NASDAQ:PRGSProgress Software Stock Price, Forecast & News

$40.12

-0.37 (-0.91 %)

(As of 05/29/2020 04:00 PM ET)

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Today's Range

$40.00

Now: $40.12▼

$41.29

50-Day Range

$35.02

MA: $37.63▼

$41.72

52-Week Range

$28.09

Now: $40.12▼

$52.50

Volume384,500 shs

Average Volume435,711 shs

Market Capitalization$1.80 billion

P/E Ratio48.34

Dividend Yield1.65%

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.

Beat the Market (BTM) Rank^™

3.5 Analyst's Opinion

Consensus Rating
Progress Software has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 4 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $50.50, Progress Software has a potential upside of 25.9% from its current price of $40.12.
Amount of Analyst Coverage
Progress Software has only been the subject of 2 research reports in the past 90 days.

2.4 Community Rank

Outperform Votes
Progress Software has received 385 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Progress Software has received 418 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Progress Software has received 52.05% “underperform” votes from our community.

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.

3.3 Dividend Strength

Dividend Leadership
Progress Software is a leading dividend payer. It pays a dividend yield of 1.65%, putting its dividend yield in the top 25% of dividend-paying stocks.
Dividend Growth
Progress Software has only been increasing its dividend for 3 years.
Dividend Coverage
The dividend payout ratio of Progress Software is 28.82 %. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, Progress Software will have a dividend payout ratio of 26.61 % next year. This indicates that Progress Software will be able to sustain or increase its dividend.

1.0 Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Progress Software insiders have not sold or bought any company stock.
Percentage Held by Insiders
Only 1.80% of the stock of Progress Software is held by insiders.
Percentage Held by Institutions
93.58% of the stock of Progress Software is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6 Earnings and Valuation

Earnings Growth
Earnings for Progress Software are expected to grow by 4.20% in the coming year, from $2.38 to $2.48 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Progress Software is 48.34, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.40.
Price to Earnings Ratio vs. Sector
The P/E ratio of Progress Software is 48.34, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 40.89.
Price to Book Value per Share Ratio
Progress Software has a P/B Ratio of 5.44. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.17 out of 5 stars

Industry, Sector and Symbol

Stock Exchange NASDAQ

Industry Prepackaged software

Sub-IndustrySystems Software

SectorComputer and Technology

Current SymbolNASDAQ:PRGS

Previous Symbol

CUSIP74331210

CIK876167

Webwww.progress.com

Phone781-280-4000

Debt

Debt-to-Equity Ratio0.92

Current Ratio1.19

Quick Ratio1.19

Price-To-Earnings

Trailing P/E Ratio48.34

Forward P/E Ratio16.86

P/E GrowthN/A

Sales & Book Value

Annual Sales$413.30 million

Price / Sales4.35

Cash Flow$4.08 per share

Price / Cash Flow9.84

Book Value$7.37 per share

Price / Book5.44

Profitability

EPS (Most Recent Fiscal Year)$2.29

Net Income$26.40 million

Net Margins8.79%

Return on Equity35.31%

Return on Assets13.33%

Miscellaneous

Employees1,538

Outstanding Shares44,788,000

Market Cap$1.80 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 (COVID-19) reached pandemic status according to the World Health Organization. Since then, PRGS stock has increased by 23.1% and is now trading at $40.12. 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) announced its earnings results on Thursday, March, 26th. The software maker reported $0.76 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.70 by $0.06. The software maker earned $113.76 million during 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 business's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 EPS. 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 annualized dividend and a dividend yield of 1.65%. 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 declared that its board 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 repurchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

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

Progress Software issued an update on 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 earnings per share 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 analysts 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 25.9% from the stock's current price. View analysts' price targets for Progress Software.

Has Progress Software been receiving favorable news coverage?

News coverage about PRGS stock has been trending very negative this week, according to InfoTrie. The research group identifies positive and negative press coverage by analyzing more than six thousand blog and news sources. 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 sentiment score of -3.0 on InfoTrie's scale. They also assigned news coverage about the software maker a news buzz of 10.0 out of 10, meaning that recent press coverage is extremely likely to have an effect on the stock's share price in the near future. View the latest news aboutProgress Software.

Are investors shorting Progress Software?

Progress Software saw a drop in short interest in 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 trading volume of 440,500 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.2% of the shares of the company are sold short. View Progress Software's Current Options Chain.

Who are some of Progress Software's key competitors?

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). View all 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 a number of institutional and retail investors. Top institutional shareholders 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 Morgan Stanley. 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 bought 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 $40.12.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.80 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 5/29/2020 by MarketBeat.com Staff