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 (WHO). Since then, PRGS shares have increased by 12.0% and is now trading at $36.50.
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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."
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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) 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.

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.

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.

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.

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.

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.

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.

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).
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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).

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 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.

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.

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.

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 $36.50.

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.

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]