NASDAQ:PRGSProgress Software Stock Price, Forecast & News

$35.27

+0.68 (+1.97 %)

(As of 04/7/2020 03:50 PM ET)

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Today's Range

$34.77

Now: $35.27▼

$35.95

50-Day Range

$29.75

MA: $35.39▼

$45.04

52-Week Range

$28.09

Now: $35.27▼

$52.50

Volume24,755 shs

Average Volume717,785 shs

Market Capitalization$1.58 billion

P/E Ratio42.49

Dividend Yield2.04%

Beta0.94

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 43.2% from its current price of $35.27.
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 383 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Progress Software has received 415 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Progress Software has received 52.01% “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 2.04%, 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 sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $936,696.00 in company stock.
Percentage Held by Insiders
Only 1.70% of the stock of Progress Software is held by insiders.
Percentage Held by Institutions
94.83% 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 42.49, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 11.90.
Price to Earnings Ratio vs. Sector
The P/E ratio of Progress Software is 42.49, 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 33.10.
Price to Book Value per Share Ratio
Progress Software has a P/B Ratio of 4.79. 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

Webhttp://www.progress.com/

Phone781-280-4000

Debt

Debt-to-Equity Ratio0.92

Current Ratio1.19

Quick Ratio1.18

Price-To-Earnings

Trailing P/E Ratio42.49

Forward P/E Ratio14.82

P/E GrowthN/A

Sales & Book Value

Annual Sales$413.30 million

Price / Sales3.82

Cash Flow$4.48 per share

Price / Cash Flow7.88

Book Value$7.37 per share

Price / Book4.79

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 Shares44,770,000

Market Cap$1.58 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 COVID-19 (Coronavirus) reached pandemic status according to the World Health Organization (WHO). Since then, PRGS stock has increased by 8.2% and is now trading at $35.27. View which stocks have been mosted 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 consensus estimate of $0.70 by $0.06. The software maker had revenue of $113.76 million for the quarter, compared to the consensus estimate of $105.20 million. Progress Software had a net margin of 8.79% and a return on equity of 35.31%. The company's revenue was up 27.0% on a year-over-year basis. During the same quarter in the prior year, the firm 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. Stockholders 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 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Friday, May 29th. View Progress Software's dividend history.

How will Progress Software's stock buyback program work?

Progress Software announced that its Board of Directors has approved a stock 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 a sign that the company's management believes its stock is undervalued.

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

Progress Software updated 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 brokers have issued 1 year price targets for Progress Software's shares. Their forecasts range from $42.00 to $57.00. On average, they anticipate Progress Software's share price to reach $50.50 in the next twelve months. This suggests a possible upside of 43.2% from the stock's current price. View analysts' price targets for Progress Software.

Has Progress Software been receiving favorable news coverage?

Media coverage about PRGS stock has been trending very negative recently, InfoTrie reports. The research firm identifies negative and positive press coverage by reviewing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Progress Software earned a daily sentiment score of -3.3 on InfoTrie's scale. They also assigned news 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 company's share price in the next several days. View the latest news aboutProgress Software.

Are investors shorting Progress Software?

Progress Software saw a increase in short interest during the month of 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 presently 2.7 days. Currently, 2.1% of the shares of the stock 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), VMware (VMW), ServiceNow (NOW), Fortinet (FTNT), Symantec (SYMC), Proofpoint (PFPT), Qualys (QLYS), CommVault Systems (CVLT), TiVo (TIVO) and FalconStor Software (FALC).

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), Crispr Therapeutics (CRSP), Alibaba Group (BABA), Cisco Systems (CSCO), NVIDIA (NVDA), Pfizer (PFE) and Cypress Semiconductor (CY).

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 variety of retail and institutional 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.

Which major investors are buying Progress Software stock?

PRGS stock was bought 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.

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 $35.27.

How big of a company is Progress Software?

Progress Software has a market capitalization of $1.58 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.

What is Progress Software's official website?

The official website for Progress Software is http://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 4/7/2020 by MarketBeat.com Staff

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NASDAQ:PRGSProgress Software Stock Price, Forecast & News

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Beat the Market (BTM) Rank™

3.5 Analyst's Opinion

Consensus Rating

Price Target Upside/Downside

Amount of Analyst Coverage