NASDAQ:PRGS - Progress Software Stock Price, News, & Analysis

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$32.92 -0.24 (-0.72 %)
(As of 11/16/2018 09:30 AM ET)
Previous Close$33.16
Today's Range$32.92 - $32.92
52-Week Range$30.23 - $53.60
Volume56 shs
Average Volume316,235 shs
Market Capitalization$1.45 billion
P/E Ratio19.14
Dividend Yield1.73%
Beta0.88
Progress Software Corporation provides software solutions for various industries worldwide. It operates through 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; DataRPM, which provides maintenance solutions for industrial IoT; and Kinvey that offers cloud backend as a service technology. 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; NativeScript, an open-source application development platform; Test Studio, an application lifecycle management suite for testing Web, mobile, and desktop applications; and Sitefinity, a Web content management and customer analytics platform. 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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Industry, Sector and Symbol

Stock Exchange NASDAQ
Industry Prepackaged software
Sub-IndustrySystems Software
SectorComputer and Technology
Current SymbolNASDAQ:PRGS
Previous Symbol
CUSIP74331210
Phone781-280-4000

Debt

Debt-to-Equity Ratio0.37
Current Ratio1.05
Quick Ratio1.05

Price-To-Earnings

Trailing P/E Ratio19.14
Forward P/E Ratio15.38
P/E GrowthN/A

Sales & Book Value

Annual Sales$397.57 million
Price / Sales3.72
Cash Flow$2.6830 per share
Price / Cash12.27
Book Value$7.87 per share
Price / Book4.18

Profitability

EPS (Most Recent Fiscal Year)$1.72
Net Income$37.41 million
Net Margins15.30%
Return on Equity28.94%
Return on Assets14.54%

Miscellaneous

Employees1,470
Outstanding Shares44,900,000
Market Cap$1.45 billion
OptionableOptionable

Progress Software (NASDAQ:PRGS) Frequently Asked Questions

What is Progress Software's stock symbol?

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

How often does Progress Software pay dividends? What is the dividend yield for Progress Software?

Progress Software declared a quarterly dividend on Thursday, September 27th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.155 per share on Monday, December 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, November 30th. This is a positive change from Progress Software's previous quarterly dividend of $0.14. View Progress Software's Dividend History.

How will Progress Software's stock buyback program work?

Progress Software declared that its Board of Directors has approved a stock repurchase program on Thursday, September 28th 2017, which allows the company to buyback $159,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

How were Progress Software's earnings last quarter?

Progress Software Corp (NASDAQ:PRGS) issued its quarterly earnings results on Thursday, September, 27th. The software maker reported $0.60 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.58 by $0.02. The software maker had revenue of $95.79 million for the quarter, compared to the consensus estimate of $96.98 million. Progress Software had a return on equity of 28.94% and a net margin of 15.30%. The business's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. View Progress Software's Earnings History.

When is Progress Software's next earnings date?

Progress Software is scheduled to release their next quarterly earnings announcement on Wednesday, January 9th 2019. View Earnings Estimates for Progress Software.

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

Progress Software issued an update on its fourth quarter earnings guidance on Thursday, September, 27th. The company provided earnings per share guidance of $0.71-0.74 for the period, compared to the Thomson Reuters consensus estimate of $0.78. The company issued revenue guidance of $107-110 million, compared to the consensus revenue estimate of $116.67 million.

What price target have analysts set for PRGS?

4 Wall Street analysts have issued 1 year price targets for Progress Software's shares. Their predictions range from $29.00 to $50.00. On average, they expect Progress Software's share price to reach $39.00 in the next twelve months. This suggests a possible upside of 17.6% from the stock's current price. View Analyst Price Targets for Progress Software.

What is the consensus analysts' recommendation for Progress Software?

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 2 hold ratings and 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Progress Software.

What are Wall Street analysts saying about Progress Software stock?

