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NASDAQ:PRGS

Progress Software (PRGS) Stock Forecast, Price & News

$56.26
-0.04 (-0.07%)
(As of 05:12 PM ET)
Compare
Today's Range
$56.18
$56.83
50-Day Range
$56.30
$61.82
52-Week Range
$40.33
$62.34
Volume
202,809 shs
Average Volume
331,690 shs
Market Capitalization
$2.44 billion
P/E Ratio
30.58
Dividend Yield
1.24%
Price Target
$64.40

Progress Software MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.80 Rating Score
Upside/​Downside
14.5% Upside
$64.40 Price Target
Short Interest
Bearish
6.82% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.91
Upright™ Environmental Score
News Sentiment
0.91mentions of Progress Software in the last 14 days
Based on 15 Articles This Week
Insider Trading
Selling Shares
$1.13 M Sold Last Quarter
Proj. Earnings Growth
9.20%
From $3.48 to $3.80 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.28 out of 5 stars

Computer And Technology Sector

298th out of 585 stocks

Prepackaged Software Industry

80th out of 199 stocks


PRGS stock logo

About Progress Software (NASDAQ:PRGS) Stock

Progress Software Corporation develops, deploys, and manages business applications. 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, a flexible 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. It also provides MOVEit, a managed file transfer software for managing and controlling the movement of sensitive files and securing them both at-rest and in-transit, DataDirect, a secure data connectivity tools for Relational, NoSQL, Big Data and SaaS data sources; WhatsUp Gold, a network infrastructure monitoring software providing complete visibility of all network devices, servers, virtual machines, and cloud and wireless environments to find and fix network problems; Flowmon, a network security and visibility product with automated response across hybrid cloud ecosystems; and Corticon, a decision automation platform to transform user experiences by streamlining and automating complex business rules. Further, the company offers project management, implementation, custom development, programming, and other services, as well as web-enable applications; and training services. It 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.

PRGS Price History

PRGS Stock News Headlines

The single greatest medical breakthrough of all time?
We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.
66,000% upside on tiny biotech?
The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.
On Releases its 2022 Impact Progress Report
See More Headlines
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PRGS Company Calendar

Last Earnings
6/29/2023
Ex-Dividend for 9/15 Dividend
8/31/2023
Dividend Payable
9/15/2023
Today
9/22/2023
Next Earnings (Confirmed)
9/26/2023
Fiscal Year End
11/30/2023

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Systems Software
Current Symbol
NASDAQ:PRGS
CUSIP
74331210
Employees
2,071
Year Founded
1981

Price Target and Rating

Average Stock Price Forecast
$64.40
High Stock Price Forecast
$66.00
Low Stock Price Forecast
$62.00
Forecasted Upside/Downside
+14.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.80
Research Coverage
5 Analysts

Profitability

Net Income
$95.07 million
Pretax Margin
15.21%

Debt

Sales & Book Value

Annual Sales
$602.01 million
Cash Flow
$5.30 per share
Book Value
$9.27 per share

Miscellaneous

Free Float
41,892,000
Market Cap
$2.44 billion
Optionable
Optionable
Beta
0.91

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Key Executives

  • Mr. Yogesh K. Gupta (Age 62)
    CEO, Pres & Director
    Comp: $1.26M
  • Mr. Anthony Folger (Age 51)
    Exec. VP & CFO
    Comp: $739.6k
  • Mr. Jeremy SegalMr. Jeremy Segal (Age 52)
    Exec. VP of Corp. Devel.
    Comp: $561.25k
  • Mr. John Ainsworth (Age 58)
    Exec. VP & GM of Application & Data Platform
    Comp: $622.83k
  • Ms. Loren Weinberg Jarrett (Age 48)
    Exec. VP & GM of Digital Experience
    Comp: $664.12k
  • Mr. Domenic Lococo
    Chief Accounting Officer
  • Mr. Ian Pitt (Age 56)
    Exec. VP & Chief Information Officer
  • Mr. Brian Flanagan
    Directory of Treasury & Investor Relations
  • Ms. YuFan Wang (Age 40)
    Exec. VP, Chief Legal Officer & Sec.
  • Ms. Jennifer Ortiz (Age 47)
    Exec. VP of Marketing













PRGS Stock - Frequently Asked Questions

Should I buy or sell Progress Software stock right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" PRGS shares.
View PRGS analyst ratings
or view top-rated stocks.

What is Progress Software's stock price forecast for 2023?

5 brokers have issued 1 year price targets for Progress Software's stock. Their PRGS share price forecasts range from $62.00 to $66.00. On average, they expect the company's share price to reach $64.40 in the next year. This suggests a possible upside of 14.4% from the stock's current price.
View analysts price targets for PRGS
or view top-rated stocks among Wall Street analysts.

How have PRGS shares performed in 2023?

Progress Software's stock was trading at $50.45 on January 1st, 2023. Since then, PRGS stock has increased by 11.6% and is now trading at $56.30.
View the best growth stocks for 2023 here
.

When is Progress Software's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, September 26th 2023.
View our PRGS earnings forecast
.

How can I listen to Progress Software's earnings call?

Progress Software will be holding an earnings conference call on Tuesday, September 26th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

How were Progress Software's earnings last quarter?

