Progress Software Corporation Company Profile (NASDAQ:PRGS)

About Progress Software Corporation (NASDAQ:PRGS)

Progress Software Corporation logoProgress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base. It is also focused on providing partners and direct end users with a path to develop and integrate cloud-based applications. Its solutions include Progress OpenEdge and Progress Corticon. The DCI segment is focused on its data assets, including the data integration components of its cloud offerings. Its solutions include Progress DataDirect Connect and Progress DataDirect Cloud. The AppDev business segment is focused on generating customers for its application development assets. Its solutions include Dev Tools, NativeScript, Dev Cloud, Telerik Platform, Test Studio, Sitefinity and Progress Rollbase. Its offerings span Web, mobile and data.

Industry, Sector and Symbol:
  • Sector: Computer and Technology
  • Industry: Software
  • Sub-Industry: Systems Software
  • Symbol: NASDAQ:PRGS
  • CUSIP: 74331210
  • Web:
  • Market Cap: $1.99 billion
  • Outstanding Shares: 47,807,000
Average Prices:
  • 50 Day Moving Avg: $37.59
  • 200 Day Moving Avg: $32.34
  • 52 Week Range: $26.23 - $41.82
  • Trailing P/E Ratio: N/A
  • Foreward P/E Ratio: 22.20
  • P/E Growth: 2.21
Sales & Book Value:
  • Annual Revenue: $399.22 million
  • Price / Sales: 5.00
  • Book Value: $8.19 per share
  • Price / Book: 5.10
  • Annual Dividend: $0.50
  • Dividend Yield: 1.4%
  • EBITDA: $133.41 million
  • Net Margins: -13.23%
  • Return on Equity: 20.30%
  • Return on Assets: 10.82%
  • Debt-to-Equity Ratio: 0.28%
  • Current Ratio: 1.27%
  • Quick Ratio: 1.27%
  • Average Volume: 414,678 shs.
  • Beta: 0.69
  • Short Ratio: 1.85

Frequently Asked Questions for Progress Software Corporation (NASDAQ:PRGS)

What is Progress Software Corporation's stock symbol?

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

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

Progress Software Corporation declared a quarterly dividend on Tuesday, September 12th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.14 per share on Friday, December 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Progress Software Corporation's previous quarterly dividend of $0.13. View Progress Software Corporation's Dividend History.

How will Progress Software Corporation's stock buyback program work?

Progress Software Corporation announced that its board has authorized a stock buyback plan on Thursday, September 28th 2017, which authorizes the company to buyback $159,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

How were Progress Software Corporation's earnings last quarter?

Progress Software Corporation (NASDAQ:PRGS) posted its quarterly earnings data on Wednesday, September, 27th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.40 by $0.08. The firm had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.60 million. Progress Software Corporation had a negative net margin of 13.23% and a positive return on equity of 20.30%. Progress Software Corporation's quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. View Progress Software Corporation's Earnings History.

When will Progress Software Corporation make its next earnings announcement?

Progress Software Corporation is scheduled to release their next quarterly earnings announcement on Monday, January, 15th 2018. View Earnings Estimates for Progress Software Corporation.

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

Progress Software Corporation issued an update on its FY17 earnings guidance on Wednesday, September, 27th. The company provided earnings per share guidance of $1.82 - $1.85 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.80. The company issued revenue guidance of $394 - $397, compared to the consensus revenue estimate of $396.02 million.Progress Software Corporation also updated its Q4 guidance to $0.58 - $0.61 EPS.

Where is Progress Software Corporation's stock going? Where will Progress Software Corporation's stock price be in 2017?

4 equities research analysts have issued twelve-month price objectives for Progress Software Corporation's shares. Their forecasts range from $32.00 to $42.00. On average, they expect Progress Software Corporation's share price to reach $36.00 in the next twelve months. View Analyst Ratings for Progress Software Corporation.

Who are some of Progress Software Corporation's key competitors?

Who are Progress Software Corporation's key executives?

Progress Software Corporation's management team includes the folowing people:

  • Yogesh K. Gupta, President, Chief Executive Officer, Director
  • Paul Jalbert, Chief Financial Officer
  • Jerry Rulli, Chief Operating Officer
  • Faris Sweis, Senior Vice President and General Manager of Dev Tools/Telerik Platform
  • John Ainsworth, Senior Vice President, Products--Core
  • Dmitri Tcherevik, Chief Technology Officer
  • Loren Jarrett, Chief Marketing Officer
  • Stephen Faberman, Chief Legal Counsel
  • Dimitre Taslakov, Chief Talent Officer
  • John R. Egan, Independent Non-Executive Chairman of the Board

Who owns Progress Software Corporation stock?

