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NASDAQ:PRGSProgress Software Stock Price, Forecast & News

$38.98
+0.10 (+0.26 %)
(As of 05/25/2020 04:00 PM ET)
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Today's Range
$38.68
Now: $38.98
$39.48
50-Day Range
$32.43
MA: $37.25
$41.72
52-Week Range
$28.09
Now: $38.98
$52.50
Volume177,761 shs
Average Volume360,397 shs
Market Capitalization$1.75 billion
P/E Ratio46.96
Dividend Yield1.69%
Beta1.12
Progress Software Corporation develops business applications worldwide. The company operates in 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; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT. 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; Sitefinity, a Web content management and customer analytics platform; and Test Studio, an application lifecycle management suite for testing Web, mobile, and desktop applications. 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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Beat the Market (BTM) Rank

Analyst Opinion: 3.5Community Rank: 2.4Dividend Strength: 3.3Insider Behavior: 1.0Valuation: 0.6 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.17 out of 5 stars


Industry, Sector and Symbol

Industry Prepackaged software
Sub-IndustrySystems Software
SectorComputer and Technology
Current SymbolNASDAQ:PRGS
CUSIP74331210
Phone781-280-4000

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$413.30 million
Cash Flow$4.12 per share
Book Value$7.37 per share

Profitability

Net Income$26.40 million

Miscellaneous

Employees1,538
Market Cap$1.75 billion
Next Earnings Date6/25/2020 (Estimated)
OptionableOptionable

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Progress Software (NASDAQ:PRGS) Frequently Asked Questions

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 Coronavirus reached pandemic status according to the World Health Organization. Since then, PRGS stock has increased by 19.6% and is now trading at $38.98. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of 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.

When is Progress Software's next earnings date?

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, June 25th 2020. View our earnings forecast for Progress Software.

How were Progress Software's earnings last quarter?

Progress Software Corp (NASDAQ:PRGS) released its earnings results on Thursday, March, 26th. The software maker reported $0.76 EPS for the quarter, beating the consensus estimate of $0.70 by $0.06. The software maker had revenue of $113.76 million for the quarter, compared to analysts' expectations of $105.20 million. Progress Software had a return on equity of 35.31% and a net margin of 8.79%. The company's revenue was up 27.0% compared to the same quarter last year. During the same period last year, the company posted $0.50 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, March 31st. Shareholders of record on Monday, June 1st will be given a dividend of $0.165 per share on Monday, June 15th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, May 29th. View Progress Software's dividend history.

How will Progress Software's stock buyback program work?

Progress Software announced that its board has authorized a share buyback plan 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 reacquire up to 11.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

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

Progress Software updated its FY20 earnings guidance on Thursday, March, 26th. The company provided earnings per share guidance of $2.73-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.84. The company issued revenue guidance of $428-438 million, compared to the consensus revenue estimate of $439.13 million.

What price target have analysts set for PRGS?

4 brokers have issued 1 year price objectives for Progress Software's shares. Their forecasts range from $42.00 to $57.00. On average, they anticipate Progress Software's stock price to reach $50.50 in the next twelve months. This suggests a possible upside of 29.6% from the stock's current price. View analysts' price targets for Progress Software.

Has Progress Software been receiving favorable news coverage?

Press coverage about PRGS stock has trended negative this week, according to InfoTrie Sentiment. The research group rates the sentiment of news coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Progress Software earned a media sentiment score of -2.1 on InfoTrie's scale. They also gave news stories about the software maker a news buzz of 0.0 out of 10, indicating that recent news coverage is extremely unlikely to have an effect on the company's share price in the immediate future. View the latest news aboutProgress Software.

Are investors shorting Progress Software?

Progress Software saw a drop in short interest in the month of April. As of April 15th, there was short interest totaling 972,800 shares, a drop of 8.2% from the March 31st total of 1,060,000 shares. Based on an average daily trading volume, of 440,500 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.2% of the shares of the stock are sold short. View Progress Software's Current Options Chain.

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 Energy Transfer LP Unit (ET), Advanced Micro Devices (AMD), Intel (INTC), Micron Technology (MU), Cisco Systems (CSCO), Alibaba Group (BABA), Crispr Therapeutics (CRSP), Pfizer (PFE), NVIDIA (NVDA) and Abbott Laboratories (ABT).

Who are Progress Software's key executives?

Progress Software's management team includes the following people:
  • Mr. Yogesh Gupta, CEO, Pres & Director (Age 58)
  • Mr. Paul A. Jalbert, Chief Financial Officer (Age 62)
  • Mr. Dmitri Tcherevik, Chief Technology Officer (Age 49)
  • Ms. Loren Weinberg Jarrett, Chief Marketing Officer (Age 44)
  • Mr. John Ainsworth, Sr. VP of Core Products (Age 54)

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 many different retail and institutional investors. Top institutional investors include BlackRock Inc. (14.88%), Acadian Asset Management LLC (3.55%), State Street Corp (3.28%), Praesidium Investment Management Company LLC (1.95%), Bank of New York Mellon Corp (1.82%) and Nuveen Asset Management LLC (1.72%). 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.

Which institutional investors are selling Progress Software stock?

PRGS stock was sold by a variety of institutional investors in the last quarter, including BlackRock Inc., Russell Investments Group Ltd., Squarepoint Ops LLC, Deutsche Bank AG, Schroder Investment Management Group, JPMorgan Chase & Co., Morgan Stanley, and Wells Fargo & Company MN. 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.

Which institutional investors are buying Progress Software stock?

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Praesidium Investment Management Company LLC, Rice Hall James & Associates LLC, Systematic Financial Management LP, Grantham Mayo Van Otterloo & Co. LLC, Bank of New York Mellon Corp, Fuller & Thaler Asset Management Inc., The Manufacturers Life Insurance Company , and State Street Corp. View insider buying and selling activity 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, Robinhood, Fidelity, and Charles Schwab.

What is Progress Software's stock price today?

One share of PRGS stock can currently be purchased for approximately $38.98.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.75 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.

What is Progress Software's official website?

The official website for Progress Software is 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]

This page was last updated on 5/26/2020 by MarketBeat.com Staff

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