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NASDAQ:PRGSProgress Software Stock Price, Forecast & News

$36.50
-0.29 (-0.79 %)
(As of 08/12/2020 04:00 PM ET)
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Today's Range
$36.32
Now: $36.50
$37.10
50-Day Range
$34.51
MA: $36.43
$38.94
52-Week Range
$28.09
Now: $36.50
$52.50
Volume239,900 shs
Average Volume394,697 shs
Market Capitalization$1.63 billion
P/E Ratio35.78
Dividend Yield1.81%
Beta1.04
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

Industry Prepackaged software
Sub-IndustrySystems Software
Current SymbolNASDAQ:PRGS
CUSIP74331210
Phone781-280-4000

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$413.30 million
Cash Flow$4.07 per share
Book Value$7.37 per share

Profitability

Net Income$26.40 million

Miscellaneous

Employees1,538
Market Cap$1.63 billion
Next Earnings Date9/24/2020 (Estimated)
OptionableOptionable
$36.50
-0.29 (-0.79 %)
(As of 08/12/2020 04:00 PM 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 Coronavirus?

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, PRGS shares have increased by 12.0% and is now trading at $36.50.
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 Thursday, September 24th 2020.
View our earnings forecast for Progress Software
.

How were Progress Software's earnings last quarter?

Progress Software Corp (NASDAQ:PRGS) announced its quarterly earnings data on Thursday, June, 25th. The software maker reported $0.63 earnings per share 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 analysts' expectations of $99.17 million. Progress Software had a return on equity of 34.66% and a net margin of 10.81%. Progress Software's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share.
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. 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 1.81%. The ex-dividend date of this dividend 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 approved a share repurchase program on Thursday, January 16th 2020, which allows the company to repurchase $250,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to purchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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

Progress Software updated its FY20 earnings guidance on Thursday, June, 25th. The company provided earnings per share (EPS) 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.

What price target have analysts set for PRGS?

3 brokerages have issued 1 year price objectives for Progress Software's shares. Their forecasts range from $42.00 to $53.00. On average, they anticipate Progress Software's stock price to reach $46.00 in the next twelve months. This suggests a possible upside of 26.0% from the stock's current price.
View analysts' price targets for Progress Software
.

Has Progress Software been receiving favorable news coverage?

News articles about PRGS stock have trended extremely negative on Thursday, according to InfoTrie Sentiment Analysis. The research firm ranks the sentiment of press coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Progress Software earned a coverage optimism score of -4.1 on InfoTrie's scale. They also assigned news headlines about the software maker a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely to have an effect on the company's share price in the near future.
View the latest news about Progress Software
.

Are investors shorting Progress Software?

Progress Software saw a drop in short interest in May. As of May 15th, there was short interest totaling 788,700 shares, a drop of 21.9% from the April 30th total of 1,010,000 shares. Based on an average daily trading volume, of 462,100 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.8% of the shares of the company are sold short.
View Progress Software's Short Interest
.

Who are some of Progress Software's key 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 Cisco Systems (CSCO), Intel (INTC), Advanced Micro Devices (AMD), Energy Transfer LP Unit (ET), Micron Technology (MU), Pfizer (PFE), NVIDIA (NVDA), Costco Wholesale (COST), Verizon Communications (VZ) and AbbVie (ABBV).

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."

Who are Progress Software's major shareholders?

Progress Software's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Bank of New York Mellon Corp (2.16%), Boston Trust Walden Corp (2.14%), Fisher Asset Management LLC (1.51%), Principal Financial Group Inc. (0.87%), Chartwell Investment Partners LLC (0.79%) and Prudential Financial Inc. (0.72%). 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
.

Which institutional investors are selling Progress Software stock?

PRGS stock was sold by a variety of institutional investors in the last quarter, including Prudential Financial Inc., Goldman Sachs Group Inc., MERIAN GLOBAL INVESTORS UK Ltd, Great Lakes Advisors LLC, Robeco Institutional Asset Management B.V., AJO LP, Seizert Capital Partners LLC, and Fisher Asset Management LLC. Company insiders that have sold Progress Software company stock in the last year include Charles Francis Kane, and Paul A Jalbert.
View insider buying and selling activity for Progress Software
.

Which institutional investors are buying Progress Software stock?

PRGS stock was purchased by a variety of institutional investors in the last quarter, including Boston Trust Walden Corp, Bank of New York Mellon Corp, AlphaCrest Capital Management LLC, Bessemer Group Inc., Principal Financial Group Inc., Rafferty Asset Management LLC, Envestnet Asset Management Inc., and Swiss National Bank.
View insider buying and selling activity for Progress Software
.

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 $36.50.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.63 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 8/13/2020 by MarketBeat.com Staff

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