NASDAQ:PRGSProgress Software Stock Price, Forecast & News

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, PRGS shares have increased by 17.7% and is now trading at $38.38. 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) issued its quarterly earnings data on Thursday, June, 25th. The software maker reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.64 by $0.01. The software maker earned $102.51 million during the quarter, compared to analysts' expectations 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 previous year, the company earned $0.65 EPS. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Monday, June 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Monday, August 31st. View Progress Software's dividend history.

Progress Software announced that its board has initiated a share repurchase plan on Thursday, January 16th 2020, which authorizes the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to purchase up to 11.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board 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 12 month price targets for Progress Software's stock. Their forecasts range from $42.00 to $53.00. On average, they expect Progress Software's share price to reach $46.00 in the next year. This suggests a possible upside of 19.9% from the stock's current price. View analysts' price targets for Progress Software.

Media headlines about PRGS stock have trended somewhat negative recently, InfoTrie Sentiment reports. InfoTrie ranks the sentiment of media coverage by analyzing more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Progress Software earned a news sentiment score of -1.0 on InfoTrie's scale. They also assigned media coverage about the software maker a news buzz of 10.0 out of 10, meaning that recent media coverage is extremely likely to have an effect on the company's share price in the near term. View the latest news about Progress Software.

Progress Software saw a increase in short interest during the month of June. As of June 15th, there was short interest totaling 831,400 shares, an increase of 5.4% from the May 31st total of 788,700 shares. Based on an average daily volume of 447,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.9% of the company's shares 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."

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 $38.38.

Progress Software has a market capitalization of $1.72 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]