Progress Software Launches Automate MFT: A Modern SaaS Solution for Secure File Transfer Automation

Progress Software launches Automate MFT, a cloud-native SaaS solution enhancing secure file transfer automation and compliance.

Quiver AI Summary

Progress Software has launched Progress® Automate MFT, a new Software-as-a-Service (SaaS) solution designed to transform secure file transfer automation for modern enterprises. This platform aims to address the challenges faced by IT teams as they manage sensitive data, outdated infrastructure, and compliance requirements. Automate MFT minimizes the need for manual processes and scripting, promising a significant reduction in total cost of ownership—up to 50%—compared to traditional systems. Key features include a no-code automation builder, shared credential libraries, and enhanced security measures that meet regulatory standards. The solution is expected to improve organizational productivity, streamline automation efforts, and allow companies to focus resources on innovation.

Potential Positives

Launch of Progress® Automate MFT, a modern SaaS solution, demonstrates Progress Software's commitment to providing innovative and efficient secure file transfer automation.
Potential for organizations to achieve up to 50% lower total cost of ownership compared to traditional systems, enhancing competitiveness and operational efficiency.
Features such as no-code automation builder and security compliance oversight show Progress Software's focus on easing the user experience and meeting stringent regulatory requirements.
Positioning as a leader in the managed file transfer market aligns with ongoing trends in automation and AI, further solidifying Progress Software’s market presence and relevance.

Potential Negatives

The press release highlights increasing industry pressure on IT teams to manage aging infrastructure and security risks, which may reflect underlying challenges within the company's existing solutions.
The description of legacy systems as "difficult to scale, costly to maintain and increasingly vulnerable" may suggest that Progress Software's past offerings have not met modern enterprise needs effectively.

FAQ

What is Progress Automate MFT?

Progress Automate MFT is a new SaaS solution for secure file transfer automation designed for modern enterprises.

How does Automate MFT improve compliance?

It enhances compliance by integrating security frameworks like SOC 2 Type 1 and HIPAA, ensuring data protection and auditability.

What are the key features of Automate MFT?

Key features include a no-code automation builder, coordinator-agent architecture, shared libraries, and security oversight.

How does Automate MFT reduce costs?

By eliminating reliance on on-premises infrastructure and streamlining operations, it can achieve up to 50% lower total cost of ownership.

What industries benefit from Automate MFT?

Industries like finance benefit significantly from Automate MFT due to its compliance-focused capabilities and secure automation.

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 Congressional Stock Trading

Members of Congress have traded $PRGS stock 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $PRGS stock by members of Congress over the last 6 months:

REPRESENTATIVE LISA C. MCCLAIN has traded it 2 times. They made 1 purchase worth up to $15,000 on 07/10 and 1 sale worth up to $15,000 on 07/16.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$PRGS Insider Trading Activity

$PRGS insiders have traded $PRGS stock on the open market 15 times in the past 6 months. Of those trades, 3 have been purchases and 12 have been sales.

Here’s a breakdown of recent trading of $PRGS stock by insiders over the last 6 months:

LOREN JARRETT (EVP/GM Digital Experience) has made 0 purchases and 3 sales selling 34,093 shares for an estimated $2,083,082.
ANTHONY FOLGER (Chief Financial Officer) has made 0 purchases and 4 sales selling 11,003 shares for an estimated $547,225.
DAVID KRALL purchased 5,125 shares for an estimated $250,612
IAN PITT (Chief Information Officer) has made 0 purchases and 2 sales selling 2,595 shares for an estimated $161,444.
YUFAN STEPHANIE WANG (Chief Legal Officer) has made 0 purchases and 2 sales selling 2,856 shares for an estimated $149,268.
YOGESH K GUPTA (Chief Executive Officer) purchased 2,100 shares for an estimated $103,194
RAINER GAWLICK purchased 1,710 shares for an estimated $74,350
SUNDAR SUBRAMANIAN (EVP/GM Infrastructure Mgmt) sold 501 shares for an estimated $30,210

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$PRGS Hedge Fund Activity

We have seen 168 institutional investors add shares of $PRGS stock to their portfolio, and 151 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WELLINGTON MANAGEMENT GROUP LLP removed 271,202 shares (-20.0%) from their portfolio in Q2 2025, for an estimated $17,313,535
LSV ASSET MANAGEMENT removed 255,470 shares (-66.6%) from their portfolio in Q2 2025, for an estimated $16,309,204
BLACKROCK, INC. removed 252,935 shares (-3.6%) from their portfolio in Q2 2025, for an estimated $16,147,370
MACQUARIE GROUP LTD removed 239,377 shares (-22.2%) from their portfolio in Q2 2025, for an estimated $15,281,827
MILLENNIUM MANAGEMENT LLC added 238,779 shares (+138.9%) to their portfolio in Q2 2025, for an estimated $15,243,651
RENAISSANCE TECHNOLOGIES LLC removed 198,400 shares (-36.8%) from their portfolio in Q2 2025, for an estimated $12,665,856
MIZUHO MARKETS AMERICAS LLC added 187,700 shares (+32.3%) to their portfolio in Q2 2025, for an estimated $11,982,768

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$PRGS Analyst Ratings

Wall Street analysts have issued reports on $PRGS in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 10/13/2025
DA Davidson issued a "Buy" rating on 09/30/2025
Wedbush issued a "Outperform" rating on 07/01/2025

To track analyst ratings and price targets for $PRGS, check out Quiver Quantitative's $PRGS forecast page.

