NASDAQ:PRGSProgress Software Stock Price, Forecast & News

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 (WHO). 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.

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.

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

Progress Software Corp (NASDAQ:PRGS) announced its quarterly earnings data on Thursday, March, 26th. The software maker reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.70 by $0.06. The software maker earned $113.76 million during the quarter, compared to the consensus estimate of $105.20 million. Progress Software had a return on equity of 35.31% and a net margin of 8.79%. Progress Software's revenue was up 27.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Tuesday, March 31st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.165 per share on Monday, June 15th. This represents a $0.66 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, May 29th. View Progress Software's dividend history.

Progress Software declared that its Board of Directors has approved a stock repurchase plan on Thursday, January 16th 2020, which allows the company to buyback $250,000,000.00 in shares, according to EventVestor. This buyback authorization allows the company to reacquire up to 11.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

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 estimate of $2.84. The company issued revenue guidance of $428-438 million, compared to the consensus revenue estimate of $439.13 million.

4 brokerages have issued 1 year price objectives for Progress Software's shares. Their forecasts range from $42.00 to $57.00. On average, they expect Progress Software's share 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.

Press coverage about PRGS stock has been trending somewhat positive this week, according to InfoTrie. The research group rates the sentiment of media coverage by reviewing more than six thousand news and blog sources. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. Progress Software earned a daily sentiment score of 0.7 on InfoTrie's scale. They also assigned media stories about the software maker a news buzz of 2.0 out of 10, indicating that recent media coverage is very unlikely to have an impact on the company's share price in the near term. View the latest news aboutProgress 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 daily trading volume, of 440,500 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.2% of the company's stock are sold short. 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). View all competitors.

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).

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

Progress Software's stock is owned by a number of institutional and retail 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.

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.

PRGS stock was purchased 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.

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 $40.12.

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.

The official website for Progress Software is 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]