Progress Software Corporation's stock is owned by a number of of institutional and retail investors. Top institutional investors include PRAESIDIUM INVESTMENT MANAGEMENT COMPANY, LLC (9.10%) and PRAESIDIUM INVESTMENT MANAGEMENT COMPANY, LLC (8.80%). Company insiders that own Progress Software Corporation stock include Barry N Bycoff, Charles Francis Kane, David Krall, Michael Mark, Paul A Jalbert, Praesidium Investment Manageme and Ram Gupta. View Institutional Ownership Trends for Progress Software Corporation.

How do I buy Progress Software Corporation stock?

Shares of Progress Software Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is Progress Software Corporation's stock price today?

One share of Progress Software Corporation stock can currently be purchased for approximately $41.73.

MarketBeat Community Rating for Progress Software Corporation (NASDAQ PRGS)
Community Ranking:  2.1 out of 5 (star star)
Outperform Votes:  168 (Vote Outperform)
Underperform Votes:  237 (Vote Underperform)
Total Votes:  405
MarketBeat's community ratings are surveys of what our community members think about Progress Software Corporation and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.

Analyst Ratings

Consensus Ratings for Progress Software Corporation (NASDAQ:PRGS) (How are Consensus Ratings Calculated?)
Ratings Breakdown: 3 Hold Ratings, 1 Buy Rating
Consensus Rating:Hold (Score: 2.25)
Consensus Price Target: $36.00 (13.73% downside)
Consensus Price Target History for Progress Software Corporation (NASDAQ:PRGS)
Price Target History for Progress Software Corporation (NASDAQ:PRGS)
Analysts' Ratings History for Progress Software Corporation (NASDAQ:PRGS)
DateFirmActionRatingPrice TargetImpact on Share PriceDetails
9/18/2017WedbushReiterated RatingNeutral$32.00LowView Rating Details
9/13/2017Benchmark Co.Reiterated RatingBuy -> Buy$34.00 -> $42.00MediumView Rating Details
12/30/2016ArgusReiterated RatingHoldN/AView Rating Details
12/29/2016SidotiInitiated CoverageNeutral$34.00N/AView Rating Details
10/15/2016Citigroup Inc.Reiterated RatingNeutralN/AView Rating Details
9/13/2016Ladenburg Thalmann Financial ServicesDowngradeBuy -> NeutralN/AView Rating Details
7/3/2016JMP SecuritiesReiterated RatingHoldN/AView Rating Details
3/31/2016Sandler O'NeillReiterated RatingHold$25.00 -> $24.00N/AView Rating Details
3/18/2016Deutsche Bank AGReiterated RatingSell$28.00 -> $29.00N/AView Rating Details
1/20/2016Sanford C. BernsteinReiterated RatingMarket PerformN/AView Rating Details
11/16/2015Goldman Sachs Group, Inc. (The)DowngradeNeutral -> Sell$28.00N/AView Rating Details
11/6/2015Credit Suisse GroupDowngradeNeutral -> Underperform$28.00 -> $29.00N/AView Rating Details
(Data available from 10/19/2015 forward)


