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Progress Software Corp (PRGS.OQ)

PRGS.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Praesidium Investment Management LLC says delivered letter & presentation to Progress Software’S board
Friday, 15 Sep 2017 08:57am EDT 

Sept 15 (Reuters) - Progress Software Corp :Praesidium Investment Management Co LLC - on September 15, delivered letter and presentation to progress software’s board - SEC Filing.Praesidium Investment Management Company says on behalf of its clients owns about 8.8 percent of outstanding shares of Progress Software Corp‍​.‍praesidium Investment Management says demand that Progress Software's Jack Egan agrees to resign immediately as chairman of the board.Praesidium Investment - demand Progress Software's board add 5 new board members; 3 of these include John Shackleton, Mark Fusco, Russ Stuebing.‍praesidium Investment Management says demand that Progress Software's board immediately cease current deal strategy directed by CEO Yogesh gupta, board.Praesidium Investment- 5 new members for Progress Software's board should include a praesidium representative, 1 individual to be identified by Praesidium.  Full Article

Progress Software ‍expects Q3 adj. EPS $0.23
Tuesday, 12 Sep 2017 07:45am EDT 

Sept 12 (Reuters) - Progress Software Corp :Progress Software announces preliminary financial results for fiscal Q3 2017; better-than-expected Q3 revenues and diluted earnings per share; board of directors raises quarterly dividend 12%.Increases quarterly cash dividend by 12 percent.Sets quarterly cash dividend of $0.14per share.Progress Software Corp - ‍ expects to report diluted earnings per share $0.23 for Q3 2017​.Progress Software Corp - ‍ expects to report GAAP revenue $97.3 million and non-GAAP revenue of $97.6 million for Q3 2017​.Progress Software Corp - ‍ expects to report Q3 2017 non-GAAP diluted earnings per share $0.48​.Progress Software Corp - ‍board of directors also set a target dividend payout ratio of between 25-30 pct of company's annual cash flow from operations​.Q3 earnings per share view $0.43, revenue view $96.0 million -- Thomson Reuters I/B/E/S.Progress Software - ‍evaluated praesidium's idea of potential acquisition of "unrelated third party" but concluded it was not in best interests of co.Progress Software-nominating and corporate governance committe to consider individuals suggested praesidium, other individuals when evaluating future changes​.  Full Article

Praesidium says met with Progress Software board to discuss ideas to "enhance shareholder value‍"
Wednesday, 2 Aug 2017 05:57pm EDT 

Aug 2 (Reuters) - Praesidium Investment Management::Praesidium Investment Management-on July 31, met with Progress Software board to discuss ideas for board to consider ways to "enhance shareholder value‍".Praesidium Investment Management - ideas include internal initiatives, considering potential acquisition with unrelated third party - SEC filing.  Full Article

Progress Software reports Q2 adjusted earnings per share $0.42
Wednesday, 28 Jun 2017 04:15pm EDT 

June 28 (Reuters) - Progress Software Corp ::Progress reports 2017 fiscal second quarter results.Q2 earnings per share $0.21.Q2 earnings per share view $0.37 -- Thomson Reuters I/B/E/S.Q2 revenue $93.4 million versus I/B/E/S view $91.5 million.Sees FY 2017 gaap revenue $390 million - $395 million.Sees FY 2017 gaap diluted earnings per share $0.66 - $0.73.Sees FY 2017 non-gaap revenue $391 million - $396 million.Progress Software Corp - sees FY gaap adjusted free cash flow $86 million- $91 million.Sees FY 2017 non-gaap diluted earnings per share $1.73 - $1.78.Progress Software Corp - sees FY non gaap adjusted free cash flow $100 million - $105 million.Sees Q3 2017 gaap revenue and non-gaap revenue $93 million - $96 million.FY 2017 earnings per share view $1.68 -- Thomson Reuters I/B/E/S.Sees Q3 2017 gaap diluted earnings per share $0.17 - $0.19.FY 2017 revenue view $392.5 million -- Thomson Reuters I/B/E/S.Sees Q3 2017 non-gaap diluted earnings per share $0.41 - $0.43.Q3 revenue view $97.0 million -- Thomson Reuters I/B/E/S.Q2 adjusted earnings per share $0.42.  Full Article

