Progress Soft Stock Price, News & Analysis

Progress (NASDAQ: PRGS) reported strong fiscal 2020 results with revenue of $442.15 million, marking a 7% increase year-over-year. Fourth quarter revenue reached $122.4 million, up 5% compared to the previous year, with diluted earnings per share at $0.39, reversing a loss from last year. The acquisition of Chef Software enhances its position in the growing DevOps market. Looking ahead, the company projects FY 2021 revenue between $487 million and $495 million and expects diluted EPS of $1.40 to $1.46.

Progress (NASDAQ: PRGS) has opened applications for the 2021 Mary Székely Scholarship aimed at empowering women in STEM. This four-year, renewable scholarship awards $10,000 annually to eligible women pursuing degrees in computer science and related fields. Applications are accepted until March 5, 2021, with the scholarship managed by The Philanthropic Initiative. The initiative honors Mary Székely, co-founder of Progress and a pioneer for women in technology. The scholarship highlights Progress's commitment to diversity and fostering future leaders in STEM.

Progress announced that Goodbody, a leading Irish brokerage, has successfully implemented Progress® Sitefinity® Cloud to enhance customer engagement through digital transformation. This initiative led to a fourfold increase in account openings year-over-year. The deployment took only 15 business days, enabling Goodbody to launch new marketing campaigns efficiently. With features that eliminate infrastructure management, Sitefinity Cloud boosts productivity and supports growth plans, allowing firms to focus on core business operations.

Progress (NASDAQ: PRGS) will release its fiscal fourth quarter and 2020 financial results on January 14, 2021, after the market closes. The fiscal fourth quarter ended on November 30, 2020. A conference call to discuss these results is scheduled for 5:00 p.m. ET on the same day, accessible via their investor relations website or by phone. Progress is recognized for its comprehensive product stack that enhances productivity for technology teams and serves over 100,000 enterprise customers and a vast developer community.

Progress (NASDAQ: PRGS) has expanded its partnership with Ingram Micro to include the Iberian Peninsula, enhancing access to its IT management solutions, including Progress MOVEit and WhatsUp Gold. Ingram Micro, a major technology solutions provider, aims to deliver greater operational efficiency for businesses in Spain and Portugal. The partnership allows resellers to access secure file transfer and network monitoring solutions, with potential for further global reach in the future. This agreement follows Ingram Micro's previous expansions into the UK and Middle East.

Progress (NASDAQ: PRGS) announced that CEO Yogesh Gupta has been appointed Co-Chair of the MassTLC Board of Trustees for a two-year term. Gupta is recognized for his role in the Executive Diversity and Inclusion Steering Committee and the Tech Compact for Social Justice, which aims to enhance diversity in Massachusetts' tech sector. Over 90 organizations have joined this initiative, making over 420 commitments to promote inclusion. Gupta emphasized his commitment to innovation and diversity within the tech community as he takes on this leadership role.

Progress (NASDAQ: PRGS) announced the R3 2020 release of Test Studio, enhancing its .NET test automation platform. Key features include a redesigned Test Recorder UI that improves user experience and new support for Telerik UI for Blazor components. The updates aim to streamline software delivery for enterprises amidst modern agile and DevOps practices. The enhanced coding capabilities facilitate the combination of codeless tests with coded steps, promoting efficiency in automated testing workflows.