NASDAQ:PRGS - Progress Software Stock Price, News, & Analysis

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$42.59 -0.66 (-1.53 %)
(As of 05/21/2019 04:34 AM ET)
Previous Close$43.25
Today's Range$42.14 - $43.14
52-Week Range$30.23 - $47.60
Volume240,013 shs
Average Volume477,897 shs
Market Capitalization$1.90 billion
P/E Ratio20.00
Dividend Yield1.43%
Beta0.71
Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT. The Data Connectivity and Integration segment provides Progress DataDirect Connect software, which offers data connectivity using industry-standard interfaces to connect applications running on various platforms; and Progress DataDirect Hybrid Data Pipeline, a data access service that provides cloud and on-premises data sources for hybrid cloud applications, such as CRM, data management platforms, and hosted analytics. The Application Development and Deployment segment offers Dev Tools, a cross-platform, user experience design, quality assurance, debugging, and reporting suite; Sitefinity, a Web content management and customer analytics platform; and Test Studio, an application lifecycle management suite for testing Web, mobile, and desktop applications. The company also provides project management, implementation, custom development, programming, and other services, as well as services to Web-enable applications; and training services. It sells its products directly to end users, as well as indirectly to application partners, original equipment manufacturers, and system integrators. Progress Software Corporation was founded in 1981 and is headquartered in Bedford, Massachusetts.

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Industry, Sector and Symbol

Industry Prepackaged software
Sub-IndustrySystems Software
SectorComputer and Technology
Current SymbolNASDAQ:PRGS
CUSIP74331210
Phone781-280-4000

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$397.17 million
Cash Flow$3.1385 per share
Book Value$6.91 per share

Profitability

Net Income$63.49 million

Miscellaneous

Employees1,412
Market Cap$1.90 billion
Next Earnings Date6/26/2019 (Estimated)
OptionableOptionable

Progress Software (NASDAQ:PRGS) Frequently Asked Questions

What is Progress Software's stock symbol?

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

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

Progress Software declared a quarterly dividend on Tuesday, April 2nd. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.155 per share on Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Friday, May 31st. View Progress Software's Dividend History.

How will Progress Software's stock buyback program work?

Progress Software announced that its Board of Directors has initiated a share buyback program on Thursday, September 28th 2017, which permits the company to repurchase $159,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization permits the company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's management believes its stock is undervalued.

How were Progress Software's earnings last quarter?

Progress Software Corp (NASDAQ:PRGS) issued its quarterly earnings data on Thursday, March, 28th. The software maker reported $0.39 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.47 by $0.08. The software maker had revenue of $89.50 million for the quarter, compared to analysts' expectations of $87.64 million. Progress Software had a return on equity of 30.57% and a net margin of 15.27%. The firm's revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. View Progress Software's Earnings History.

When is Progress Software's next earnings date?

Progress Software is scheduled to release their next quarterly earnings announcement on Wednesday, June 26th 2019. View Earnings Estimates for Progress Software.

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

Progress Software updated its FY19 earnings guidance on Thursday, March, 28th. The company provided earnings per share (EPS) guidance of $2.46-2.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.37. The company issued revenue guidance of $422-428 million, compared to the consensus revenue estimate of $383.42 million.Progress Software also updated its FY 2019 guidance to $2.46-2.52 EPS.

What price target have analysts set for PRGS?

3 analysts have issued 1 year price objectives for Progress Software's stock. Their forecasts range from $29.00 to $50.00. On average, they anticipate Progress Software's stock price to reach $40.3333 in the next twelve months. This suggests that the stock has a possible downside of 5.3%. View Analyst Price Targets for Progress Software.

What is the consensus analysts' recommendation for Progress Software?

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 2 hold ratings and 1 buy rating for the stock, resulting in a consensus recommendation of "Hold." View Analyst Ratings for Progress Software.

What are Wall Street analysts saying about Progress Software stock?