Earnings History for Progress Software Corporation (NASDAQ:PRGS)
Earnings by Quarter for Progress Software Corporation (NASDAQ:PRGS)
Earnings History by Quarter for Progress Software Corporation (NASDAQ PRGS)
DateQuarterConsensus EstimateActual EPSRevenue EstimateActual RevenueRelease LinkConference CallDetails
9/27/2017Q3 2017$0.40$0.48$97.60 million$97.60 millionViewN/AView Earnings Details
6/28/2017Q2 17$0.37$0.42$91.53 million$93.20 millionViewN/AView Earnings Details
3/29/2017Q1 2017$0.26$0.34$87.48 million$91.20 millionViewN/AView Earnings Details
1/16/2017Q4 2016$0.56$0.62$123.51 million$118.00 millionViewN/AView Earnings Details
9/28/2016Q316$0.45$0.44$104.72 million$102.00 millionViewListenView Earnings Details
6/29/2016Q216$0.29$0.33$95.30 million$96.12 millionViewListenView Earnings Details
3/30/2016Q116$0.29$0.27$93.15 million$89.50 millionViewListenView Earnings Details
1/12/2016Q415$0.49$0.53$114.90 million$112.72 millionViewListenView Earnings Details
10/1/2015Q315$0.37$0.39$100.70 millionViewListenView Earnings Details
7/1/2015Q215$0.32$0.35$98.90 million$88.82 millionViewListenView Earnings Details
4/1/2015Q115$0.24$0.29$94.40 million$95.50 millionViewListenView Earnings Details
1/13/2015Q414$0.44$0.47$96.44 million$97.90 millionViewN/AView Earnings Details
9/25/2014Q314$0.33$0.39$79.90 million$79.27 millionViewListenView Earnings Details
6/26/2014Q214$0.34$0.37$78.46 million$80.80 millionViewN/AView Earnings Details
3/27/2014Q114$0.28$0.28$74.75 million$74.50 millionViewN/AView Earnings Details
1/2/2014Q4$0.41$0.43$90.84 million$91.00 millionViewListenView Earnings Details
9/25/2013Q313$0.24$0.27$76.70 million$77.60 millionViewN/AView Earnings Details
6/26/2013Q2 2013$0.22$0.27$79.04 million$81.70 millionViewN/AView Earnings Details
3/27/2013Q1 2013$0.25$0.23$86.30 million$89.27 millionViewN/AView Earnings Details
1/3/2013Q4 2012$0.33$0.23$116.31 million$91.30 millionViewN/AView Earnings Details
6/27/2012$0.17$0.21ViewN/AView Earnings Details
3/28/2012$0.25$0.28ViewN/AView Earnings Details
1/3/2012$0.33$0.34ViewN/AView Earnings Details
9/27/2011$0.29$0.31ViewN/AView Earnings Details
6/28/2011$0.38$0.38ViewN/AView Earnings Details
3/28/2011$0.42$0.42ViewN/AView Earnings Details
12/21/2010$0.66$0.71$141.53 million$145.20 millionViewN/AView Earnings Details
(Data available from 1/1/2011 forward)


Earnings Estimates for Progress Software Corporation (NASDAQ:PRGS)
2017 EPS Consensus Estimate: $1.44
2018 EPS Consensus Estimate: $1.63
QuarterNumber of EstimatesLow EstimateHigh EstimateAverage Estimate
Q1 20171$0.20$0.20$0.20
Q2 20171$0.30$0.30$0.30
Q3 20171$0.40$0.40$0.40
Q4 20171$0.54$0.54$0.54
Q1 20181$0.34$0.34$0.34
Q2 20181$0.37$0.37$0.37
Q3 20181$0.39$0.39$0.39
Q4 20181$0.53$0.53$0.53
(Data provided by Zacks Investment Research)


Current Dividend Information for Progress Software Corporation (NASDAQ:PRGS)
Next Dividend:12/15/2017
Annual Dividend:$0.50
Dividend Yield:1.20%
Payout Ratio:-45.87% (Trailing 12 Months of Earnings)
27.03% (Based on This Year's Estimates)
26.60% (Based on Next Year's Estimates)
Dividend Payments by Quarter for Progress Software Corporation (NASDAQ:PRGS)

Dividend History by Quarter for Progress Software Corporation (NASDAQ PRGS)
AnnouncedPeriodAmountYieldEx-Dividend DateRecord DatePayable Date
(Data available from 1/1/2013 forward)

