NASDAQ:PRGSProgress Software Stock Price, Forecast & News

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, PRGS shares have increased by 12.9% and is now trading at $36.79.
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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.
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Progress Software Corp (NASDAQ:PRGS) released its quarterly earnings results on Thursday, June, 25th. The software maker reported $0.63 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.64 by $0.01. The software maker had revenue of $102.51 million for the quarter, compared to the consensus estimate of $99.17 million. Progress Software had a return on equity of 34.66% and a net margin of 10.81%. The company's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS.
View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Monday, June 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.165 per share on Tuesday, September 15th. This represents a $0.66 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Monday, August 31st.
View Progress Software's dividend history.

Progress Software declared that its Board of Directors has authorized a share repurchase program on Thursday, January 16th 2020, which permits the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization permits the company to buy up to 11.9% of its stock through open market purchases. Stock buyback programs are usually 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 brokers have issued 12 month target prices 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 25.0% from the stock's current price.
View analysts' price targets for Progress Software.

Media headlines about PRGS stock have been trending somewhat negative this week, InfoTrie reports. The research group identifies positive and negative media coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Progress Software earned a media sentiment score of -1.4 on InfoTrie's scale. They also assigned news stories about the software maker a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the stock's share price in the near term.
View the latest news about Progress Software.

Progress Software saw a drop in short interest in January. As of January 15th, there was short interest totaling 753,600 shares, a drop of 20.0% from the December 31st total of 942,300 shares. Based on an average daily trading volume, of 300,500 shares, the short-interest ratio is currently 2.5 days. Approximately 1.7% 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 Broadcom (AVGO).

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

Progress Software's stock is owned by a number of retail and institutional investors. Top institutional shareholders include Boston Trust Walden Corp (2.14%), Fisher Asset Management LLC (1.51%), Principal Financial Group Inc. (0.87%), Chartwell Investment Partners LLC (0.79%), Russell Investments Group Ltd. (0.49%) and MERIAN GLOBAL INVESTORS UK Ltd (0.41%). 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 MERIAN GLOBAL INVESTORS UK Ltd, Great Lakes Advisors LLC, Robeco Institutional Asset Management B.V., Seizert Capital Partners LLC, Fisher Asset Management LLC, UBS Group AG, Dupont Capital Management Corp, and SG Americas Securities 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 acquired by a variety of institutional investors in the last quarter, including Boston Trust Walden Corp, Bessemer Group Inc., Principal Financial Group Inc., Rafferty Asset Management LLC, Envestnet Asset Management Inc., Swiss National Bank, Assenagon Asset Management S.A., and Chartwell Investment Partners LLC.
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 $36.79.

Progress Software has a market capitalization of $1.65 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]