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

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

Progress Software announced a quarterly dividend on Tuesday, January 21st. Investors of record on Monday, March 2nd will be given a dividend of $0.165 per share on Monday, March 16th. This represents a $0.66 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, February 28th. View Progress Software's Dividend History.

Progress Software announced that its board has initiated a share repurchase plan on Thursday, January 16th 2020, which authorizes the company to buyback $250,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to purchase up to 11.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Progress Software Corp (NASDAQ:PRGS) issued its earnings results on Thursday, January, 16th. The software maker reported $0.79 EPS for the quarter, topping the Zacks' consensus estimate of $0.75 by $0.04. The software maker had revenue of $123.42 million for the quarter, compared to analysts' expectations of $118.30 million. Progress Software had a net margin of 6.39% and a return on equity of 32.03%. The business's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 EPS. View Progress Software's Earnings History.

Progress Software is scheduled to release their next quarterly earnings announcement on Thursday, March 26th 2020. View Earnings Estimates for Progress Software.

Progress Software issued an update on its FY20 earnings guidance on Thursday, January, 16th. The company provided EPS guidance of $2.87-2.92 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.83. The company issued revenue guidance of $448-455 million, compared to the consensus revenue estimate of $435.22 million.

4 analysts have issued 12-month target prices for Progress Software's stock. Their forecasts range from $50.00 to $57.00. On average, they expect Progress Software's share price to reach $53.00 in the next year. This suggests a possible upside of 17.7% from the stock's current price. View Analyst Price Targets for Progress Software.

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

Media stories about PRGS stock have been trending very negative on Monday, according to InfoTrie Sentiment. InfoTrie ranks the sentiment of 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 -5 to 5, with scores closest to five being the most favorable. Progress Software earned a media sentiment score of -3.0 on InfoTrie's scale. They also gave news headlines 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 company's share price in the near future. View News Stories for Progress Software.

Progress Software saw a decrease in short interest during the month of January. As of January 31st, there was short interest totalling 753,600 shares, a decrease of 20.0% from the January 15th total of 942,300 shares. Based on an average daily volume of 300,500 shares, the short-interest ratio is currently 2.5 days. Approximately 1.7% of the shares of the stock are short sold. View Progress Software's Current Options Chain.

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), TiVo (TIVO) and FalconStor Software (FALC).

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Energy Transfer LP Unit (ET), Intel (INTC), Advanced Micro Devices (AMD), Micron Technology (MU), Pfizer (PFE), Alibaba Group (BABA), Verizon Communications (VZ), Cisco Systems (CSCO), Cypress Semiconductor (CY) and JD.Com (JD).

Progress Software's stock is owned by a number of of retail and institutional investors. Top institutional investors include Renaissance Technologies LLC (4.06%), Acadian Asset Management LLC (3.49%), State Street Corp (3.10%), Boston Trust Walden Corp (1.69%), Prudential Financial Inc. (1.56%) and Bank of New York Mellon Corp (1.43%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan, Michael Mark 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 Russell Investments Group Ltd., Robeco Institutional Asset Management B.V., MERIAN GLOBAL INVESTORS UK Ltd, MERIAN GLOBAL INVESTORS UK Ltd, Bank of New York Mellon Corp, DekaBank Deutsche Girozentrale, Prudential Financial Inc. and AQR Capital Management LLC. Company insiders that have sold Progress Software company stock in the last year include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan and Paul A Jalbert. View Insider Buying and Selling for Progress Software.

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Schroder Investment Management Group, Renaissance Technologies LLC, Goldman Sachs Group Inc., California Public Employees Retirement System, AJO LP, Amundi Pioneer Asset Management Inc., Great West Life Assurance Co. Can and Bank of America Corp DE. View Insider Buying and Selling 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 $45.04.

Progress Software has a market capitalization of $2.03 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.View Additional Information About Progress Software.

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