S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Sell every Stock except ONE (Ad)
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
Biden's Plan to Confiscate Your Cash? (Ad)
'Everyone's Got a Story of How the Healthcare System Has Fallen Short.' This Founder Is on a Mission to Change That.
Former Deutsche Bank Co-CEO Anshu Jain dies
High oil prices help Saudi Aramco earn $88B in first half
Biden's Plan to Confiscate Your Cash? (Ad)
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Sell every Stock except ONE (Ad)
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
Biden's Plan to Confiscate Your Cash? (Ad)
'Everyone's Got a Story of How the Healthcare System Has Fallen Short.' This Founder Is on a Mission to Change That.
Former Deutsche Bank Co-CEO Anshu Jain dies
High oil prices help Saudi Aramco earn $88B in first half
Biden's Plan to Confiscate Your Cash? (Ad)
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Sell every Stock except ONE (Ad)
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
Biden's Plan to Confiscate Your Cash? (Ad)
'Everyone's Got a Story of How the Healthcare System Has Fallen Short.' This Founder Is on a Mission to Change That.
Former Deutsche Bank Co-CEO Anshu Jain dies
High oil prices help Saudi Aramco earn $88B in first half
Biden's Plan to Confiscate Your Cash? (Ad)
S&P 500   4,280.15
DOW   33,761.05
QQQ   330.39
Sinema took Wall Street money while killing tax on investors
Sell every Stock except ONE (Ad)
Expanded IRS free-file system one step closer in Dems' bill
Climate bill: Could coal communities shift to nuclear?
Germans urged to cap heat in offices this winter to save gas
Biden's Plan to Confiscate Your Cash? (Ad)
'Everyone's Got a Story of How the Healthcare System Has Fallen Short.' This Founder Is on a Mission to Change That.
Former Deutsche Bank Co-CEO Anshu Jain dies
High oil prices help Saudi Aramco earn $88B in first half
Biden's Plan to Confiscate Your Cash? (Ad)
NASDAQ:PRGS

Progress Software - PRGS Stock Forecast, Price & News

$49.58
+1.72 (+3.59%)
(As of 08/12/2022 12:00 AM ET)
Add
Compare
Today's Range
$48.21
$49.81
50-Day Range
$43.42
$51.56
52-Week Range
$41.68
$53.99
Volume
179,679 shs
Average Volume
226,453 shs
Market Capitalization
$2.15 billion
P/E Ratio
23.06
Dividend Yield
1.41%
Price Target
$56.25

Progress Software MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.80 Rating Score
Upside/​Downside
13.5% Upside
$56.25 Price Target
Short Interest
Bearish
6.14% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.73
Upright™ Environmental Score
News Sentiment
0.76mentions of Progress Software in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$469,300 Sold Last Quarter
Proj. Earnings Growth
8.07%
From $3.47 to $3.75 Per Share

Overall MarketRank

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

2.51 out of 5 stars

Computer And Technology Sector

205th out of 665 stocks

Prepackaged Software Industry

58th out of 230 stocks

PRGS stock logo

About Progress Software (NASDAQ:PRGS) Stock

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.

Progress Software Stock Up 3.6 %

Shares of PRGS Stock opened at $49.58 on Friday. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 6.90 and a beta of 1.02. Progress Software has a one year low of $41.68 and a one year high of $53.99. The company's fifty day moving average price is $46.84 and its 200-day moving average price is $46.30. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.25 and a quick ratio of 1.25.

Progress Software (NASDAQ:PRGS - Get Rating) last announced its quarterly earnings data on Tuesday, June 28th. The software maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The firm had revenue of $148.70 million for the quarter, compared to the consensus estimate of $146.45 million. Progress Software had a net margin of 16.42% and a return on equity of 41.13%. The company's revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. Sell-side analysts expect that Progress Software will post 3.47 EPS for the current fiscal year.

Progress Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $0.175 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.41%. Progress Software's dividend payout ratio is currently 32.56%.

Analyst Ratings Changes

PRGS has been the topic of several research reports. Wedbush restated an "outperform" rating on shares of Progress Software in a report on Wednesday, June 29th. Guggenheim initiated coverage on shares of Progress Software in a research note on Friday. They set a "buy" rating and a $60.00 price target on the stock. Finally, Oppenheimer dropped their price target on shares of Progress Software from $60.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 29th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $56.25.

Insider Buying and Selling at Progress Software

In other Progress Software news, CEO Yogesh K. Gupta sold 5,000 shares of Progress Software stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $46.58, for a total value of $232,900.00. Following the sale, the chief executive officer now directly owns 75,000 shares in the company, valued at approximately $3,493,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.20% of the stock is currently owned by insiders.

Receive PRGS Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Progress Software and its competitors with MarketBeat's FREE daily newsletter.

PRGS Stock News Headlines

See More Headlines
Receive PRGS Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Progress Software and its competitors with MarketBeat's FREE daily newsletter.

