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NASDAQ:PRGS

Progress Software Stock Forecast, Price & News

$48.63
+0.18 (+0.37%)
(As of 12/1/2021 03:40 PM ET)
Add
Compare
Today's Range
$48.37
$49.70
50-Day Range
$45.21
$53.18
52-Week Range
$39.86
$53.99
Volume
14,300 shs
Average Volume
358,359 shs
Market Capitalization
$2.13 billion
P/E Ratio
26.87
Dividend Yield
1.41%
Beta
1.17
30 days | 90 days | 365 days | Advanced Chart
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Progress Software logo

About Progress Software

Progress Software Corp. engages in the provision of a platform, which develops and deploys mission-critical business applications. It operates through the following segments: OpenEdge, Data Connectivity and Integration and Application Development and Deployment. The OpenEdge segment provides product enhancements and marketing supports for the partners to sell more of its existing solutions to their customers. The Data Connectivity and Integration segment focuses on the growth of the data assets of the company, including its data integration components of the cloud offering. The Application Development and Deployment segment generates net customers for the application development assets of the company. The company was founded by Joseph Wright Alsop, Clyde Kessel and Charles Arthur Ziering in 1981 and is headquartered in Bedford, MA.

Headlines

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Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Systems Software
Current Symbol
NASDAQ:PRGS
CUSIP
74331210
Employees
1,796
Year Founded
1981

Sales & Book Value

Annual Sales
$442.15 million
Cash Flow
$3.26 per share
Book Value
$7.67 per share

Profitability

Net Income
$79.72 million
Pretax Margin
19.08%

Debt

Price-To-Earnings

Miscellaneous

Free Float
42,703,000
Market Cap
$2.13 billion
Optionable
Optionable

Company Calendar

Last Earnings
9/22/2021
Ex-Dividend
11/30/2021
Today
12/01/2021
Dividend Payable
12/15/2021
Next Earnings (Estimated)
1/13/2022
Fiscal Year End
11/30/2022

Social Links


MarketRank

Overall MarketRank

2.46 out of 5 stars

Computer And Technology Sector

173rd out of 892 stocks

Prepackaged Software Industry

41st out of 266 stocks

Analyst Opinion: 2.4Community Rank: 4.3Dividend Strength: 2.5Insider Behavior: 2.5Valuation: 0.6 5 -4 -3 -2 -1 -












Progress Software (NASDAQ:PRGS) Frequently Asked Questions

Is Progress Software a buy right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last twelve months. There are currently 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" Progress Software stock.
View analyst ratings for Progress Software
or view top-rated stocks.

How has Progress Software's stock been impacted by COVID-19 (Coronavirus)?

Progress Software's stock was trading at $32.60 on March 11th, 2020 when COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization. Since then, PRGS shares have increased by 48.7% and is now trading at $48.49.
View which stocks have been most impacted by COVID-19
.

When is Progress Software's next earnings date?

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, January 13th 2022.
View our earnings forecast for Progress Software
.

How were Progress Software's earnings last quarter?

Progress Software Co. (NASDAQ:PRGS) posted its earnings results on Wednesday, September, 22nd. The software maker reported $1.18 EPS for the quarter, beating the Zacks' consensus estimate of $0.82 by $0.36. The software maker had revenue of $152.60 million for the quarter, compared to analysts' expectations of $131.07 million. Progress Software had a trailing twelve-month return on equity of 41.16% and a net margin of 15.80%. The firm's quarterly revenue was up 37.6% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share.
View Progress Software's earnings history
.

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

Progress Software declared a quarterly dividend on Tuesday, September 21st. Investors of record on Wednesday, December 1st will be given a dividend of $0.175 per share on Wednesday, December 15th. This represents a $0.70 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, November 30th.
View Progress Software's dividend history
.

Is Progress Software a good dividend stock?

Progress Software pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.41%. Progress Software has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio of Progress Software is 38.67%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Progress Software will have a dividend payout ratio of 22.29% next year. This indicates that Progress Software will be able to sustain or increase its dividend.
View Progress Software's dividend history.

How will Progress Software's stock buyback program work?

Progress Software declared that its Board of Directors has authorized a share repurchase program on Thursday, January 16th 2020, which authorizes the company to repurchase $250,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to buy up to 11.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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

Progress Software issued an update on its fourth quarter 2021 earnings guidance on Thursday, October, 21st. The company provided earnings per share (EPS) guidance of $0.730-$0.750 for the period, compared to the Thomson Reuters consensus estimate of $0.860. The company issued revenue guidance of $134 million-$138 million, compared to the consensus revenue estimate of $141.18 million.

What price target have analysts set for PRGS?

5 equities research analysts have issued 1-year price objectives for Progress Software's shares. Their forecasts range from $50.00 to $60.00. On average, they expect Progress Software's stock price to reach $56.20 in the next year. This suggests a possible upside of 15.9% from the stock's current price.
View analysts' price targets for Progress Software
or view top-rated stocks among Wall Street analysts.

Who are Progress Software's key executives?

