Progress Software Corporation (PRGS)

In October 2025, Progress Software launched Automate MFT and expanded its presence in Costa Rica; Citigroup upgraded the stock to a "buy" rating, while Jefferies Financial Group decreased its target price and Weiss Ratings downgraded the stock to "sell". In September 2025, Progress Software announced strong third-quarter financial results, introduced Progress Agentic RAG, expanded AI Coding Assistants, and brought GenAI and RAG capabilities to OpenEdge customers; DA Davidson reiterated a "buy" rating. In August 2025, Progress Software announced new AI-powered features in Sitefinity and the general availability of MarkLogic Server 12. In June 2025, Progress Software released Semaphore 5.10.1.

The provided search results do not contain explicit information about the demand seasonality for Progress Software Corp.'s products and services. However, the company's strong annualized recurring revenue (ARR) growth and continuous introduction of new AI features and product enhancements indicates a consistent demand rather than significant seasonality.

Progress Software Corporation specializes in developing, deploying, and managing AI-powered applications and digital experiences, operating in the Technology sector, specifically in the Software - Infrastructure industry. The company offers solutions for software development, data management, and IT infrastructure, including products like Chef, Corticon, DataDirect, Developer Tools, Flowmon, Kemp LoadMaster, MarkLogic, MOVEit, OpenEdge, Semaphore, ShareFile, Sitefinity, and WhatsUp Gold. Additionally, Progress Software provides services such as application modernization, infrastructure automation, development operations, data management, managed database services, performance enhancements and tuning, and analytics/business intelligence services.

Progress Software Corporation operates globally, with its headquarters in Burlington, Massachusetts, U.S., and offices in 16 countries. It serves customers in North America, Latin America, Europe, the Middle East and Africa (EMEA), and the Asia Pacific region. In October 2025, Progress Software expanded its presence in Costa Rica with a new Center of Excellence in Heredia, doubling its local workforce to enhance customer success, technical support, sales, human resources, and operations, particularly for customers in the Caribbean and Latin America (CALA) region.

Progress Software's brand reputation was negatively impacted by a security vulnerability in its MOVEit managed file transfer software, which led to a data breach affecting over 2,500 organizations in 2023. Despite this, the company has been actively working to enhance its brand and product offerings, particularly in AI, and was recognized as a leader in Info-Tech Research Group's 2024 Metadata Management Data Quadrant for its Semaphore platform. Recent product launches and updates demonstrate the company's commitment to innovation.

As of June 2025, institutional investors collectively held 215.7% of Progress Software Corp.'s total shares outstanding, a significant increase from 116.4% in March 2025, with 343 institutions reporting a stake in the company. Major institutional owners include DLD Asset Management, LP, BlackRock, Inc., VANGUARD GROUP INC, Boston Trust Walden Corp, and STATE STREET CORP. Other institutional investors have recently modified their holdings, and company insiders own a portion of the stock.