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NASDAQ:PRGS

Progress Software Stock Forecast, Price & News

$37.28
+1.54 (+4.31 %)
(As of 09/28/2020 12:00 AM ET)
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Today's Range
$36.03
Now: $37.28▼
$37.43
50-Day Range
$34.98
MA: $36.44▼
$38.55
52-Week Range
$28.09
Now: $37.28▼
$52.50
Volume505,181 shs
Average Volume381,524 shs
Market Capitalization$1.67 billion
P/E Ratio36.55
Dividend Yield1.85%
Beta1.03
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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Beat the Market (BTM) Rank™

Analyst Opinion: 3.5Community Rank: 2.4Dividend Strength: 2.5Insider Behavior: 1.0Valuation: 1.3 5 -4 -3 -2 -1 -

Overall Beat the Market Rank™

2.13 out of 5 stars


Industry, Sector and Symbol

Stock Exchange NASDAQ
Industry Prepackaged software
Sub-IndustrySystems Software
SectorComputer and Technology
Current SymbolNASDAQ:PRGS
Previous Symbol
CUSIP74331210
CIK876167
Webwww.progress.com
Phone781-280-4000

Debt

Debt-to-Equity Ratio0.81
Current Ratio1.29
Quick Ratio1.29

Price-To-Earnings

Trailing P/E Ratio36.55
Forward P/E Ratio14.68
P/E GrowthN/A

Sales & Book Value

Annual Sales$413.30 million
Price / Sales4.04
Cash Flow$4.39 per share
Price / Cash Flow8.50
Book Value$7.37 per share
Price / Book5.06

Profitability

EPS (Most Recent Fiscal Year)$2.29
Net Income$26.40 million
Net Margins10.81%
Return on Equity34.66%
Return on Assets13.08%

Miscellaneous

Employees1,538
Outstanding Shares44,788,000
Market Cap$1.67 billion
Next Earnings Date9/29/2020 (Confirmed)
OptionableOptionable
$37.28
+1.54 (+4.31 %)
(As of 09/28/2020 12:00 AM ET)
30 days | 90 days | 365 days | Advanced Chart

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Progress Software (NASDAQ:PRGS) Frequently Asked Questions

How has Progress Software's stock price been impacted by COVID-19 (Coronavirus)?

Progress Software's stock was trading at $32.60 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, PRGS stock has increased by 14.4% and is now trading at $37.28.
View which stocks have been most impacted by COVID-19.

Do Wall Street analysts recommend investors buy shares of Progress Software?

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
View analyst ratings for Progress Software.

When is Progress Software's next earnings date?

Progress Software is scheduled to release its next quarterly earnings announcement on Tuesday, September 29th 2020.
View our earnings forecast for Progress Software.

How were Progress Software's earnings last quarter?

Progress Software Corp (NASDAQ:PRGS) issued its quarterly earnings results on Thursday, June, 25th. The software maker reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.64 by $0.01. The software maker had revenue of $102.51 million for the quarter, compared to analyst estimates of $99.17 million. Progress Software had a return on equity of 34.66% and a net margin of 10.81%. The firm's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.65 EPS.
View Progress Software's earnings history.

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

Progress Software declared a quarterly dividend on Monday, June 29th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.165 per share on Tuesday, September 15th. This represents a $0.66 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Monday, August 31st.
View Progress Software's dividend history.

How will Progress Software's stock buyback program work?

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

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

Progress Software issued an update on its FY20 earnings guidance on Tuesday, September, 8th. The company provided EPS guidance of $2.94-2.97 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.85. The company issued revenue guidance of 452-456 million, compared to the consensus revenue estimate of $439.13 million.

What price target have analysts set for PRGS?

3 equities research analysts have issued 12 month price objectives for Progress Software's shares. Their forecasts range from $43.00 to $53.00. On average, they expect Progress Software's stock price to reach $47.00 in the next twelve months. This suggests a possible upside of 26.1% from the stock's current price.
View analysts' price targets for Progress Software.

Are investors shorting Progress Software?

Progress Software saw a increase in short interest in the month of September. As of September 15th, there was short interest totaling 923,600 shares, an increase of 54.1% from the August 31st total of 599,400 shares. Based on an average daily trading volume, of 324,000 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.1% of the company's shares are sold short.
View Progress Software's Short Interest.

Who are some of Progress Software's key competitors?

Some companies that are related to Progress Software include Microsoft (MSFT), Oracle (ORCL), ServiceNow (NOW), VMware (VMW), Fortinet (FTNT), Symantec (SYMC), Proofpoint (PFPT), Qualys (QLYS), CommVault Systems (CVLT) and FalconStor Software (FALC).
View all competitors.

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), Cisco Systems (CSCO), Micron Technology (MU), Energy Transfer LP Unit (ET), Pfizer (PFE), Advanced Micro Devices (AMD), NVIDIA (NVDA), AbbVie (ABBV), Costco Wholesale (COST) and AT&T (T).

Who are Progress Software's key executives?

Progress Software's management team includes the following 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)

What is Progress Software's stock symbol?

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

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, Robinhood, Fidelity, and Charles Schwab.

What is Progress Software's stock price today?

One share of PRGS stock can currently be purchased for approximately $37.28.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.67 billion and generates $413.30 million in revenue each year. The software maker earns $26.40 million in net income (profit) each year or $2.29 on an earnings per share basis. Progress Software employs 1,538 workers across the globe.

What is Progress Software's official website?

The official website for Progress Software is 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]

This page was last updated on 9/29/2020 by MarketBeat.com Staff
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