Progress Software - PRGS Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last twelve months. There are currently 2 hold ratings and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" PRGS shares.
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5 equities research analysts have issued 1-year target prices for Progress Software's shares. Their PRGS share price forecasts range from $46.00 to $64.00. On average, they predict the company's share price to reach $53.75 in the next year. This suggests that the stock has a possible downside of 7.9%.
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Progress Software's stock was trading at $50.45 at the beginning of the year. Since then, PRGS stock has increased by 15.7% and is now trading at $58.39.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, March 28th 2023.
View our PRGS earnings forecast.

Progress Software will be holding an earnings conference call on Tuesday, March 28th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

Progress Software Co. (NASDAQ:PRGS) posted its quarterly earnings results on Tuesday, January, 17th. The software maker reported $0.91 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by $0.02. The software maker had revenue of $159.17 million for the quarter, compared to analyst estimates of $163.04 million. Progress Software had a trailing twelve-month return on equity of 41.04% and a net margin of 15.79%. Progress Software's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS.

Progress Software declared a quarterly dividend on Tuesday, January 17th. Investors of record on Wednesday, March 1st will be paid a dividend of $0.175 per share on Wednesday, March 15th. This represents a $0.70 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, February 28th.
Read our dividend analysis for PRGS.

ETFs with the largest weight of Progress Software (NASDAQ:PRGS) stock in their portfolio include Invesco S&P SmallCap Information Technology ETF (PSCT), Small Cap US Equity Select ETF (RNSC), Pacer US Small Cap Cash Cows 100 ETF (CALF), Hartford Longevity Economy ETF (HLGE), Invesco S&P SmallCap 600 Pure Growth ETF (RZG), First Trust Horizon Managed Volatility Small/Mid ETF (HSMV), SPDR S&P 600 Small Cap Growth ETF (SLYG) and First Trust Small Cap Growth AlphaDEX Fund (FYC).

Progress Software (NASDAQ:PRGS) pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.22%. The dividend payout ratio is 32.41%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 17.50% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRGS.

Progress Software issued an update on its FY22 earnings guidance on Tuesday, January, 17th. The company provided earnings per share guidance of $4.09-4.17 for the period, compared to the consensus estimate of $4.10. The company issued revenue guidance of $675-685 million, compared to the consensus revenue estimate of $613.03 million.

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.

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).

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

Progress Software's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Boston Trust Walden Corp (3.76%), Dimensional Fund Advisors LP (3.01%), Fuller & Thaler Asset Management Inc. (2.61%), Renaissance Technologies LLC (2.48%), Seizert Capital Partners LLC (2.08%) and William Blair Investment Management LLC (2.00%). Insiders that own company stock include Anthony Folger, Charles Francis Kane, Domenic Lococo, Gary Quinn, Ian Pitt, Jennifer Ortiz, Jeremy Segal, John Ainsworth, Kathryn Kulikoski, Loren Jarrett, Rainer Gawlick, Sundar Subramanian and Yogesh K Gupta.
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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.
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One share of PRGS stock can currently be purchased for approximately $58.39.

Progress Software (NASDAQ:PRGS) has a market capitalization of $2.53 billion and generates $602.01 million in revenue each year. The software maker earns $95.07 million in net income (profit) each year or $2.16 on an earnings per share basis.

The company employs 2,071 workers across the globe.

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.