Insider Trades

Insider Trading and Institutional Ownership History for Progress Software Corporation (NASDAQ:PRGS)
Insider Ownership Percentage: 2.50%
Institutional Ownership Percentage: 92.20%
Insider Trades by Quarter for Progress Software Corporation (NASDAQ:PRGS)
Institutional Ownership by Quarter for Progress Software Corporation (NASDAQ:PRGS)
Insider Trades by Quarter for Progress Software Corporation (NASDAQ:PRGS)
Transaction DateInsider NameTitleBuy/SellNumber of SharesAverage Share PriceTotal TransactionDetails
2/3/2017Praesidium Investment ManagemeMajor ShareholderSell100,000$27.94$2,794,000.00View SEC Filing  
1/4/2017Praesidium Investment ManagemeMajor ShareholderSell850,000$30.81$26,188,500.00View SEC Filing  
9/12/2016Praesidium Investment ManagemeMajor ShareholderSell900,000$28.11$25,299,000.00View SEC Filing  
7/11/2016Paul A JalbertCAOSell21,041$28.93$608,716.13View SEC Filing  
6/10/2016Ram GuptaDirectorSell4,764$26.35$125,531.40View SEC Filing  
5/10/2016Barry N BycoffDirectorSell5,664$25.27$143,129.28View SEC Filing  
4/28/2016Michael MarkDirectorSell7,705$26.13$201,331.65View SEC Filing  
4/25/2016Charles Francis KaneDirectorSell10,000$26.13$261,300.00View SEC Filing  
4/20/2016David KrallDirectorSell7,705$26.04$200,638.20View SEC Filing  
4/13/2016Michael MarkDirectorSell8,497$25.25$214,549.25View SEC Filing  
2/17/2016Barry N. BycoffDirectorSell17,796$24.18$430,307.28View SEC Filing  
7/6/2015David A BensonEVPSell22,500$30.24$680,400.00View SEC Filing  
7/6/2015Michael MarkDirectorSell16,270$30.30$492,981.00View SEC Filing  
7/6/2015Stephen H FabermanSVPSell4,500$30.35$136,575.00View SEC Filing  
4/24/2015John GoodsonSVPSell13,504$26.18$353,534.72View SEC Filing  
2/5/2015Barry N BycoffDirectorSell11,418$26.01$296,982.18View SEC Filing  
1/16/2015Antonio J AquilinaSVPSell12,261$25.10$307,751.10View SEC Filing  
1/15/2015Philip M PeadCEOSell20,000$24.92$498,400.00View SEC Filing  
11/4/2014David KrallDirectorSell43,798$25.95$1,136,558.10View SEC Filing  
10/31/2014John GoodsonSVPSell22,500$25.73$578,925.00View SEC Filing  
7/22/2014Michael MarkDirectorSell14,252$23.82$339,482.64View SEC Filing  
7/21/2014Michael MarkDirectorSell9,252$23.74$219,642.48View SEC Filing  
7/7/2014Joseph AndrewsSVPSell7,500$23.91$179,325.00View SEC Filing  
7/1/2014John GoodsonSVPSell32,856$24.27$797,415.12View SEC Filing  
6/30/2014Joseph AndrewsSVPSell21,874$24.03$525,632.22View SEC Filing  
6/30/2014Michael MarkDirectorSell8,550$24.05$205,627.50View SEC Filing  
4/16/2014Antonio AquilinaSVPSell9,146$21.74$198,834.04View SEC Filing  
4/2/2014Ram GuptaDirectorSell18,160$22.20$403,152.00View SEC Filing  
2/13/2014Joseph AndrewsSVPSell7,500$24.50$183,750.00View SEC Filing  
2/10/2014Barry BycoffDirectorSell18,578$24.00$445,872.00View SEC Filing  
1/23/2014Barry BycoffDirectorSell18,922$24.58$465,102.76View SEC Filing  
11/7/2013Charles Francis KaneDirectorSell15,000$25.85$387,750.00View SEC Filing  
8/6/2013Jennifer SmithCMOSell2,533$25.75$65,224.75View SEC Filing  
8/1/2013Joseph AndrewsSVPSell11,250$25.85$290,812.50View SEC Filing  
7/9/2013Barry N BycoffDirectorSell42,154$24.50$1,032,773.00View SEC Filing  
(Data available from 1/1/2013 forward)


