NASDAQ:PRGS

Progress Software Stock Forecast, Price & News

$45.55
+0.06 (+0.13 %)
(As of 06/23/2021 12:56 PM ET)
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Today's Range
$45.47
$46.09
50-Day Range
$42.26
$48.15
52-Week Range
$34.05
$49.23
Volume8,912 shs
Average Volume398,278 shs
Market Capitalization$2.00 billion
P/E Ratio26.64
Dividend Yield1.53%
Beta1.26
30 days | 90 days | 365 days | Advanced Chart
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Progress Software logo

About Progress Software

Progress Software Corporation develops business applications. The company operates through 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; MOVEit that provides secure collaboration and automated file transfers of critical business information; and WhatsUp Gold, a network monitoring solution. The Data Connectivity and Integration segment provides Progress DataDirect Connect, 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 customer resource management, data management platforms, or hosted analytics. The Application Development and Deployment segment offers Developer Tools, a set of components for user interface development; and Sitefinity, a web content management and customer analytics platform. 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 to end users, independent software vendors, original equipment manufacturers, and system integrators. The company has operations in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Progress Software Corporation was founded in 1981 and is headquartered in Bedford, Massachusetts.

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MarketRank

Overall MarketRank

1.90 out of 5 stars

Computer And Technology Sector

142nd out of 1,591 stocks

Prepackaged Software Industry

32nd out of 312 stocks

Analyst Opinion: 2.5Community Rank: 2.4Dividend Strength: 1.7Insider Behavior: 1.7Valuation: 1.3 5 -4 -3 -2 -1 -
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Progress Software (NASDAQ:PRGS) Frequently Asked Questions

Is Progress Software a buy right now?

3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Progress Software stock.
View analyst ratings for Progress Software
or view top-rated stocks.

What stocks does MarketBeat like better than Progress Software?

Wall Street analysts have given Progress Software a "Buy" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Progress Software wasn't one of them. MarketBeat thinks these five companies may be even better buys.
View MarketBeat's top stock picks here.

Are investors shorting Progress Software?

Progress Software saw a increase in short interest in the month of May. As of May 28th, there was short interest totaling 1,910,000 shares, an increase of 21.7% from the May 13th total of 1,570,000 shares. Based on an average trading volume of 443,600 shares, the short-interest ratio is presently 4.3 days. Currently, 4.4% of the company's stock are short sold.
View Progress Software's Short Interest
.

When is Progress Software's next earnings date?

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, June 24th 2021.
View our earnings forecast for Progress Software
.

How can I listen to Progress Software's earnings call?

Progress Software will be holding an earnings conference call on Thursday, June 24th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

How were Progress Software's earnings last quarter?

Progress Software Co. (NASDAQ:PRGS) posted its earnings results on Wednesday, March, 24th. The software maker reported $0.95 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.75 by $0.20. The software maker had revenue of $131.78 million for the quarter, compared to the consensus estimate of $121.39 million. Progress Software had a net margin of 17.09% and a trailing twelve-month return on equity of 36.46%. The business's revenue was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.76 earnings per share.
View Progress Software's earnings history
.

How has Progress Software's stock price 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 39.6% and is now trading at $45.52.
View which stocks have been most impacted by COVID-19
.

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

Progress Software declared a quarterly dividend on Tuesday, March 23rd. Shareholders of record on Tuesday, June 1st will be given a dividend of $0.175 per share on Tuesday, June 15th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Friday, May 28th.
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 1.53%. Progress Software has been increasing its dividend for 4 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 26.12%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Progress Software will have a dividend payout ratio of 23.33% 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 initiated a share repurchase program on Thursday, January 16th 2020, which allows the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

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

Progress Software issued an update on its FY21 earnings guidance on Thursday, March, 25th. The company provided earnings per share (EPS) guidance of $3.38-3.42 for the period, compared to the Thomson Reuters consensus estimate of $2.98. The company issued revenue guidance of $519-527 million, compared to the consensus revenue estimate of $473.50 million.

What price target have analysts set for PRGS?

3 analysts have issued 12-month price targets for Progress Software's stock. Their forecasts range from $43.00 to $56.00. On average, they anticipate Progress Software's stock price to reach $51.33 in the next twelve months. This suggests a possible upside of 12.8% 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:
  • Mr. Yogesh K. Gupta, CEO, Pres & Director (Age 60, Pay $1.13M)
  • Mr. Anthony Folger, Chief Financial Officer (Age 49, Pay $592.43k)
  • Mr. John Ainsworth, Sr. VP of Core Products (Age 56, Pay $559.92k)
  • Ms. Loren Weinberg Jarrett, Sr. VP & GM of Developer Tools Bus. (Age 46, Pay $560.87k)
  • Mr. Gary Quinn, Sr. VP of Core Field Organization (Age 60, Pay $672.6k)
  • Mr. Brian Flanagan, Directory of Treasury & Investor Relations
  • Mr. Stephen H. Faberman, Chief Legal Officer & Sec. (Age 51)
  • Ms. Jennifer Ortiz, VP of Corp. Marketing (Age 44)
  • Mr. Jeremy Segal, Sr. VP of Corp. Devel. (Age 50)
  • Ms. Katie Kulikoski, Chief People Officer (Age 44)

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 many different retail and institutional investors. Top institutional investors include BlackRock Inc. (17.74%), Renaissance Technologies LLC (4.56%), Dimensional Fund Advisors LP (3.32%), Bank of New York Mellon Corp (2.83%), Boston Trust Walden Corp (2.73%) and Investment Counselors of Maryland LLC (2.25%). 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 institutional investors are selling Progress Software stock?

PRGS stock was sold by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Man Group plc, Acadian Asset Management LLC, Prudential Financial Inc., Arrowstreet Capital Limited Partnership, Allianz Asset Management GmbH, D. E. Shaw & Co. Inc., and Dimensional Fund Advisors LP. 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 institutional investors are buying Progress Software stock?

PRGS stock was acquired by a variety of institutional investors in the last quarter, including BlackRock Inc., LSV Asset Management, Investment Counselors of Maryland LLC, NFJ Investment Group LLC, Boston Trust Walden Corp, Geode Capital Management LLC, HRT Financial LP, and Robeco Institutional Asset Management B.V.. 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 $45.52.

How much money does Progress Software make?

Progress Software has a market capitalization of $2.00 billion and generates $442.15 million in revenue each year. The software maker earns $79.72 million in net income (profit) each year or $2.68 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 or via email at [email protected]


This page was last updated on 6/23/2021 by MarketBeat.com Staff
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