Progress launches Data Cloud, a managed platform simplifying enterprise data and AI operations in the cloud.
Quiver AI Summary
Progress has announced the launch of Progress® Data Cloud℠, a managed Data Platform as a Service designed to streamline data and AI operations for enterprises in the cloud. This new offering aims to help organizations accelerate their digital transformation and AI initiatives by reducing operational complexity and IT overhead. Progress Data Cloud provides a unified, secure platform for building, managing, and deploying data architectures and AI projects, enabling businesses to harness their data for growth and innovation. Key features include simplified operations with continuous security, cost efficiency with transparent pricing, enhanced security compliance, and superior scalability and performance. It supports existing products like Progress® Semaphore™ and Progress® MarkLogic®, catering to the evolving needs of businesses as they invest in digital and AI strategies.
Potential Positives
- Launch of Progress Data Cloud provides enterprises with a managed Data Platform as a Service, simplifying data and AI operations in the cloud.
- Enables customers to accelerate digital transformation and AI initiatives while reducing operational complexity and IT overhead.
- Offers enhanced security with an enterprise-grade security model that is SOC 2 Type 1 compliant, reassuring clients about data protection.
- Progress Data Cloud supports scalability and superior performance, catering to mission-critical business operations and large-scale analytics needs.
Potential Negatives
- There is no mention of how Progress Data Cloud differentiates itself from competitors, which may indicate a lack of competitive advantage in a rapidly evolving market.
- The press release does not provide quantitative data or case studies to support the claims of reduced complexity and cost efficiency, potentially leaving stakeholders skeptical about the product's effectiveness.
- Replacing Semaphore Cloud with Progress Data Cloud may signal a discontinuation of support for existing Semaphore customers, which could lead to dissatisfaction amongst affected users.
FAQ
What is Progress Data Cloud?
Progress Data Cloud is a managed Data Platform as a Service designed to simplify enterprise data and AI operations in the cloud.
How does Progress Data Cloud enhance AI capabilities?
It provides a unified platform for managing data architectures and AI projects, accelerating digital transformation and AI initiatives for enterprises.
What are the key benefits of using Progress Data Cloud?
Key benefits include simplified operations, cost efficiency, enhanced security, scalability, and streamlined user management for data operations.
Who can benefit from Progress Data Cloud?
Both existing and new customers of Progress MarkLogic and Semaphore platforms can benefit from Progress Data Cloud's capabilities.
How does Progress Data Cloud improve operational costs?
It reduces IT costs with predictable pricing, resource usage transparency, and eliminates egress fees, thus streamlining budgeting and financial planning.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PRGS Insider Trading Activity
$PRGS insiders have traded $PRGS stock on the open market 11 times in the past 6 months. Of those trades, 0 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $PRGS stock by insiders over the last 6 months:
- YOGESH K GUPTA (Chief Executive Officer) sold 8,028 shares for an estimated $537,916
- ANTHONY FOLGER (Chief Financial Officer) has made 0 purchases and 2 sales selling 7,797 shares for an estimated $525,420.
- DOMENIC LOCOCO (Chief Accounting Officer) has made 0 purchases and 4 sales selling 6,386 shares for an estimated $407,058.
- IAN PITT (Chief Information Officer) sold 1,747 shares for an estimated $113,677
- LOREN JARRETT (EVP/GM Digital Experience) sold 1,666 shares for an estimated $106,574
- YUFAN STEPHANIE WANG (Chief Legal Officer) sold 1,428 shares for an estimated $93,177
- SUNDAR SUBRAMANIAN (EVP/GM Infrastructure Mgmt) sold 649 shares for an estimated $41,548
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PRGS Hedge Fund Activity
We have seen 152 institutional investors add shares of $PRGS stock to their portfolio, and 136 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PACER ADVISORS, INC. added 1,140,626 shares (+45918.9%) to their portfolio in Q4 2024, for an estimated $74,311,783
- LEUTHOLD GROUP, LLC added 371,026 shares (+958.1%) to their portfolio in Q3 2024, for an estimated $24,996,021
- BNP PARIBAS FINANCIAL MARKETS added 260,008 shares (+722.4%) to their portfolio in Q3 2024, for an estimated $17,516,738
- NOMURA HOLDINGS INC added 259,240 shares (+36.6%) to their portfolio in Q3 2024, for an estimated $17,464,998
- GOLDMAN SACHS GROUP INC added 256,481 shares (+222.1%) to their portfolio in Q3 2024, for an estimated $17,279,124
- SEGALL BRYANT & HAMILL, LLC added 251,125 shares (+74.2%) to their portfolio in Q3 2024, for an estimated $16,918,291
- MILLENNIUM MANAGEMENT LLC removed 225,161 shares (-94.9%) from their portfolio in Q3 2024, for an estimated $15,169,096
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BURLINGTON, Mass., Jan. 23, 2025 (GLOBE NEWSWIRE) -- New offering empowers enterprises to simplify data operations and enhance AI capabilities in the cloud
Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experiences and infrastructure software, today announced the launch of Progress® Data Cloud℠ , a managed Data Platform as a Service designed to simplify enterprise data and artificial intelligence (AI) operations in the cloud. With Progress Data Cloud, customers can accelerate their digital transformation and AI initiatives while reducing operational complexity and IT overhead.