Headline Trends for Progress Software Corporation (NASDAQ:PRGS)
Latest Headlines for Progress Software Corporation (NASDAQ:PRGS)
DateHeadline logoProgress Software Corp. :PRGS-US: Earnings Analysis: Q3, 2017 By the Numbers : October 12, 2017 - October 14 at 6:58 AM logoETFs with exposure to Progress Software Corp. : October 13, 2017 - October 14 at 6:58 AM logoSurging Earnings Estimates Signal Good News for Progress Software (PRGS) - October 10 at 2:28 AM logoHead-To-Head Analysis: Progress Software Corporation (PRGS) and Callidus Software (CALD) - October 7 at 8:38 AM logoWhy Progress Software Stock Gained 14% in September - October 5 at 5:28 PM logoQ4 2017 Earnings Estimate for Progress Software Corporation (PRGS) Issued By Wedbush - October 2 at 4:56 AM logoFinancial Review: Progress Software Corporation (PRGS) and Its Competitors - October 1 at 10:22 AM logoProgress Software Corporation (PRGS) Receives Consensus Rating of "Hold" from Analysts - September 30 at 2:46 AM logoAnalyzing Progress Software Corporation (PRGS) and Merge Healthcare (MRGE) - September 29 at 10:10 PM logoStock Buyback Plan Approved by Progress Software Corporation (PRGS) Board - September 28 at 11:28 AM logoProgress Software Corp Q3 Income Climbs 12% - September 28 at 1:26 AM logoProgress Software's (PRGS) CEO Yogesh Gupta on Q3 2017 Results - Earnings Call Transcript - September 28 at 1:25 AM logoProgress Software Corporation (PRGS) Posts Earnings Results, Beats Expectations By $0.01 EPS - September 27 at 6:11 PM logoProgress Software Corporation (PRGS) Updates Q4 Earnings Guidance - September 27 at 5:02 PM logoProgress Software Corporation (PRGS) Releases FY17 Earnings Guidance - September 27 at 5:02 PM logoInvestor Network: Progress Software Corporation to Host Earnings Call - September 27 at 4:22 PM logoShould You Buy Progress Software Corporation (PRGS)? - September 26 at 7:01 PM logoActivist investor to Progress Software: 'We’re not going away' - September 22 at 2:08 PM logoProgress Software Announces Details for Fiscal Third Quarter 2017 Earnings Release and Conference Call - September 22 at 2:08 PM logoProgress Software Comments on Letter from Praesidium Investment Management - September 20 at 7:55 AM logoProgress Software rejects activist investor's demands - September 20 at 7:55 AM logoProgress Software pushes back against activist demands - September 20 at 7:55 AM logoProgress Continues to Drive Innovation and Investment in .NET with New Telerik Tools and .NET Foundation Contribution - September 20 at 7:55 AM logoProgress Software Corporation (PRGS) to Release Quarterly Earnings on Wednesday - September 20 at 1:02 AM logoProgress’ 2017 Data Connectivity Market Survey Indicates Significant Rise in Adoption of SaaS, Data Security, Open Analytics and Data Standards - September 19 at 6:41 AM logoProgress Software Corporation (PRGS) Receives Neutral Rating from Wedbush - September 18 at 9:00 AM logoInvestor Praesidium asks Progress Software chairman to step down - September 16 at 7:57 AM logoFY2018 EPS Estimates for Progress Software Corporation (PRGS) Lifted by Analyst - September 15 at 1:46 PM logoBrokers Set Expectations for Progress Software Corporation's Q3 2017 Earnings (PRGS) - September 14 at 6:36 AM logoCritical Analysis: eFuture Holding (EFUT) and Progress Software Corporation (PRGS) - September 13 at 6:22 PM logoProgress Software Corporation (PRGS) Stock Rating Reaffirmed by Benchmark Co. - September 13 at 6:04 PM logoStocks With Rising Relative Price Strength: Progress Software - September 13 at 7:57 AM logoProgress Adds Support for React and Vue in Newest Release of Kendo UI - September 13 at 7:57 AM logoProgress Software Announces Preliminary Financial Results for Fiscal Q3 2017; Better-Than-Expected Q3 Revenues and Diluted Earnings Per Share; Board of Directors Raises ... - September 12 at 8:49 AM logoProgress Software Hikes Dividend; To Discuss Strategy With Shareholders - September 12 at 8:49 AM logoProgress Software Announces Preliminary Financial Results for Fiscal Q3 2017; Better-Than-Expected Q3 Revenues and Diluted Earnings Per Share; Board of Directors Raises Quarterly Dividend 12% - September 12 at 8:49 AM logoProgress Software preliminary earnings and revenue beat, dividend raised - September 12 at 8:49 AM logoProgress Software Corporation (PRGS) Announces Dividend Increase - $0.14 Per Share - September 12 at 8:32 AM logoCritical Comparison: Determine (DTRM) & Progress Software Corporation (PRGS) - September 6 at 2:09 AM logoProgress Software Corporation (PRGS) Receives Consensus Recommendation of "Hold" from Analysts - September 5 at 2:40 AM logoSee what the IHS Markit Score report has to say about Progress Software Corp. - August 13 at 4:01 AM logoProgress Software Corporation (PRGS) Receives Consensus Recommendation of "Hold" from Brokerages - August 11 at 11:22 AM logoContrasting Progress Software Corporation (PRGS) and EnerNOC (ENOC) - August 4 at 2:26 PM logoProgress Releases Kendo UI Builder 2.0, Delivering the New Face of OpenEdge Web Experience - August 3 at 7:04 AM logoProgress: A Case Study In The Productization Of Cognitive-First Applications - July 29 at 6:29 AM logoTop Libraries Worldwide, Including Library of Congress, Harvard University Depository, and Oxford University Leverage Progress to Ensure Easy Access to Research and Documentation - July 18 at 7:33 AM logoProgress Software Corporation (NASDAQ:PRGS) Given Consensus Rating of "Buy" by Analysts - July 17 at 11:29 AM logoEarnings Review and Free Research Report: Progress Software’s Quarterly Earnings Soared 27% - July 12 at 7:06 AM logoETFs with exposure to Progress Software Corp. : July 11, 2017 - July 12 at 7:06 AM logoalphabroder Achieves Customer Service Excellence with Progress - July 11 at 6:48 AM



Progress Software Corporation (PRGS) Chart for Thursday, October, 19, 2017

This page was last updated on 10/19/2017 by Staff

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