Progress Software's management team includes the following people:
  • Yogesh K. Gupta, President, Chief Executive Officer & Director
  • Anthony Folger, Chief Financial Officer
  • Ian Pitt, Chief Information Officer
  • Loren Weinberg Jarrett, Senior VP & General Manager-Developer Tools
  • John Ainsworth, Senior Vice President-Core Products

What is Yogesh Gupta's approval rating as Progress Software's CEO?

139 employees have rated Progress Software CEO Yogesh Gupta on Glassdoor.com. Yogesh Gupta has an approval rating of 54% among Progress Software's employees. This puts Yogesh Gupta in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

Who are some of Progress Software's key competitors?

What other stocks do shareholders of Progress Software own?

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).

What is Progress Software's stock symbol?

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

Who are Progress Software's major shareholders?

Progress Software's stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (18.49%), Segall Bryant & Hamill LLC (3.75%), Renaissance Technologies LLC (3.66%), Dimensional Fund Advisors LP (3.15%), Bank of New York Mellon Corp (2.96%) and Boston Trust Walden Corp (2.66%). Company insiders that own Progress Software stock include Anthony Folger, Charles Francis Kane, Gary Quinn, Jeremy Segal, Paul A Jalbert, Rainer Gawlick and Yogesh K Gupta.
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 LSV Asset Management, Arrowstreet Capital Limited Partnership, Renaissance Technologies LLC, Royal Bank of Canada, Russell Investments Group Ltd., Assenagon Asset Management S.A., Marshall Wace LLP, and Robeco Institutional Asset Management B.V.. Company insiders that have sold Progress Software company stock in the last year include Gary Quinn, and Jeremy Segal.
View insider buying and selling activity for Progress Software
or view top insider-selling stocks.

Which major investors are buying Progress Software stock?

PRGS stock was acquired by a variety of institutional investors in the last quarter, including William Blair Investment Management LLC, BlackRock Inc., Foundry Partners LLC, Victory Capital Management Inc., Seizert Capital Partners LLC, Boston Trust Walden Corp, Bank of New York Mellon Corp, and Avalon Investment & Advisory. Company insiders that have bought Progress Software stock in the last two years include Anthony Folger, Rainer Gawlick, and Yogesh K Gupta.
View insider buying and selling activity for Progress Software
or or view top insider-buying stocks.

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 WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.

What is Progress Software's stock price today?

One share of PRGS stock can currently be purchased for approximately $48.49.

How much money does Progress Software make?

Progress Software has a market capitalization of $2.13 billion and generates $442.15 million in revenue each year. The software maker earns $79.72 million in net income (profit) each year or $1.81 on an earnings per share basis.

How many employees does Progress Software have?

Progress Software employs 1,796 workers across the globe.

Does Progress Software have any subsidiaries?

The following companies are subsidiares of Progress Software: Actional, Allegrix, Apama, Apama (UK) Limited, Apama Inc., BravePoint, Chef, Corticon Technologies, DataDirect Technologies, DataRPM, DataRPM India Private Limited, DataRPM LLC, EasyAsk, Genesis Development Corporation, IONA Technologies, IONA Technologies China Limited, IONA Technologies Spain SL, Ipswitch, Kinvey, Kinvey LLC, MightyMeeting Inc., Mindreef, Modulus, Neon Systems, Oak Park Realty LLC, Oak Park Realty Two LLC, OneBit Software, OpenAccess Software, Orbix Limited, Pantero, PeerDirect, Persistence Software, Persistence Software LLC, Progress (Shanghai) Software System Company Limited, Progress Security Corporation, Progress Software (Pty) Ltd, Progress Software A/S, Progress Software AG, Progress Software B.V., Progress Software Corporation (S) Pte. Ltd., Progress Software Corporation Limited, Progress Software Corporation of Canada Ltd., Progress Software Denmark A/S, Progress Software Development Private Limited, Progress Software EAD, Progress Software Europe B.V., Progress Software Germany GmbH, Progress Software GesmbH, Progress Software GmbH, Progress Software International Corporation, Progress Software Italy S.r.l., Progress Software Limited, Progress Software NV, Progress Software Oy, Progress Software Pty. Ltd., Progress Software S.A.S., Progress Software S.L., Progress Software Solutions India Private Limited, Progress Software Sp. z.o o., Progress Software Svenska AB, Progress Software de Argentina S.A., Progress Software de Venezuela C.A., Progress Software do Brasil Ltda., Progress Software spol. s.r.o., Rollbase, SPK Acquisitions Limited, Savvion, Savvion Inc., Telerik, Telerik India Private Limited, Telerik UK Ltd., Trident Acquisition EAD, Trident Acquisition Limited, Xcalia, and eXcelon Corporation.

When was Progress Software founded?

Progress Software was founded in 1981.

What is Progress Software's official website?

The official website for Progress Software is www.progress.com.

Where are Progress Software's headquarters?

Progress Software is headquartered at 14 OAK PARK DRIVE, BEDFORD MA, 01730.

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, via email at [email protected], or via fax at 781-280-4095.


This page was last updated on 12/1/2021 by MarketBeat.com Staff

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