Here are some recent quotes from research analysts about Progress Software stock:
  • 1. According to Zacks Investment Research, "Progress offers the leading platform for developing and deploying mission-critical business applications. Progress empowers enterprises and ISVs to build and deliver cognitive-first applications that harness big data to derive business insights and competitive advantage. Progress offers leading technologies for easily building powerful user interfaces across any type of device, a reliable, scalable and secure backend platform to deploy modern applications, leading data connectivity to all sources, and award-winning predictive analytics that brings the power of machine learning to any organization. " (4/4/2019)
  • 2. National Securities analysts commented, "We are initiating coverage of Progress Software with a BUY rating and $50 price target.
    Current management brings a shareholder friendly posture.
    We expect Industrial IoT (IIoT) will be a notable contributor to future growth.
    The F2017 acquisitions of DataRPM and Kinvey were well reasoned and likely to benefit shareholders." (7/16/2018)

Has Progress Software been receiving favorable news coverage?

Headlines about PRGS stock have been trending somewhat negative this week, InfoTrie reports. InfoTrie identifies negative and positive news coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Progress Software earned a media sentiment score of -1.3 on InfoTrie's scale. They also gave media headlines about the software maker a news buzz of 4.0 out of 10, meaning that recent news coverage is somewhat unlikely to have an effect on the company's share price in the immediate future.

Are investors shorting Progress Software?

Progress Software saw a increase in short interest in April. As of April 15th, there was short interest totalling 838,287 shares, an increase of 57.8% from the March 29th total of 531,251 shares. Based on an average daily trading volume, of 599,066 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.9% of the shares of the company are sold short. View Progress Software's Current Options Chain.

Who are some of Progress Software's key competitors?

What other stocks do shareholders of Progress Software own?

Who are Progress Software's key executives?

Progress Software's management team includes the folowing people:
  • Mr. Yogesh Gupta, CEO, Pres & Director (Age 58)
  • Mr. Paul A. Jalbert, Chief Financial Officer (Age 62)
  • Mr. Dmitri Tcherevik, Chief Technology Officer (Age 49)
  • Ms. Loren Weinberg Jarrett, Chief Marketing Officer (Age 44)
  • Mr. John Ainsworth, Sr. VP of Core Products (Age 54)

Who are Progress Software's major shareholders?

Progress Software's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (14.86%), Dimensional Fund Advisors LP (4.03%), Acadian Asset Management LLC (2.98%), Renaissance Technologies LLC (2.97%), Man Group plc (2.65%) and Northern Trust Corp (2.07%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan and Michael Mark. View Institutional Ownership Trends for Progress Software.

Which major investors are selling Progress Software stock?

PRGS stock was sold by a variety of institutional investors in the last quarter, including Wedge Capital Management L L P NC, Marshall Wace LLP, Goldman Sachs Group Inc., Acadian Asset Management LLC, AJO LP, Comerica Bank, Federated Investors Inc. PA and Connor Clark & Lunn Investment Management Ltd.. Company insiders that have sold Progress Software company stock in the last year include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov and John R Egan. View Insider Buying and Selling for Progress Software.

Which major investors are buying Progress Software stock?

PRGS stock was acquired by a variety of institutional investors in the last quarter, including BTIM Corp., Man Group plc, Jacobs Levy Equity Management Inc., Renaissance Technologies LLC, First Trust Advisors LP, Morgan Stanley, JPMorgan Chase & Co. and Oxford Asset Management LLP. View Insider Buying and Selling for Progress Software.

How do I buy shares of Progress Software?

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

What is Progress Software's stock price today?

One share of PRGS stock can currently be purchased for approximately $42.59.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.90 billion and generates $397.17 million in revenue each year. The software maker earns $63.49 million in net income (profit) each year or $2.13 on an earnings per share basis. Progress Software employs 1,412 workers across the globe.

What is Progress Software's official website?

The official website for Progress Software is http://www.progress.com.

How can I contact Progress Software?

Progress Software's mailing address is 14 OAK PARK DRIVE, BEDFORD MA, 01730. The software maker can be reached via phone at 781-280-4000 or via email at [email protected]


MarketBeat Community Rating for Progress Software (NASDAQ PRGS)

Community Ranking:  2.3 out of 5 (star star)
Outperform Votes:  297 (Vote Outperform)
Underperform Votes:  360 (Vote Underperform)
Total Votes:  657
MarketBeat's community ratings are surveys of what our community members think about Progress Software and other stocks. Vote "Outperform" if you believe PRGS will outperform the S&P 500 over the long term. Vote "Underperform" if you believe PRGS will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 5/21/2019 by MarketBeat.com Staff

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