Progress Software (PRGS) Stock Forecast, Price & News

6 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 2 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" PRGS shares.
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6 Wall Street analysts have issued twelve-month target prices for Progress Software's stock. Their PRGS share price forecasts range from $52.00 to $65.00. On average, they expect the company's share price to reach $60.20 in the next year. This suggests a possible upside of 1.3% from the stock's current price.
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Progress Software's stock was trading at $50.45 on January 1st, 2023. Since then, PRGS shares have increased by 17.8% and is now trading at $59.44.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, June 27th 2023.
View our PRGS earnings forecast.

Progress Software Co. (NASDAQ:PRGS) posted its earnings results on Tuesday, March, 28th. The software maker reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.14. The software maker had revenue of $165.61 million for the quarter, compared to analyst estimates of $158.77 million. Progress Software had a trailing twelve-month return on equity of 41.56% and a net margin of 15.82%. The firm's revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share.

Progress Software declared a quarterly dividend on Friday, March 17th. Investors of record on Thursday, June 1st will be paid a dividend of $0.175 per share on Thursday, June 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, May 31st.
Read our dividend analysis for PRGS.

ETFs with the largest weight of Progress Software (NASDAQ:PRGS) stock in their portfolio include Direxion Work From Home ETF (WFH), Invesco S&P SmallCap Information Technology ETF (PSCT), WisdomTree U.S. Growth & Momentum Fund (WGRO), Small Cap US Equity Select ETF (RNSC), Invesco S&P SmallCap Low Volatility ETF (XSLV), Pacer US Small Cap Cash Cows 100 ETF (CALF), Invesco S&P SmallCap Momentum ETF (XSMO) and Hartford Longevity Economy ETF (HLGE).

Progress Software (NASDAQ:PRGS) pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.17%. The dividend payout ratio is 31.39%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 18.47% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRGS.

Progress Software updated its FY 2023 earnings guidance on Wednesday, March, 29th. The company provided earnings per share guidance of $4.09-$4.17 for the period, compared to the consensus estimate of $4.14. The company issued revenue guidance of $680.00 million-$688.00 million, compared to the consensus revenue estimate of $679.42 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 variety of retail and institutional investors. Top institutional investors include Boston Trust Walden Corp (3.85%), Segall Bryant & Hamill LLC (3.67%), Wellington Management Group LLP (3.42%), Dimensional Fund Advisors LP (3.06%), Renaissance Technologies LLC (2.46%) and Principal Financial Group Inc. (2.43%). 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, Yogesh K Gupta and Yufan Stephanie Wang.
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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 $59.44.

Progress Software (NASDAQ:PRGS) has a market capitalization of $2.57 billion and generates $602.01 million in revenue each year. The software maker earns $95.07 million in net income (profit) each year or $2.23 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.