David Krall Sells 20,000 Shares of Progress Software Co. (NASDAQ:PRGS) Stock

Progress Software Co. (NASDAQ:PRGS - Get Free Report) Director David Krall sold 20,000 shares of the business's stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $51.00, for a total value of $1,020,000.00. Following the sale, the director now directly owns 86,641 shares of the company's stock, valued at approximately $4,418,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Progress Software Stock Down 1.8 %

Shares of NASDAQ:PRGS traded down $0.92 during trading on Monday, hitting $50.06. The company's stock had a trading volume of 382,373 shares, compared to its average volume of 586,994. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.95 and a current ratio of 0.95. Progress Software Co. has a fifty-two week low of $49.02 and a fifty-two week high of $62.34. The stock's 50-day moving average price is $53.60 and its two-hundred day moving average price is $53.76. The company has a market capitalization of $2.20 billion, a PE ratio of 32.51, a PEG ratio of 6.63 and a beta of 0.94.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings results on Tuesday, March 26th. The software maker reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Progress Software had a return on equity of 36.62% and a net margin of 9.67%. The business had revenue of $184.69 million for the quarter, compared to analysts' expectations of $181.91 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company's revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Progress Software Co. will post 3.85 EPS for the current year.

Progress Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 31st. Progress Software's dividend payout ratio (DPR) is 45.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PRGS shares. JPMorgan Chase & Co. reduced their price objective on Progress Software from $65.00 to $63.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 27th. StockNews.com upgraded Progress Software from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 10th. DA Davidson started coverage on Progress Software in a research note on Thursday, March 28th. They set a "buy" rating and a $65.00 price objective on the stock. Wedbush boosted their price objective on Progress Software from $65.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Finally, Oppenheimer restated an "outperform" rating and set a $66.00 price objective on shares of Progress Software in a research note on Wednesday, March 27th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Progress Software currently has a consensus rating of "Buy" and a consensus target price of $64.60.

Institutional Trading of Progress Software

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in Progress Software in the fourth quarter valued at about $28,000. Headlands Technologies LLC bought a new stake in Progress Software in the third quarter valued at about $40,000. Orion Capital Management LLC bought a new stake in Progress Software in the third quarter valued at about $41,000. Clear Street Markets LLC bought a new stake in Progress Software in the third quarter valued at about $50,000. Finally, Federated Hermes Inc. increased its holdings in Progress Software by 46.7% in the third quarter. Federated Hermes Inc. now owns 1,165 shares of the software maker's stock valued at $50,000 after buying an additional 371 shares during the last quarter.

Progress Software Company Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.