As global businesses scale their data operations and embrace AI, a robust cloud data strategy has become the cornerstone of success, enabling organizations to harness the full potential of their data for innovation and growth. Progress Data Cloud meets this critical need by providing a unified, secure and scalable platform to build, manage and deploy data architectures and AI projects without the burden of managing IT infrastructure.
“Organizations increasingly recognize that cloud and AI are pivotal to unlocking business value at scale,” said John Ainsworth, GM and EVP, Application and Data Platform, Progress. “Progress Data Cloud empowers companies to achieve this by offering a seamless, end-to-end experience for data and AI operations, removing the barriers of infrastructure complexity while delivering exceptional performance, security and predictability.”
Key Features and Benefits
Progress Data Cloud is a Data Platform as a service that enables managed hosting of feature-complete instances of
Progress® Semaphore™
and
Progress® MarkLogic®
, with plans to support additional Progress products in the future. Core benefits include:
- Simplified Operations: Eliminates infrastructure complexity with always-on infrastructure management, monitoring service, continuous security scanning and automated product upgrades.
- Cost Efficiency: Reduces IT costs and bottlenecks with predictable pricing, resource usage transparency and no egress fees.
- Enhanced Security: Helps harden security posture with an enterprise-grade security model that is SOC 2 Type 1 compliant.
- Scalability and Performance: Offers superior availability and reliability, supporting mission-critical business operations, GenAI demands and large-scale analytics.
-
Streamlined User Management:
Self-service access controls and tenancy management provide better visibility and customization.
For MarkLogic customers:
Progress Data Cloud accelerates time to production by offering managed hosting for the Progress® MarkLogic® Server database and the Progress® MarkLogic® Data Hub solution with full feature parity. Customers can benefit from enhanced scalability, security and seamless deployment options.
For Semaphore customers:
Replacing Semaphore Cloud, Progress Data Cloud provides a next-generation cloud platform with all existing Semaphore functionality plus new features for improved performance, security, reliability, user management and SharePoint Online integration.
“As enterprises continue to invest in digital transformation and artificial intelligence strategies, the need for robust, scalable and secure data platforms becomes increasingly evident,” said Stewart Bond, Vice President, Data Intelligence and Integration Software, IDC. “Progress Data Cloud addresses a critical market need by simplifying data operations and accelerating the development of AI-powered solutions. Its capabilities, from seamless infrastructure management to enterprise-grade security, position it as a compelling choice for organizations looking to unlock the full potential of their data to drive innovation and business value.”
Progress Data Cloud is a cloud-based hosting of foundational products that make up the Progress Data Platform portfolio.
Progress Data Cloud is now available for existing and new customers of the MarkLogic and Semaphore platforms. For more information, visit https://www.progress.com/data-cloud .
About Progress
Progress
(Nasdaq: PRGS) empowers organizations to achieve transformational success in the face of disruptive change. Our software enables our customers to develop, deploy and manage responsible AI-powered applications and digital experiences with agility and ease. Customers get a trusted provider in Progress, with the products, expertise and vision they need to succeed. Over 4 million developers and technologists at hundreds of thousands of enterprises depend on Progress. Learn more at
www.progress.com
.
Progress, MarkLogic, Semaphore, and Progress Data Cloud are trademarks or registered trademarks of Progress Software Corporation and/or one of its subsidiaries or affiliates in the U.S. and other countries. Any other trademarks contained herein are the property of their respective owners.
Press Contacts:
Kim Baker
Progress
+1-800-477-6473
[email protected]