Progress Software Stock Forecast, Price & News

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Progress Software stock.
View analyst ratings for Progress Software or view top-rated stocks.

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Progress Software saw a increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,680,000 shares, an increase of 38.9% from the June 15th total of 1,930,000 shares. Based on an average trading volume of 396,600 shares, the days-to-cover ratio is currently 6.8 days. Approximately 6.2% of the shares of the stock are sold short.
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Progress Software is scheduled to release its next quarterly earnings announcement on Tuesday, October 5th 2021.
View our earnings forecast for Progress Software.

Progress Software Co. (NASDAQ:PRGS) posted its earnings results on Wednesday, June, 23rd. The software maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.73 by $0.09. The software maker earned $129.20 million during the quarter, compared to the consensus estimate of $121.99 million. Progress Software had a net margin of 15.58% and a trailing twelve-month return on equity of 37.43%. Progress Software's revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS.
View Progress Software's earnings history.

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization. Since then, PRGS stock has increased by 39.3% and is now trading at $45.40.
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Progress Software announced a quarterly dividend on Tuesday, June 22nd. Stockholders of record on Wednesday, September 1st will be paid a dividend of $0.175 per share on Wednesday, September 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, August 31st.
View Progress Software's dividend history.

Progress Software pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.52%. Progress Software has been increasing its dividend for 4 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio of Progress Software is 26.12%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Progress Software will have a dividend payout ratio of 22.80% next year. This indicates that Progress Software will be able to sustain or increase its dividend.
View Progress Software's dividend history.

Progress Software announced that its Board of Directors has approved a stock repurchase program on Thursday, January 16th 2020, which permits the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to reacquire up to 11.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board believes its stock is undervalued.

Progress Software updated its FY 2021 earnings guidance on Thursday, July, 22nd. The company provided earnings per share guidance of $3.460-$3.500 for the period, compared to the Thomson Reuters consensus estimate of $3.400. The company issued revenue guidance of $529 million-$535 million, compared to the consensus revenue estimate of $525 million.

3 Wall Street analysts have issued 1 year target prices for Progress Software's shares. Their forecasts range from $54.00 to $56.00. On average, they expect Progress Software's share price to reach $55.00 in the next year. This suggests a possible upside of 21.1% from the stock's current price.
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139 employees have rated Progress Software CEO Yogesh Gupta on Glassdoor.com. Yogesh Gupta has an approval rating of 54% among Progress Software's employees. This puts Yogesh Gupta in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Some companies that are related to Progress Software include Microsoft (MSFT), Oracle (ORCL), ServiceNow (NOW), VMware (VMW), Fortinet (FTNT), Axon Enterprise (AXON), Proofpoint (PFPT), C3.ai (AI), Qualys (QLYS), Commvault Systems (CVLT) and FalconStor Software (FALC).
View all of PRGS's competitors.

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).

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

Progress Software's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include State of Alaska Department of Revenue (0.07%), Whittier Trust Co. of Nevada Inc. (0.05%), Oregon Public Employees Retirement Fund (0.04%), 6 Meridian (0.02%) and Harel Insurance Investments & Financial Services Ltd. (0.00%). Company insiders that own Progress Software stock include Anthony Folger, Charles Francis Kane, Gary Quinn, Jeremy Segal, Paul A Jalbert, Rainer Gawlick and Yogesh K Gupta.
View institutional ownership trends for Progress Software.

PRGS stock was sold by a variety of institutional investors in the last quarter, including Harel Insurance Investments & Financial Services Ltd., Oregon Public Employees Retirement Fund, and 6 Meridian. Company insiders that have sold Progress Software company stock in the last year include Gary Quinn, and Jeremy Segal.
View insider buying and selling activity for Progress Software or view top insider-selling stocks.

PRGS stock was purchased by a variety of institutional investors in the last quarter, including State of Alaska Department of Revenue, and Whittier Trust Co. of Nevada Inc.. Company insiders that have bought Progress Software stock in the last two years include Anthony Folger, Rainer Gawlick, and Yogesh K Gupta.
View insider buying and selling activity for Progress Software or or view top insider-buying stocks.

Shares of PRGS 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.
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One share of PRGS stock can currently be purchased for approximately $45.40.

Progress Software has a market capitalization of $1.99 billion and generates $442.15 million in revenue each year. The software maker earns $79.72 million in net income (profit) each year or $2.68 on an earnings per share basis.

Progress Software employs 1,796 workers across the globe.

The following companies are subsidiares of Progress Software: Actional, Allegrix, Apama, Apama (UK) Limited, Apama Inc., BravePoint, Chef, Corticon Technologies, DataDirect Technologies, DataRPM, DataRPM India Private Limited, DataRPM LLC, EasyAsk, Genesis Development Corporation, IONA Technologies, IONA Technologies China Limited, IONA Technologies Spain SL, Ipswitch, Kinvey, Kinvey LLC, MightyMeeting Inc., Mindreef, Modulus, Neon Systems, Oak Park Realty LLC, Oak Park Realty Two LLC, OneBit Software, OpenAccess Software, Orbix Limited, Pantero, PeerDirect, Persistence Software, Persistence Software LLC, Progress (Shanghai) Software System Company Limited, Progress Security Corporation, Progress Software (Pty) Ltd, 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 Corporation, Progress Software Italy S.r.l., 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 de Argentina S.A., Progress Software de Venezuela C.A., Progress Software do Brasil Ltda., Progress Software spol. s.r.o., Rollbase, SPK Acquisitions Limited, Savvion, Savvion Inc., Telerik, Telerik India Private Limited, Telerik UK Ltd., Trident Acquisition EAD, Trident Acquisition Limited, Xcalia, and eXcelon Corporation.

Progress Software was founded in 1981.

The official website for Progress Software is www.progress.com.

Progress Software is headquartered at 14 OAK PARK DRIVE, BEDFORD MA, 01730.

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]