt as CEO. Bhatt joins M-Files with an extensive history of operational excellence and a proven track record of helping software businesses scale, develop powerful go-to-market capabilities, and achieve best-in-class service and support while also investing in product innovation. Bhatt previously served as CEO of both private and public software companies, including Alfresco Software, Blackboard, and Progress Software (NASDAQ:PRGS), and pr
Accomplished industry leader with proven track record in developing people strategies and creating impactful employee experiences for global multi-billion-dollar organizations to enhance award-winning best employer BURLINGTON, Mass., Oct. 28, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered infrastructure software, today announced the appointment of Amanda Arria as Chief People Officer (CPO), effective October 28, 2024. In her new role, Arria will be responsible for all aspects of Progress' global People Team function. She joins the Progress executive team, reporting directly to CEO Yogesh Gupta. "Amanda Arria is an exceptional Human Resources professio
BURLINGTON, Mass., Sept. 26, 2022 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of infrastructure software, today announced the appointment of YuFan Stephanie Wang (Stephanie) to the role of Executive Vice President (EVP), Chief Legal Officer (CLO) and Secretary. In this role, Stephanie will oversee all aspects of Progress' legal, compliance and corporate governance efforts. "We are thrilled to have Stephanie in the role of Chief Legal Officer," said Yogesh Gupta, CEO, Progress. "In the short time she's been with Progress, Stephanie has made a significant impact in the areas of corporate governance, M&A efforts related to Total Growth Strategy, our ESG efforts, and more
30+ Year Industry Veteran to Steer Company's IT Vision, including Security Best Practices and M&A Integration BEDFORD, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced the appointment of Ian Pitt as its new Chief Information Officer (CIO). With more than 30 years of information technology leadership experience, Mr. Pitt will be responsible for driving the vision, strategy and operations of Progress' global IT organization. He will also lead Progress' ongoing efforts to safeguard its networks, infrastructure, business applications and products with best-in-cla
New hire to champion company's inclusion, equity and diversity practices as part of its larger corporate social responsibility program, Progress for Tomorrow BEDFORD, Mass., June 14, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced that it has hired Dr. Shirley Knowles as its first Chief Inclusion and Diversity Officer. Dr. Knowles will be responsible for leading Progress' inclusion and diversity initiatives designed to build, foster and grow a culture where all employees feel valued, safe and successful. "Many companies have worked hard to ensure their inclusion, equity and
Solid Execution Drove Growth and Operating LeverageAcquisition of Chef Bolsters Position in DevOps Market and Drives Fiscal 2021 Revenue Growth BEDFORD, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced results for its fiscal fourth quarter and fiscal year ended November 30, 2020. Fourth Quarter 2020 Highlights: Revenue of $122.4 million increased 5% year-over-year on an actual currency basis, and 4% on a constant currency basis.Non-GAAP revenue of $129.1 million increased 5% on an actual currency basis, and 4% constant currency basis.Operating margin w
Visionary CEO recognized for bold leadership, strategic growth, accelerated AI innovation and long-term stakeholder value creation BURLINGTON, Mass., June 18, 2025 (GLOBE NEWSWIRE) -- Progress Software (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that CEO Yogesh Gupta has been named an Entrepreneur Of The Year® 2025 New England Award winner by Ernst & Young LLP (EY US). The prestigious program recognizes visionary leaders of companies who are driving innovation, accelerating growth and creating lasting impact for future generations. Since joining Progress in 2016, Gupta has driven significant growth and transformation a
BURLINGTON, Mass., June 16, 2025 (GLOBE NEWSWIRE) -- Progress Software (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that it will release financial results for its fiscal second quarter of 2025 after the market close on Monday, June 30, 2025. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. The company's second quarter of fiscal year 2025 ended on May 31, 2025. Conference Call DetailsA live webcast of the call will be available using this link. To access the conference call by phone, please use this link to retrieve dial-in details. To avoid delays, we encourage partici
AI-powered document insights, client mobile app and unified client hub help firms work faster and better BURLINGTON, Mass., June 05, 2025 (GLOBE NEWSWIRE) -- Progress Software (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced significant new enhancements to Progress® ShareFile®, its SaaS-native document-based collaboration and client workflow product. Designed for accounting professionals, these enhancements cut friction, elevate client interactions and give firms a competitive edge. With staffing shortages and client expectations on the rise, many accounting firms are struggling to keep pace, especially when administrative
