NASDAQ:PRGSProgress Software Stock Price, Forecast & News

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 (WHO). Since then, PRGS stock has increased by 10.3% and is now trading at $35.97. 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) posted its earnings results on Thursday, March, 26th. The software maker reported $0.76 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.70 by $0.06. The software maker had revenue of $113.76 million for the quarter, compared to analyst estimates 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 was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Tuesday, March 31st. Investors 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 yield of 1.83%. The ex-dividend date of this dividend is Friday, May 29th. View Progress Software's dividend history.

Progress Software announced that its Board of Directors has approved a share repurchase plan on Thursday, January 16th 2020, which authorizes the company to repurchase $250,000,000.00 in outstanding 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 plans are generally an indication that the company's management believes its shares are undervalued.

Progress Software updated its FY20 earnings guidance on Thursday, March, 26th. The company provided EPS 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.

4 equities research analysts have issued 1 year target prices 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 year. This suggests a possible upside of 40.4% from the stock's current price. View analysts' price targets for Progress Software.

Media coverage about PRGS stock has been trending very negative on Thursday, according to InfoTrie. The research firm rates the sentiment of press coverage by monitoring more than six thousand news and blog sources. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Progress Software earned a media sentiment score of -3.3 on InfoTrie's scale. They also assigned media coverage about the software maker a news buzz of 0.0 out of 10, meaning that recent press coverage is extremely unlikely to have an effect on the stock's share price in the near future. View the latest news aboutProgress Software.

Progress Software saw a increase in short interest in March. As of March 13th, there was short interest totaling 953,800 shares, an increase of 69.0% from the February 27th total of 564,400 shares. Based on an average daily volume of 357,400 shares, the short-interest ratio is currently 2.7 days. Approximately 2.1% of the company's stock are short sold. View Progress Software's Current Options Chain.

Some companies that are related to Progress Software include Microsoft (MSFT), Oracle (ORCL), VMware (VMW), ServiceNow (NOW), 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), Advanced Micro Devices (AMD), Intel (INTC), Micron Technology (MU), Crispr Therapeutics (CRSP), Alibaba Group (BABA), Cisco Systems (CSCO), NVIDIA (NVDA), Pfizer (PFE) and Cypress Semiconductor (CY).

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 State of Alaska Department of Revenue (0.09%). 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 purchased by a variety of institutional investors in the last quarter, including State of Alaska Department of Revenue. 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 $35.97.

Progress Software has a market capitalization of $1.61 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]