Progress Software - PRGS Stock Forecast, Price & News

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last twelve months. There are currently 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" PRGS shares.
View PRGS analyst ratings or view top-rated stocks.

5 Wall Street analysts have issued 1 year price objectives for Progress Software's stock. Their PRGS share price forecasts range from $52.00 to $65.00. On average, they expect the company's share price to reach $60.20 in the next twelve months. This suggests a possible upside of 6.7% from the stock's current price.
View analysts price targets for PRGS or view top-rated stocks among Wall Street analysts.

Progress Software's stock was trading at $50.45 at the beginning of the year. Since then, PRGS stock has increased by 11.8% and is now trading at $56.40.
View the best growth stocks for 2023 here.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, June 27th 2023.
View our PRGS earnings forecast.

Progress Software Co. (NASDAQ:PRGS) released its quarterly earnings data on Tuesday, March, 28th. The software maker reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.14. The software maker earned $165.61 million during the quarter, compared to the consensus estimate of $158.77 million. Progress Software had a net margin of 15.79% and a trailing twelve-month return on equity of 41.04%. The firm's revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 EPS.

Progress Software announced a quarterly dividend on Tuesday, March 28th. Stockholders of record on Thursday, June 1st will be paid a dividend of $0.175 per share on Thursday, June 15th. This represents a $0.70 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Wednesday, May 31st.
Read our dividend analysis for PRGS.

ETFs with the largest weight of Progress Software (NASDAQ:PRGS) stock in their portfolio include Direxion Work From Home ETF (WFH), Invesco S&P SmallCap Information Technology ETF (PSCT), Small Cap US Equity Select ETF (RNSC), Invesco S&P SmallCap Low Volatility ETF (XSLV), Pacer US Small Cap Cash Cows 100 ETF (CALF), Invesco S&P SmallCap Momentum ETF (XSMO), Hartford Longevity Economy ETF (HLGE) and Invesco S&P SmallCap 600 Pure Growth ETF (RZG).

Progress Software (NASDAQ:PRGS) pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.19%. The dividend payout ratio is 32.41%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 17.50% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRGS.

Progress Software updated its FY 2023 earnings guidance on Wednesday, March, 29th. The company provided earnings per share (EPS) guidance of $4.09-$4.17 for the period, compared to the consensus earnings per share estimate of $4.14. The company issued revenue guidance of $680.00 million-$688.00 million, compared to the consensus revenue estimate of $679.42 million.

139 employees have rated Progress Software Chief Executive Officer Yogesh Gupta on Glassdoor.com. Yogesh Gupta has an approval rating of 54% among the company's employees. This puts Yogesh Gupta in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

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).

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

Progress Software's stock is owned by many different institutional and retail investors. Top institutional shareholders include Boston Trust Walden Corp (3.76%), Dimensional Fund Advisors LP (3.01%), Fuller & Thaler Asset Management Inc. (2.61%), Renaissance Technologies LLC (2.48%), Seizert Capital Partners LLC (2.07%) and William Blair Investment Management LLC (2.00%). Insiders that own company stock include Anthony Folger, Charles Francis Kane, Domenic Lococo, Gary Quinn, Ian Pitt, Jennifer Ortiz, Jeremy Segal, John Ainsworth, Kathryn Kulikoski, Loren Jarrett, Rainer Gawlick, Sundar Subramanian and Yogesh K Gupta.
View institutional ownership trends.

Shares of PRGS stock 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.

One share of PRGS stock can currently be purchased for approximately $56.40.

Progress Software (NASDAQ:PRGS) has a market capitalization of $2.44 billion and generates $602.01 million in revenue each year. The software maker earns $95.07 million in net income (profit) each year or $2.16 on an earnings per share basis.

The company employs 2,071 workers across the globe.

Progress Software's mailing address is 14 OAK PARK DRIVE, BEDFORD MA, 01730. The official website for the company is www.progress.com. The software maker can be reached via phone at (781) 280-4000, via email at investor-relations@progress.com, or via fax at 781-280-4095.