Progress Soft Stock Price, News & Analysis

Progress (NASDAQ: PRGS) announced the winners of its 10th annual Sitefinity Website of the Year Awards, recognizing exceptional digital experiences amid pandemic challenges. Winners were evaluated across criteria like visual design and innovation, with over 5,600 public votes cast. Highlights include:

• World Health Organization saw a 600% increase in site traffic.
• Osborne Quality Seeds achieved an 800% increase in Cyber Monday sales.
• Tom Tailor out-earned brick-and-mortar stores by 10% daily.

The awards celebrate organizations' ability to adapt and innovate in their digital strategies.

Progress (NASDAQ: PRGS) announced that CEO Yogesh Gupta will present and hold one-on-one investor meetings at the 16th Annual Needham Technology & Media Conference on May 17, 2021, from 11:00 to 11:40 a.m. ET. The conference, taking place virtually from May 17-20, will feature over 350 public and private companies. Gupta will update on market drivers for Progress during his session. Interested parties can schedule meetings through Needham representatives or the conference coordinator.

Progress (NASDAQ: PRGS) has announced the release of Kendo UI R2 2021, expanding its JavaScript UI components library with over 100 native Angular components and 60 enhancements. This update includes new components such as BottomNavigation and MultiSelectTree, enhancing user engagement and performance. Additionally, updates for KendoReact, Kendo UI for jQuery, and Kendo UI for Vue aim to streamline app development and accessibility features. The release reaffirms Progress's commitment to developers, providing tools to create high-impact business applications efficiently.

Progress (NASDAQ: PRGS) announced the R2 2021 release of its Telerik developer tools, enhancing UI capabilities for Blazor and WinUI. The update introduces over 75 native components for Blazor, making it the largest UI library for this framework. The WinUI component library is also expanded with popular controls, boosting the development of modern Windows apps. Additionally, new features for Telerik Reporting include a Blazor Report Designer. This release supports the upcoming .NET 6, expected in November 2021, facilitating improved application development.

Progress (NASDAQ: PRGS) has introduced MOVEit 2021, a secure Managed File Transfer (MFT) software designed for both on-premises and cloud deployment. This release includes critical enhancements focused on security, usability, and integration, such as data encryption key rotation, multi-factor authentication, and improved REST API capabilities. In response to the shift towards hybrid work models, these features aim to facilitate secure file sharing in a changing business landscape. MOVEit 2021 is now available for customers looking to enhance their data transfer security.

Progress (NASDAQ: PRGS) recently announced that its network monitoring software, WhatsUp Gold, has been recognized as a Leader in G2’s Winter 2021 Grid Report for Network Management, ranking first among 18 vendors. The software has garnered multiple accolades, including a 89% ROI within 12 months and rankings in various reports. Notably, it ranked third in the Mid-Market Grid for Network Monitoring and sixth in the general Grid report. This recognition underscores Progress's commitment to enhancing customer value and ensuring robust IT infrastructure management.

Progress Software Corporation (NASDAQ: PRGS) has priced its private offering of $325 million of 1.00% Convertible Senior Notes due 2026. The offering size increased from $300 million, with an option for initial purchasers to buy an additional $50 million. The Notes will bear interest at 1.00%, payable semi-annually, and have an initial conversion rate of 17.4525 shares per $1,000 principal. Proceeds are estimated at $316.1 million and will fund share repurchases and acquisitions. The Notes will close on April 13, 2021.

Progress Software, trading as PRGS, announced a $300 million offering of Convertible Senior Notes due 2026, aimed at qualified institutional buyers. An additional $45 million may be offered. The notes are unsecured and will mature on April 15, 2026, with conversion options including cash and stock. Proceeds will fund capped call transactions, stock repurchases of up to $20 million, and general corporate purposes. The offering is subject to market conditions, and the notes have not been registered under U.S. securities laws.