PRGS Company Calendar

Ex-Dividend for 6/15 Dividend
5/31/2022
Dividend Payable
6/15/2022
Last Earnings
6/28/2022
Today
8/14/2022
Ex-Dividend for 9/15 Dividend
8/31/2022
Dividend Payable
9/15/2022
Next Earnings (Estimated)
9/22/2022
Fiscal Year End
11/30/2022

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Systems Software
Current Symbol
NASDAQ:PRGS
CUSIP
74331210
Employees
2,103
Year Founded
1981

Price Target and Rating

Average Stock Price Forecast
$56.25
High Stock Price Forecast
$60.00
Low Stock Price Forecast
$52.00
Forecasted Upside/Downside
+13.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.80
Research Coverage
5 Analysts

Profitability

Net Income
$78.42 million
Pretax Margin
20.05%

Debt

Sales & Book Value

Annual Sales
$531.31 million
Cash Flow
$4.80 per share
Book Value
$9.41 per share

Miscellaneous

Free Float
42,071,000
Market Cap
$2.15 billion
Optionable
Optionable
Beta
1.02

Social Links


Key Executives

  • Mr. Yogesh K. Gupta (Age 61)
    CEO, Pres & Director
    Comp: $1.46M
  • Mr. Anthony Folger (Age 50)
    Exec. VP & CFO
    Comp: $808.15k
  • Mr. Stephen H. Faberman (Age 52)
    Exec. VP, Chief Legal Officer & Sec.
    Comp: $670.22k
  • Ms. Loren Weinberg Jarrett (Age 47)
    Exec. VP & GM of Developer Tools Bus.
    Comp: $697.9k
  • Mr. Domenic Lococo
    Chief Accounting Officer
  • Mr. Ian Pitt (Age 54)
    Exec. VP & Chief Information Officer
  • Mr. Brian Flanagan
    Directory of Treasury & Investor Relations
  • Ms. Jennifer Ortiz (Age 44)
    Exec. VP of Corp. Marketing
  • Mr. Jeremy Segal (Age 51)
    Exec. VP of Corp. Devel.
  • Ms. Katie Kulikoski (Age 45)
    Exec. VP & Chief People Officer













PRGS Stock - Frequently Asked Questions

Should I buy or sell Progress Software stock right now?

5 Wall Street equities 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 equities research analysts is that investors should "buy" PRGS shares.
View PRGS analyst ratings
or view top-rated stocks.

What is Progress Software's stock price forecast for 2022?

5 brokerages have issued 1-year target prices for Progress Software's stock. Their PRGS share price forecasts range from $52.00 to $60.00. On average, they anticipate the company's share price to reach $56.25 in the next year. This suggests a possible upside of 13.5% 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 2022?

Progress Software's stock was trading at $48.27 at the beginning of 2022. Since then, PRGS stock has increased by 2.7% and is now trading at $49.58.
View the best growth stocks for 2022 here
.

When is Progress Software's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, September 22nd 2022.
View our PRGS earnings forecast
.

How were Progress Software's earnings last quarter?

Progress Software Co. (NASDAQ:PRGS) announced its earnings results on Tuesday, June, 28th. The software maker reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The software maker earned $148.70 million during the quarter, compared to the consensus estimate of $146.45 million. Progress Software had a trailing twelve-month return on equity of 41.13% and a net margin of 16.42%. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS.

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

Progress Software announced a quarterly dividend on Thursday, June 30th. Investors of record on Thursday, September 1st will be paid a dividend of $0.175 per share on Thursday, September 15th. This represents a $0.70 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Wednesday, 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 1.46%. The dividend payout ratio is 32.56%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 18.67% 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 updated its third quarter 2022 earnings guidance on Tuesday, July, 26th. The company provided earnings per share (EPS) guidance of $0.96-$0.98 for the period, compared to the consensus estimate of $1.11. The company issued revenue guidance of $147.00 million-$150.00 million, compared to the consensus revenue estimate of $160.23 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 a number of institutional and retail investors. Top institutional investors include Boston Trust Walden Corp (3.64%), Renaissance Technologies LLC (2.98%), Paradice Investment Management LLC (2.20%), William Blair Investment Management LLC (2.13%), Victory Capital Management Inc. (2.09%) and Seizert Capital Partners LLC (1.69%). Insiders that own company stock include Anthony Folger, Charles Francis Kane, Domenic Lococo, Gary Quinn, Jeremy Segal, John Ainsworth, Paul A Jalbert, Rainer Gawlick and Yogesh K Gupta.
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 $49.58.

How much money does Progress Software make?

Progress Software (NASDAQ:PRGS) has a market capitalization of $2.15 billion and generates $531.31 million in revenue each year. The software maker earns $78.42 million in net income (profit) each year or $2.15 on an earnings per share basis.

How many employees does Progress Software have?

The company employs 2,103 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

When was Progress Software founded?

Progress Software was founded in 1981.

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 8/14/2022 by MarketBeat.com Staff

MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | contact@marketbeat.com | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Privacy Policy | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart's disclaimer.