Here are some recent quotes from research analysts about Progress Software stock:
  • 1. According to Zacks Investment Research, "Progress offers the leading platform for developing and deploying mission-critical business applications. Progress empowers enterprises and ISVs to build and deliver cognitive-first applications that harness big data to derive business insights and competitive advantage. Progress offers leading technologies for easily building powerful user interfaces across any type of device, a reliable, scalable and secure backend platform to deploy modern applications, leading data connectivity to all sources, and award-winning predictive analytics that brings the power of machine learning to any organization. " (10/4/2018)
  • 2. National Securities analysts commented, "We are initiating coverage of Progress Software with a BUY rating and $50 price target.
    Current management brings a shareholder friendly posture.
    We expect Industrial IoT (IIoT) will be a notable contributor to future growth.
    The F2017 acquisitions of DataRPM and Kinvey were well reasoned and likely to benefit shareholders." (7/16/2018)

Has Progress Software been receiving favorable news coverage?

Press coverage about PRGS stock has trended neutral recently, InfoTrie reports. The research group identifies negative and positive press coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of -5 to 5, with scores closest to five being the most favorable. Progress Software earned a news impact score of 0.3 on InfoTrie's scale. They also assigned headlines about the software maker a news buzz of 7.0 out of 10, meaning that recent press coverage is likely to have an effect on the company's share price in the near term.

Who are some of Progress Software's key competitors?

Who are Progress Software's key executives?

Progress Software's management team includes the folowing people:
  • Mr. Yogesh Gupta, CEO, Pres & Director (Age 57)
  • Mr. Paul A. Jalbert, Chief Financial Officer (Age 61)
  • Mr. Dmitri Tcherevik, Chief Technology Officer (Age 48)
  • Ms. Loren Weinberg Jarrett, Chief Marketing Officer (Age 43)
  • Mr. John Ainsworth, Sr. VP of Core Products (Age 53)

Who are Progress Software's major shareholders?

Progress Software's stock is owned by a variety of of institutional and retail investors. Top institutional investors include BlackRock Inc. (15.93%), Dimensional Fund Advisors LP (3.99%), Acadian Asset Management LLC (3.44%), Man Group plc (2.94%), Renaissance Technologies LLC (2.49%) and Fisher Asset Management LLC (2.36%). Company insiders that own Progress Software stock include Dimitre Taslakov, Michael Mark and Praesidium Investment Manageme. View Institutional Ownership Trends for Progress Software.

Which major investors are selling Progress Software stock?

PRGS stock was sold by a variety of institutional investors in the last quarter, including Bessemer Group Inc., Fisher Asset Management LLC, Citadel Advisors LLC, Renaissance Technologies LLC, Allianz Asset Management GmbH, Chicago Equity Partners LLC, Prudential Financial Inc. and Credit Suisse AG. Company insiders that have sold Progress Software company stock in the last year include Dimitre Taslakov and Michael Mark. View Insider Buying and Selling for Progress Software.

Which major investors are buying Progress Software stock?

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Acadian Asset Management LLC, MERIAN GLOBAL INVESTORS UK Ltd, Heartland Advisors Inc., Fuller & Thaler Asset Management Inc., BlackRock Inc., AQR Capital Management LLC, American Century Companies Inc. and AMS Capital Ltda. View Insider Buying and Selling 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, Scottrade, Fidelity and Charles Schwab.

What is Progress Software's stock price today?

One share of PRGS stock can currently be purchased for approximately $33.16.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.45 billion and generates $397.57 million in revenue each year. The software maker earns $37.41 million in net income (profit) each year or $1.72 on an earnings per share basis. Progress Software employs 1,470 workers across the globe.

What is Progress Software's official website?

The official website for Progress Software is http://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]


MarketBeat Community Rating for Progress Software (NASDAQ PRGS)

Community Ranking:  2.2 out of 5 (star star)
Outperform Votes:  271 (Vote Outperform)
Underperform Votes:  333 (Vote Underperform)
Total Votes:  604
MarketBeat's community ratings are surveys of what our community members think about Progress Software and other stocks. Vote "Outperform" if you believe PRGS will outperform the S&P 500 over the long term. Vote "Underperform" if you believe PRGS will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 11/16/2018 by MarketBeat.com Staff

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