NASDAQ:PRGSProgress Software Stock Price, Forecast & News

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. Since then, PRGS stock has increased by 13.8% and is now trading at $37.10. View which stocks have been most impacted by Coronavirus.

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.

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, September 24th 2020. View our earnings forecast for Progress Software.

Progress Software Corp (NASDAQ:PRGS) released 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 net margin of 10.81% and a return on equity of 34.66%. Progress Software's revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Monday, June 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.165 per share on Tuesday, September 15th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, August 31st. View Progress Software's dividend history.

Progress Software announced that its board has authorized 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 purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Progress Software updated its FY20 earnings guidance on Thursday, June, 25th. The company provided earnings per share guidance of $2.82-2.86 for the period, compared to the Thomson Reuters consensus estimate of $2.78. The company issued revenue guidance of $433-443 million, compared to the consensus revenue estimate of $432.55 million.

3 Wall Street analysts have issued 1 year price targets for Progress Software's stock. Their forecasts range from $42.00 to $53.00. On average, they anticipate Progress Software's share price to reach $46.00 in the next year. This suggests a possible upside of 24.0% from the stock's current price. View analysts' price targets for Progress Software.

News headlines about PRGS stock have trended negative on Wednesday, according to InfoTrie Sentiment. The research firm identifies negative and positive media coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Progress Software earned a media sentiment score of -2.1 on InfoTrie's scale. They also gave media coverage about the software maker a news buzz of 0.0 out of 10, meaning that recent media coverage is extremely unlikely to have an impact on the company's share price in the near term. View the latest news about Progress Software.

Progress Software saw a drop in short interest in the month of June. As of June 30th, there was short interest totaling 686,200 shares, a drop of 17.5% from the June 15th total of 831,400 shares. Based on an average daily trading volume, of 380,800 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.6% of the shares of the company are sold short. View Progress Software's Current Options Chain.

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.

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Energy Transfer LP Unit (ET), Advanced Micro Devices (AMD), Intel (INTC), Micron Technology (MU), Cisco Systems (CSCO), Alibaba Group (BABA), Crispr Therapeutics (CRSP), Pfizer (PFE), NVIDIA (NVDA) and Abbott Laboratories (ABT).

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

Progress Software's stock is owned by a variety of retail and institutional investors. Top institutional investors include Envestnet Asset Management Inc. (0.12%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan and Paul A Jalbert. View institutional ownership trends for Progress Software.

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Envestnet Asset Management Inc.. View insider buying and selling activity for 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.

One share of PRGS stock can currently be purchased for approximately $37.10.

Progress Software has a market capitalization of $1.66 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.

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

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]