NASDAQ:PRGSProgress Software Stock Price, Forecast & News

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization (WHO). Since then, PRGS shares have increased by 10.4% and is now trading at $36.00. View which stocks have been most impacted by Coronavirus.

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, 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, September 24th 2020. View our earnings forecast for Progress Software.

Progress Software Corp (NASDAQ:PRGS) announced its earnings results on Thursday, June, 25th. The software maker reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by $0.01. The software maker earned $102.51 million during the quarter, compared to analyst estimates of $99.17 million. Progress Software had a net margin of 10.81% and a return on equity of 34.66%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Monday, June 29th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.165 per share on Tuesday, September 15th. This represents a $0.66 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, August 31st. View Progress Software's dividend history.

Progress Software declared that its board has initiated a stock buyback plan 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 buy up to 11.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Progress Software updated its FY20 earnings guidance on Thursday, June, 25th. The company provided EPS guidance of $2.82-2.86 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.78. The company issued revenue guidance of $433-443 million, compared to the consensus revenue estimate of $432.55 million.

3 equities research analysts have issued 1 year price objectives for Progress Software's stock. Their forecasts range from $42.00 to $53.00. On average, they expect Progress Software's stock price to reach $46.00 in the next twelve months. This suggests a possible upside of 27.8% from the stock's current price. View analysts' price targets for Progress Software.

News articles about PRGS stock have trended neutral on Saturday, InfoTrie reports. InfoTrie scores the sentiment of press coverage by analyzing more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. Progress Software earned a media sentiment score of 0.2 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 company's share price in the next few days. View the latest news about Progress Software.

Progress Software saw a decrease in short interest in the month of June. As of June 30th, there was short interest totaling 686,200 shares, a decrease of 17.5% from the June 15th total of 831,400 shares. Based on an average daily volume of 380,800 shares, the days-to-cover ratio is currently 1.8 days. Approximately 1.6% of the shares of the company 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) and FalconStor Software (FALC). View all competitors.

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), Cisco Systems (CSCO), Alibaba Group (BABA), Crispr Therapeutics (CRSP), Pfizer (PFE), NVIDIA (NVDA) and Abbott Laboratories (ABT).

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

Progress Software's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Envestnet Asset Management Inc. (0.12%), Whittier Trust Co. (0.10%) and Whittier Trust Co. of Nevada Inc. (0.04%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan 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 Whittier Trust Co.. Company insiders that have sold Progress Software company stock in the last year include Charles Francis Kane, and Paul A Jalbert. View insider buying and selling activity for Progress Software.

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Envestnet Asset Management Inc., and Whittier Trust Co. of Nevada Inc.. 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 $36.00.

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.

The official website for Progress Software is 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]