Welcome to our dedicated page for Progress Soft news (Ticker: PRGS), a resource for investors and traders seeking the latest updates and insights on Progress Soft stock.
Progress Software Corp. (PRGS) provides AI-powered digital experience and infrastructure software used to develop, deploy and manage applications, content, data movement and network operations. Its product portfolio spans Sitefinity, ShareFile, MOVEit, OpenEdge, Chef, Kemp LoadMaster, MarkLogic, DataDirect, Corticon, Flowmon and WhatsUp Gold, covering areas such as content management, document collaboration, managed file transfer, DevOps automation, application development, data connectivity and network security.
Company news commonly covers quarterly financial results, product releases, AI capabilities, security and compliance features, and global workforce operations. Recent recurring themes include Sitefinity Generative CMS, ShareFile document workflows, expansion of engineering and customer operations in India, corporate social responsibility reporting and STEM scholarship initiatives.
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Progress (NASDAQ: PRGS) reported strong Q3 2021 results, with revenue of $147.4 million, up 34% year-over-year, and non-GAAP revenue reaching $152.6 million, reflecting a 38% increase. Diluted earnings per share rose to $0.70 from $0.53, marking a 32% growth. The company also signed an agreement to acquire Kemp for $258 million. Progress raised its full-year revenue guidance to $520 - $524 million and EPS to $1.56 - $1.58, showcasing confidence in its growth strategy.
Progress (NASDAQ: PRGS) announced the acquisition of Kemp for $258 million in cash, expected to close in October 2021. The acquisition aims to enhance Progress' offerings in Application Experience Management by integrating Kemp's solutions, known for optimizing application performance across cloud environments. This strategic move is set to boost recurring revenue, increase cash flow, and create shareholder value. The deal aligns with Progress' total growth strategy, emphasizing complementary technologies and robust customer bases.
Progress (NASDAQ: PRGS) has released an updated version of its network monitoring software, WhatsUp Gold, which features enhanced usability and security improvements. Key updates include log management archiving, allowing businesses to adhere to compliance requirements and improve security audits, and support for OpenID Connect for user authentication across applications. Additionally, the software now supports Cisco Meraki devices and Microsoft Edge, addressing the needs of modern network administrators. These enhancements aim to optimize network monitoring and reduce troubleshooting times.
Progress (NASDAQ: PRGS) announced the R3 2021 release, enhancing their Telerik and Kendo UI product lines with over 50 new UI components and features. Key updates include more than 85 components for Blazor, new Telerik UI for MAUI, and multiple enhancements for WinUI. The Telerik and Kendo UI Kits for Figma aim to streamline collaboration between designers and developers. Enhanced support for .NET 6 is also included. The release is designed to help developers create applications faster and more efficiently.
Progress (NASDAQ: PRGS) announced the launch of Sitefinity DX 14.0, a digital experience platform that enhances multichannel content, integration, and analytics capabilities. This new platform supports low-code integration and chat-driven engagement, allowing organizations to craft tailored digital experiences. Recent research revealed that 35% of businesses have yet to adopt a DXP due to complexity and cost. Sitefinity DX 14.0 aims to simplify these challenges, enabling data-driven marketing and efficient content delivery, while recently being recognized as a leader in the digital experience platform space.
Progress (NASDAQ: PRGS) announced its upcoming financial results for the fiscal third quarter on September 23, 2021, after market close. This quarter ended August 31, 2021. A conference call to discuss the results will begin at 5:00 PM ET the same day. Interested investors can access the call via the investor relations website or by dialing in. The company emphasizes its role as a provider of critical business application products, serving over 100,000 enterprise customers and a vast developer community.
Progress (NASDAQ: PRGS) announced the winners of the 2021 Chef Awards during ChefConf 2021, recognizing excellence in DevOps. SAP received the Continuous Compliance Champion award for using Chef InSpec to ensure security compliance across cloud environments. Bluestem Brands was honored as the Continuous Delivery Trailblazer for integrating Chef in their CI/CD pipelines. AHEAD was named Partner of the Year for its DevSecOps solutions. The event gathered over 2,000 DevOps professionals, highlighting community contributions and innovations in the field.
Progress (NASDAQ: PRGS) has enhanced its Chef portfolio to support multi-cloud compliance and operator productivity, facilitating DevOps acceleration. New features include automation for cloud resources across AWS, Azure, and GCP, improved integration for operator productivity, and SaaS-based access to Chef products. Sundar Subramanian emphasized the importance of a DevSecOps approach for secure delivery. These updates aim to simplify the adoption of DevSecOps practices, responding to increasing organizational needs for security and compliance automation in cloud environments.
Progress (NASDAQ: PRGS) announced its 10th annual ChefConf, to be held virtually on September 7-9, 2021. The conference will unite industry leaders and DevOps professionals to discuss advancements in DevOps and DevSecOps. Notable speakers include experts from Google, Netflix, SAP, and UBS. The event aims to enhance skills and foster innovation in the DevOps space, featuring keynotes, workshops, and networking opportunities. Attendees will delve into topics such as infrastructure compliance and automation, helping them navigate the evolving landscape of technology.