What is Progress Software Corporation's Shariah compliance score?

Progress Software Corporation's (PRGS) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Progress Software Corporation pass AAOIFI screening?

Progress Software Corporation (PRGS) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (PRGS: 84.2%), (3) interest-bearing deposits below 30% (PRGS: 5.7%), and (4) prohibited income below 5% (PRGS: 0.1%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Progress Software Corporation stock?

Progress Software Corporation (PRGS) has a non-permissible income ratio of 0.09%. Muslim investors should purify this percentage of any dividends received and capital gains realized from PRGS shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Progress Software Corporation for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Progress Software Corporation (PRGS) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about PRGS's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

PRGS: Is Progress Software Corporation Halal?

Progress Software Corporation

NASDAQTechnologyUS

$34.05

-3.60%

Market Cap: 1.4B

Compliance Status

Not Halal

Screened on Jul 19, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Progress Software Corporation (PRGS) halal? Not Halal. Based on AAOIFI screening, Progress Software Corporation passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

84.2% of 30.0% limit

What this means for you

Most scholars advise not holding PRGS

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Progress Software Corporation

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities. It also offers DataDirect Connect, which provides data connectivity using industry-standard interfaces to connect applications running on various platforms; MOVEit that offers secure collaboration and automated file transfers of critical business information; Chef, an infrastructure automation platform to build, deploy, manage, and secure applications in multi-cloud and hybrid environments, and on-premises; and WhatsUp Gold, a network monitoring solution. In addition, the company provides Kemp LoadMaster, a load balancing solutions; and Kemp Flowmon network performance monitoring and diagnostic solutions that collect and analyze network telemetry from various sources. Further, it provides project management, implementation, custom development, programming, and other services, as well as web-enable applications; and training services. The company sells its products to end users, independent software vendors, original equipment manufacturers, and system integrators. It has operations in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company was founded in 1981 and is headquartered in Burlington, Massachusetts.

Sector: Technology · Industry: Software - Application

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 19, 2026

Compliance History

Not Halal, unchanged since May 2026.

No status changes recorded since we began tracking.

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: EDGAR

Halal Alternatives in Technology

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

UIA+

Ubiquiti Inc.

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UCrest Bhd

$0.07

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0008.KLA+

Willowglen MSC Bhd

$0.29

+0.00%

0010.KLA+

IRIS Corporation Bhd

$0.22

-0.04%

0023.KLA+

IFCA MSC Bhd

$0.21

+0.00%

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Apple Inc.

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CRM

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Adobe Inc.

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Frequently Asked Questions

Is Progress Software Corporation (PRGS) halal to invest in?

Progress Software Corporation (PRGS) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Progress Software Corporation get a F compliance rating?

Progress Software Corporation (PRGS) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 84.2% (limit 30%); interest-bearing deposits of 5.7% (limit 30%); prohibited income of 0.09% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Progress Software Corporation's Shariah verdict?

Progress Software Corporation's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Progress Software Corporation re-screened for Shariah compliance?

Progress Software Corporation (PRGS) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 19, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.