Progress acquires Kinvey for $49 million in cash
Wednesday, 28 Jun 2017 04:10pm EDT 

June 28 (Reuters) - Progress Software Corp ::Progress acquires Kinvey, the leader in backend as a service (baas) technology.Progress Software Corp - deal for $49 million in cash..  Full Article

Praesidium Investment Management expects to continue to engage in communications with Progress Software's officers, board concerning specific initiatives
Wednesday, 29 Mar 2017 05:23pm EDT 

Progress Software Corp :Praesidium Investment Management Co-expects to continue to engage in communications with Progress Software's officers, board concerning specific initiatives, including strategic acquisitions.  Full Article

Progress reports 2017 fiscal first quarter results
Wednesday, 29 Mar 2017 04:15pm EDT 

Progress Software Corp - : Progress reports 2017 fiscal first quarter results . Q1 loss per share $0.01 . Q1 earnings per share view $0.26 -- Thomson Reuters I/B/E/S . Q1 revenue $91.2 million versus I/B/E/S view $87.5 million . Qtrly non-gaap earnings per share $0.34 . Sees fy 2017 gaap revenue $387 million - $395 million . Sees fy 2017 non-gaap revenue $388 million - $396 million . Sees fy 2017 gaap earnings per share $0.64 - $0.70; non-gaap earnings per share $1.64 - $1.69 . Sees q2 gaap earnings per share $0.13 - $0.15; non-gaap earnings per share $0.35 - $0.37 . Sees q2 revenue $89 million - $92 million . Q2 earnings per share view $0.37, revenue view $93.1 million -- Thomson Reuters I/B/E/S .Fy2017 earnings per share view $1.65, revenue view $391.2 million -- Thomson Reuters I/B/E/S.  Full Article

Progress acquires DataRPM, the best-of-breed machine learning company focused on cognitive predictive maintenance
Wednesday, 29 Mar 2017 04:10pm EDT 

Progress Software Corp : Progress acquires DataRPM, the best-of-breed machine learning company focused on cognitive predictive maintenance . Progress Software Corp - Progress acquired DataRPM for a purchase price of $30 million, .Progress Software - Purchase price consists of $28.3 million paid in cash, and $1.7 million payable to DataRPM's founders in form of restricted progress stock.  Full Article

Progress appoints Paul Jalbert as chief financial officer
Wednesday, 29 Mar 2017 04:05pm EDT 

Progress Software Corp : Progress announces appointment of Paul Jalbert as chief financial officer . Says Paul Jalbert appointed CFO .Progress Software Corp - Jalbert replaces Kurt Abkemeier.  Full Article

Progress reports 2016 fiscal fourth quarter and year end results
Monday, 16 Jan 2017 06:00pm EST 

Progress Software Corp : Progress reports 2016 fiscal fourth quarter and year end results . Q4 non-GAAP earnings per share $0.62 . Q4 earnings per share view $0.56 -- Thomson Reuters I/B/E/S . Q4 revenue $118 million versus I/B/E/S view $123.5 million . Progress Software says will discontinue investment in digital factory offering, will re-align its resources consistent with its core operating approach . Progress Software says will implement restructuring efforts that will include consolidating facilities, implementing a simplified organizational structure . Progress Software says will implement restructuring efforts that will reducing marketing and other external expenses . Progress Software says intends to reduce headcount by approximately 450 employees, totaling over 20% of company's workforce . Progress Software says initial headcount reductions will begin in fiscal Q1 of 2017 and should be substantially completed by end of fiscal Q2 of 2017 . Progress Software says after investments in new product strategy, progress expects to reduce net annual run-rate costs by about $20 million by end of fy 2017 . Progress Software says Jerry Rulli, Progress' chief operating officer, will be leaving company at end of fiscal Q1 of 2017 . Qtrly GAAP diluted loss per share $1.52 . Progress Software says sees fy 2017 non-GAAP earnings per share $1.64 - $1.69; non-GAAP revenue $388 million - $396 million . Sees Q1 2017 GAAP revenue $86 - $89 million.  Full Article

Progress Software rejects activist investor's demands

Progress Software Corp on Tuesday rejected calls by activist investor Praesidium Investment Management to change its acquisition strategy and replace the chairman of its board.