Progress Software Posts 43% Operating Margin as Domo Deal Lifts Debt to $1.24 Billion

S&P Dow Jones Indices announced that Workiva will join the S&P SmallCap 600, replacing Formfactor Inc. in the index prior to the opening of trading on Tuesday, October 6, as part of a series of component shifts across multiple benchmarks. Shares of the cloud reporting platform jumped 3.3% in the morning session on the news, then cooled to $71.74, up 3% from the previous close. Index additions frequently generate positive market sentiment because investment funds that track the benchmark must adjust their portfolios to include the newly designated member. Workiva's shares are very volatile and have had 23 moves greater than 5% over the last year, and the stock is down 13.5% since the beginning of the year. At $71.74 per share, it trades 23.1% below its 52-week high of $93.31 from November 2025.

Workday announced on Thursday that it has launched in the United Arab Emirates. Angelique De Vries-Schipperijn, President, EMEA, Workday, said in a statement that the UAE is a key market in Workday's growth strategy, with organizations pursuing transformation against some of the world's most ambitious national agendas, and that they need technology that helps them move faster, adopt new ways of working, and show clear results while maintaining the trust and control large, regulated organizations require. Workday shares slipped more than 3% in midday trading, in-line with a broader market sell-off.

Progress Software reported quarterly earnings of $1.69 per share, beating the Zacks Consensus Estimate of $1.49 per share and marking a positive earnings surprise of 13.42%. The figure compares to earnings of $1.5 per share a year ago, adjusted for non-recurring items, and the company has now surpassed consensus EPS estimates in each of the last four quarters. Revenue for the quarter ended August 2026 came in at $246.01 million, missing the Zacks Consensus Estimate by 0.47% and down from year-ago revenues of $249.79 million, with the company having topped consensus revenue estimates two times over the last four quarters. Ahead of the release, the estimate revisions trend was mixed, translating into a Zacks Rank #3 (Hold), and the current consensus stands at $1.41 per share on $251.36 million in revenues for the coming quarter and $6.16 per share on $994.66 million in revenues for the current fiscal year. Progress Software shares have lost about 8.2% since the beginning of the year versus the S&P 500's gain of 12.1%, while industry peer Pegasystems has yet to report results for the quarter ended September 2026, with expectations of $0.45 per share in earnings and $442.6 million in revenues.