NASDAQ:PRGS - Progress Software Stock Price, Forecast & News

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

Progress Software declared a quarterly dividend on Tuesday, January 21st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.165 per share on Monday, March 16th. This represents a $0.66 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, February 28th. View Progress Software's Dividend History.

Progress Software announced that its board has approved a share buyback program on Thursday, January 16th 2020, which authorizes the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 11.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Progress Software Corp (NASDAQ:PRGS) issued its quarterly earnings data on Thursday, January, 16th. The software maker reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. The software maker earned $123.42 million during the quarter, compared to the consensus estimate of $118.30 million. Progress Software had a return on equity of 32.03% and a net margin of 6.39%. The business's quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. View Progress Software's Earnings History.

Progress Software is scheduled to release their next quarterly earnings announcement on Thursday, March 26th 2020. View Earnings Estimates for Progress Software.

Progress Software issued an update on its FY20 earnings guidance on Thursday, January, 16th. The company provided earnings per share guidance of $2.87-2.92 for the period, compared to the Thomson Reuters consensus estimate of $2.83. The company issued revenue guidance of $448-455 million, compared to the consensus revenue estimate of $435.22 million.

4 brokers have issued twelve-month price targets for Progress Software's shares. Their forecasts range from $50.00 to $57.00. On average, they expect Progress Software's share price to reach $53.00 in the next twelve months. This suggests a possible upside of 18.8% from the stock's current price. View Analyst Price Targets for 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.

Media coverage about PRGS stock has been trending negative recently, according to InfoTrie Sentiment Analysis. The research firm rates the sentiment of news coverage by monitoring more than six thousand blog and news sources in real time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Progress Software earned a media sentiment score of -2.7 on InfoTrie's scale. They also assigned media stories about the software maker a news buzz of 10.0 out of 10, meaning that recent news coverage is extremely likely to have an effect on the stock's share price in the near future. View News Stories for Progress Software.

Progress Software saw a drop in short interest during the month of January. As of January 31st, there was short interest totalling 753,600 shares, a drop of 20.0% from the January 15th total of 942,300 shares. Based on an average daily trading volume, of 300,500 shares, the short-interest ratio is currently 2.5 days. Currently, 1.7% of the shares of the stock are short sold. 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).

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Energy Transfer LP Unit (ET), Intel (INTC), Advanced Micro Devices (AMD), Micron Technology (MU), Pfizer (PFE), Alibaba Group (BABA), Verizon Communications (VZ), Cisco Systems (CSCO), Cypress Semiconductor (CY) and JD.Com (JD).

Progress Software's stock is owned by many different of retail and institutional investors. Top institutional investors include Renaissance Technologies LLC (4.06%), Acadian Asset Management LLC (3.49%), State Street Corp (3.10%), Man Group plc (2.58%), Boston Trust Walden Corp (1.69%) and Prudential Financial Inc. (1.56%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan, Michael Mark 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 Russell Investments Group Ltd., Man Group plc, Robeco Institutional Asset Management B.V., MERIAN GLOBAL INVESTORS UK Ltd, MERIAN GLOBAL INVESTORS UK Ltd, Bank of New York Mellon Corp, DekaBank Deutsche Girozentrale and Prudential Financial Inc.. Company insiders that have sold Progress Software company stock in the last year include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan and Paul A Jalbert. View Insider Buying and Selling for Progress Software.

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Schroder Investment Management Group, Renaissance Technologies LLC, Goldman Sachs Group Inc., California Public Employees Retirement System, AXA, AJO LP, Amundi Pioneer Asset Management Inc. and Great West Life Assurance Co. Can. View Insider Buying and Selling 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 $44.61.

Progress Software has a market capitalization of $2.01 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.View Additional Information About Progress Software.

The official website for Progress Software is http://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]