BURLINGTON, Mass., June 04, 2025 (GLOBE NEWSWIRE) -- Progress Software (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the Q2 2025 release of Progress® Telerik® and Progress® Kendo UI®, the most powerful .NET and JavaScript UI libraries for modern application development. This release introduces a number of groundbreaking AI capabilities that significantly accelerate development workflows, including AI Coding Assistants for Blazor and React, AI-driven theme generation and GenAI-powered reporting insights. "We are excited to empower our customers with advanced AI Coding Assistants built right into the tools that they know
ShareFile AI-powered, document workflow and file sharing platform with enhanced security offers industry-leading deep Microsoft 365 integration and features for enterprise teams BURLINGTON, Mass., May 20, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that Progress® ShareFile® is now deeply integrated with Microsoft 365. This product advancement strengthens the platform's integration with Microsoft 365 by delivering seamless, secure coauthoring and optimized file collaboration across Office for the web, desktop and mobile—helping enterprises streamline complex workflows while unlocking im
Prestigious honor recognizes Egan's outstanding contributions to corporate governance and board leadership BURLINGTON, Mass., April 24, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that its Board Chair, John R. "Jack" Egan, has been honored with the Leadership in Corporate Governance Award by the National Association of Corporate Directors New England Chapter (NACDNE). This distinguished recognition highlights Egan's exceptional leadership, dedication to corporate governance excellence and commitment to fostering strong, responsible board practices. A highly respected leader in the bu
BURLINGTON, Mass., April 10, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the latest AI innovations in Progress® Sitefinity® content management platform. These enhancements empower marketers to create, manage and optimize content more efficiently, delivering faster, easily personalized digital experiences across multiple touchpoints. With new AI-powered media search, advanced translation capabilities and intelligent content optimization, Sitefinity helps organizations streamline workflows, improve accuracy and enhance engagement—meeting the growing demands of an AI-driven marketplace. "
Advanced capabilities strengthen data security, streamline workflows and accelerate document collection by nearly 3.5x BURLINGTON, Mass., April 02, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced purpose-built AI in Progress® ShareFile®, the SaaS-native document collaboration platform. Designed to enhance efficiency and strengthen data security, these features empower businesses to optimize workflows and boost productivity so they can accomplish far more with existing staff. The ShareFile platform uses AI for powerful, purpose-built features, turbo-charging existing document-centric workfl
Managed file transfer solution recognized for excellence based on user reviews BURLINGTON, Mass., April 01, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that its Progress® MOVEit® managed file transfer (MFT) software has been recognized with a 2025 Best Software Award from G2 in the Best IT Infrastructure Products category. Out of 6,562 total products in this category, and 1,856 eligible for the 2025 awards, MOVEit was one of only 13 products to retain a spot on the list from last year, highlighting its continued leadership in the MFT and IT infrastructure sectors. The G2 Best Software
Annualized Recurring Revenue ("ARR") of $836 million Grew 48% year-over-yearRevenue of $238 million Grew 29% year-over-yearShareFile Integration Underway BURLINGTON, Mass., March 31, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced financial results for its fiscal first quarter ended February 28, 2025. First Quarter 2025 Highlights: Revenue and non-GAAP revenue of $238 million increased 29% year-over-year on an actual and 30% on a constant currency basis.Annualized Recurring Revenue ("ARR") of $836 million increased 48% year-over-year on a constant currency basis.Operating margin was 14% a
BURLINGTON, Mass., June 16, 2025 (GLOBE NEWSWIRE) -- Progress Software (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that it will release financial results for its fiscal second quarter of 2025 after the market close on Monday, June 30, 2025. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. The company's second quarter of fiscal year 2025 ended on May 31, 2025. Conference Call DetailsA live webcast of the call will be available using this link. To access the conference call by phone, please use this link to retrieve dial-in details. To avoid delays, we encourage partici
Annualized Recurring Revenue ("ARR") of $836 million Grew 48% year-over-yearRevenue of $238 million Grew 29% year-over-yearShareFile Integration Underway BURLINGTON, Mass., March 31, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced financial results for its fiscal first quarter ended February 28, 2025. First Quarter 2025 Highlights: Revenue and non-GAAP revenue of $238 million increased 29% year-over-year on an actual and 30% on a constant currency basis.Annualized Recurring Revenue ("ARR") of $836 million increased 48% year-over-year on a constant currency basis.Operating margin was 14% a