$PRGS Price Targets

Multiple analysts have issued price targets for $PRGS recently. We have seen 4 analysts offer price targets for $PRGS in the last 6 months, with a median target of $66.0.

Here are some recent targets:

Fatima Boolani from Citigroup set a target price of $57.0 on 10/13/2025
Lucky Schreiner from DA Davidson set a target price of $75.0 on 09/30/2025
Brent Thill from Jefferies set a target price of $50.0 on 09/30/2025
Daniel Ives from Wedbush set a target price of $75.0 on 07/01/2025

Full Release

Modern SaaS platform streamlines secure file transfer automation—reducing manual processes, scripting and infrastructure overhead to improve compliance and boost productivity

BURLINGTON, Mass., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Progress Software (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced the launch of Progress® Automate MFT, a new Software-as-a-Service (SaaS) solution that redefines secure file transfer automation for modern enterprises.

As more businesses build out their automation and AI strategies, IT teams face mounting pressure to move sensitive data reliably, in greater quantities than ever, while managing aging infrastructure, fragile scripts and strict compliance requirements. Manual file transfers and legacy tools often lead to inefficiencies, downtime and security weaknesses—introducing risk and diverting valuable resources from innovation.

Automate MFT addresses these challenges head-on with a scalable, cloud-native platform that streamlines automation and minimizes reliance on scripting. By eliminating hidden costs tied to on-premises infrastructure and reducing administrative burden, organizations can achieve up to 50% lower total cost of ownership compared to traditional systems, boost productivity, reduce overhead and reallocate resources to strategic initiatives.

“Serving the financial sector, reliability and auditability aren’t optional. Progress has created a solution that helps IT meet the security and compliance demands we’re held to for file transfers, while reducing the overhead required to support that automation,” said Todd Ruthman, Director of IT, Copp Clark. “As a lean core IT team with compliance-driven operations, Automate MFT is a great fit—no bulky installs, no upgrade or patch management, just secure automation delivered as a service that lets us easily integrate our internal systems.”

“Enterprises continue to struggle with legacy file transfer systems that are difficult to scale, costly to maintain and increasingly vulnerable to compliance and security risks,” said Shari Lava, Research Vice President, AI and Automation, IDC. “Organizations need to upgrade to modern MFT solutions that are both secure and cloud-native that can be better, faster and operate with greater scalability. By streamlining automation and strengthening oversight, modern MFT solutions built for today helps IT teams modernize operations while maintaining control and confidence.”

Key Features Include:

Coordinator-Agent Architecture : Microservices-based topology with lightweight agents deployed across cloud and private networks, managed from a centralized interface—ideal for hybrid and distributed environments.
No-Code Automation Builder & Scheduling : Point-and-click interface for building and scheduling workflows, eliminating scripting and accelerating deployment.
Shared Credential & Schedule Libraries : Reusable libraries simplify administration, such as rotating passwords across hundreds of endpoints in a single step.
Organizational Tools for Task Management : Folders and tags streamline organization and filtering of hundreds or thousands of tasks—no complex naming conventions required.
Task Versioning & Milestone Recovery : Automatically saves up to 200 task versions and 100 named milestones for quick restore, enabling flexibility and control.
Security & Compliance Oversight: Built on leading cloud infrastructure with an enterprise-grade security framework, Automate MFT supports SOC 2 Type 1 and HIPAA standards through built-in encryption, role-based access controls and multi-factor authentication—helping organizations protect data, monitor activity and verify delivery with confidence.

“Automate MFT marks a true shift in the managed file transfer market,” said Loren Jarrett, EVP & GM, Digital Experience, Progress Software. “This new modern solution was built from the ground up to solve organizations’ automation needs in today’s world, as automation and AI drive increases in business velocity. It is designed to help organizations modernize operations, safeguard data and scale with confidence, while freeing up time and budget to focus on innovation.”

Automate MFT is the newest addition to Progress’ file transfer portfolio, reinforcing its commitment to delivering secure and scalable solutions for data movement. To learn more about Automate MFT, visit https://www.progress.com/automate-mft or register for the October 30 release webinar.

About Progress Software
Progress Software (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 is a trademark or registered trademark 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 Contact:
Kim Baker
Progress Software
+1-800-477-6473
[email protected]