Progress Software Co. (NASDAQ:PRGS) announced its quarterly earnings results on Thursday, June, 29th. The software maker reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.16. The software maker earned $179.23 million during the quarter, compared to analysts' expectations of $169.78 million. Progress Software had a trailing twelve-month return on equity of 40.44% and a net margin of 12.49%. The business's revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share.

How often does Progress Software pay dividends? What is the dividend yield for Progress Software?

Progress Software declared a quarterly dividend on Wednesday, June 21st. Stockholders of record on Friday, September 1st will be given a dividend of $0.175 per share on Friday, September 15th. This represents a $0.70 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, August 31st.
Read our dividend analysis for PRGS
.

Is Progress Software a good dividend stock?

Progress Software (NASDAQ:PRGS) pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.23%. The dividend payout ratio is 38.04%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 18.42% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRGS.

What guidance has Progress Software issued on next quarter's earnings?

Progress Software issued an update on its FY 2023 earnings guidance on Thursday, June, 29th. The company provided earnings per share (EPS) guidance of $4.16-$4.24 for the period, compared to the consensus earnings per share estimate of $4.14. The company issued revenue guidance of $690.00 million-$698.00 million, compared to the consensus revenue estimate of $683.76 million.

What is Yogesh Gupta's approval rating as Progress Software's CEO?

139 employees have rated Progress Software Chief Executive Officer Yogesh Gupta on Glassdoor.com. Yogesh Gupta has an approval rating of 54% among the company's employees. This puts Yogesh Gupta in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Progress Software own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Intel (INTC), Micron Technology (MU), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Energy Transfer (ET), Pfizer (PFE), AbbVie (ABBV), NVIDIA (NVDA), Costco Wholesale (COST) and Broadcom (AVGO).

What is Progress Software's stock symbol?

Progress Software trades on the NASDAQ under the ticker symbol "PRGS."

Who are Progress Software's major shareholders?

Progress Software's stock is owned by many different institutional and retail investors. Top institutional shareholders include Boston Trust Walden Corp (3.68%), Dimensional Fund Advisors LP (3.08%), Principal Financial Group Inc. (2.40%), Renaissance Technologies LLC (2.30%), Geode Capital Management LLC (2.17%) and Paradice Investment Management LLC (1.74%). Insiders that own company stock include Anthony Folger, Charles Francis Kane, Domenic Lococo, Gary Quinn, Ian Pitt, Jennifer Ortiz, Jeremy Segal, John Ainsworth, Kathryn Kulikoski, Loren Jarrett, Rainer Gawlick, Sundar Subramanian, Yogesh K Gupta and Yufan Stephanie Wang.
View institutional ownership trends
.

How do I buy shares of Progress Software?

Shares of PRGS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Progress Software's stock price today?

One share of PRGS stock can currently be purchased for approximately $56.30.

How much money does Progress Software make?

Progress Software (NASDAQ:PRGS) has a market capitalization of $2.44 billion and generates $602.01 million in revenue each year. The software maker earns $95.07 million in net income (profit) each year or $1.84 on an earnings per share basis.

How many employees does Progress Software have?

The company employs 2,071 workers across the globe.

Does Progress Software have any subsidiaries?
The following companies are subsidiares of Progress Software: Actional, Allegrix, Apama, Apama (UK) Limited, BravePoint, Chef, Corticon Technologies, DataDirect Technologies, DataRPM, EasyAsk, Flowmon Networks A.S., Flowmon Networks Inc, IONA Technologies, IONA Technologies Spain SL, Ipswitch, Kemp Technologies Inc, Kemp Technologies India Private Limited, Kemp Technologies Limited, Kemp Technologies Pte. Ltd, Kinvey, MPC Kappa Holdings Inc, MPC Kappa Intermediate Inc, Mindreef, Modulus, Neon Systems, OneBit Software, OpenAccess Software, Pantero, PeerDirect, Persistence Software, Progress (Shanghai) Software System Company Limited, Progress Software (Pty) Ltd, Progress Software A/S, Progress Software A/S, Progress Software AG, Progress Software B.V., Progress Software Corporation (S) Pte. Ltd., Progress Software Corporation Limited, Progress Software Corporation of Canada Ltd, Progress Software Denmark A/S, Progress Software Development Private Limited, Progress Software EAD, Progress Software Europe B.V., Progress Software Germany GmbH, Progress Software GesmbH, Progress Software GmbH, Progress Software International LLC, Progress Software Italy S.r.l., Progress Software Japan KK, Progress Software Limited, Progress Software NV, Progress Software Oy, Progress Software Pty. Ltd., Progress Software S.A.S., Progress Software S.L., Progress Software Solutions India Private Limited, Progress Software Sp. z.o o., Progress Software Svenska AB, Progress Software Technologies Limited, Progress Software do Brasil Ltda., Progress Telerik, Rollbase, SPK Acquisitions Limited, Savvion, Savvion Inc, Trident Acquisition EAD, Trident Acquisition Limited, Xcalia, and eXcelon Corporation.
Read More
How can I contact Progress Software?

Progress Software's mailing address is 14 OAK PARK DRIVE, BEDFORD MA, 01730. The official website for the company is www.progress.com. The software maker can be reached via phone at (781) 280-4000, via email at investor-relations@progress.com, or via fax at 781-280-4095.

This page (NASDAQ:PRGS) was last updated on 9/22/2023 by MarketBeat.com Staff

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