BURLINGTON, Mass.,, March 17, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced that it will release financial results for its fiscal first quarter of 2025 after the market close on Monday, March 31, 2025. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. The company's first quarter of fiscal year 2025 ended on February 28, 2025. Conference Call DetailsA live webcast of the call will be available using this link. To access the conference call by phone, please use this link to retrieve dial-in details. To avoid delays, we encourage participan
Annualized Recurring Revenue grew 46% year-over-year2024 Cash Flow from Operations $212 million vs. $174 million last year, 22% growthShareFile Integration Underway BURLINGTON, Mass., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experiences and infrastructure software, today announced financial results for its fiscal fourth quarter and fiscal year ended November 30, 2024. Fourth Quarter 2024 Highlights¹: Revenue and non-GAAP revenue of $215 million increased 21% year-over-year both on an actual and a constant currency basis. Annualized Recurring Revenue ("ARR") of $842 million increased 46%
BURLINGTON, Mass., Jan. 07, 2025 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered digital experiences and infrastructure software, today announced that it will release financial results for its fiscal fourth quarter and fiscal year 2024 after the market close on Tuesday, January 21, 2025. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. The company's fiscal year ended on November 30, 2024. Conference Call DetailsA live webcast of the call will be available using this link. To access the conference call by phone, please use this link to retrieve dial-in details. To avoid delays, we encourage participants
Progress Q3'24 Tops High End of EstimatesExpects to Close ShareFile Acquisition in Fiscal 2024 BURLINGTON, Mass., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered infrastructure software, today announced financial results for its fiscal third quarter ended August 31, 2024. Third Quarter 2024 Highlights1: Revenue and non-GAAP revenue of $179 million increased 2% year-over-year on both an actual and a constant currency basis.Annualized Recurring Revenue ("ARR") of $582 million remained relatively flat year-over-year on a constant currency basis.Operating margin was 23% and non-GAAP operating margin was 41%.Diluted earnings per share was $0.65 c
BURLINGTON, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered infrastructure software, today announced that it will release financial results for its fiscal third quarter of 2024 after the market close on Tuesday, September 24, 2024. The company's third quarter of fiscal year 2024 ended on August 31, 2024. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. Conference Call DetailsA live webcast of the conference call will be available here. The webcast will be listen-only, and a replay will be available shortly after the call concludes. To access the conference call by phone, please use t
BURLINGTON, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered infrastructure software, today announced it has entered into a definitive agreement to acquire ShareFile, a business unit of Cloud Software Group, Inc., providing SaaS-native, AI-powered, document-centric collaboration, focusing on industry segments including business and professional services, financial services, healthcare and construction. "Businesses today need to enhance their effectiveness in serving customers, while continuously streamlining their operations to drive efficiency, security and compliance," said Yogesh Gupta, CEO of Progress. "ShareFile fits strategic
Second Quarter Revenues and Earnings Per Share Ahead of GuidanceRaising Full Year Revenue and Earnings Per Share Outlook BURLINGTON, Mass., June 25, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of AI-powered infrastructure software, today announced financial results for its fiscal second quarter ended May 31, 2024. Second Quarter 2024 Highlights1: Revenue and non-GAAP revenue of $175 million decreased 2% year-over-year on both an actual and a constant currency basis.Annualized Recurring Revenue ("ARR") of $579 million increased 1% year-over-year on a constant currency basis.Operating margin was 16% and non-GAAP operating margin was 38%.Diluted earnings per share
BURLINGTON, Mass., June 11, 2024 (GLOBE NEWSWIRE) -- Progress (NASDAQ:PRGS), the trusted provider of infrastructure software, today announced that it will release financial results for its fiscal second quarter of 2024 after the market close on Tuesday, June 25, 2024. The company's second quarter of fiscal year 2024 ended on May 31, 2024. Progress will host a conference call to review and discuss the results at 5:00 p.m. ET the same day. Conference Call DetailsA live webcast of the conference call will be available here. The webcast will be listen-only, and a replay will be available shortly after the call concludes. To access the conference call by phone, please use this li
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