NASDAQ:PRGS

Progress Software Stock Forecast, Price & News

$36.03

+0.46 (+1.29 %)

(As of 09/22/2020 12:00 AM ET)

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Today's Range

$34.91

Now: $36.03▼

$36.06

50-Day Range

$34.98

MA: $36.56▼

$38.55

52-Week Range

$28.09

Now: $36.03▼

$52.50

Volume222,581 shs

Average Volume382,212 shs

Market Capitalization$1.61 billion

P/E Ratio35.32

Dividend Yield1.86%

Beta1.03

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 3 buy ratings, no hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $47.00, Progress Software has a forecasted upside of 30.4% from its current price of $36.03.
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 390 “outperform” votes. (Add your “outperform” vote.)
Underperform Votes
Progress Software has received 431 “underperform” votes. (Add your “underperform” vote.)
Community Sentiment
Progress Software has received 52.50% “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.

2.5 Dividend Strength

Dividend Yield
Progress Software pays a meaningful dividend of 1.86%, higher than the bottom 25% of all stocks that pay dividends.
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 21.71% 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 not sold or bought any company stock.
Percentage Held by Insiders
Only 1.80% of the stock of Progress Software is held by insiders.
Percentage Held by Institutions
92.88% of the stock of Progress Software is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.3 Earnings and Valuation

Earnings Growth
Earnings for Progress Software are expected to grow by 19.69% in the coming year, from $2.54 to $3.04 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Progress Software is 35.32, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 18.40.
Price to Earnings Ratio vs. Sector
The P/E ratio of Progress Software is 35.32, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 61.05.
Price to Book Value per Share Ratio
Progress Software has a P/B Ratio of 4.89. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Overall Beat the Market Rank^™

2.13 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

Webwww.progress.com

Phone781-280-4000

Debt

Debt-to-Equity Ratio0.81

Current Ratio1.29

Quick Ratio1.29

Price-To-Earnings

Trailing P/E Ratio35.32

Forward P/E Ratio14.19

P/E GrowthN/A

Sales & Book Value

Annual Sales$413.30 million

Price / Sales3.90

Cash Flow$4.24 per share

Price / Cash Flow8.50

Book Value$7.37 per share

Price / Book4.89

Profitability

EPS (Most Recent Fiscal Year)$2.29

Net Income$26.40 million

Net Margins10.81%

Return on Equity34.66%

Return on Assets13.08%

Miscellaneous

Employees1,538

Outstanding Shares44,788,000

Market Cap$1.61 billion

Next Earnings Date9/24/2020 (Estimated)

OptionableOptionable

$36.03

+0.46 (+1.29 %)

(As of 09/22/2020 12:00 AM ET)

30 days | 90 days | 365 days | Advanced Chart

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Progress Software (NASDAQ:PRGS) Frequently Asked Questions

How has Progress Software's stock price been impacted by Coronavirus (COVID-19)?

Progress Software's stock was trading at $32.60 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, PRGS shares have increased by 10.5% and is now trading at $36.03.
View which stocks have been most impacted by COVID-19.

Do Wall Street analysts recommend investors buy shares of Progress Software?

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.

When is Progress Software's next earnings date?

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, September 24th 2020.
View our earnings forecast for Progress Software.

How were Progress Software's earnings last quarter?

Progress Software Corp (NASDAQ:PRGS) posted its quarterly earnings data on Thursday, June, 25th. The software maker reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by $0.01. The software maker had revenue of $102.51 million for the quarter, compared to analysts' expectations of $99.17 million. Progress Software had a return on equity of 34.66% and a net margin of 10.81%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $0.65 earnings per share.
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 Monday, June 29th. Investors 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 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, August 31st.
View Progress Software's dividend history.

How will Progress Software's stock buyback program work?

Progress Software declared that its Board of Directors has authorized a share repurchase plan on Thursday, January 16th 2020, which authorizes the company to buyback $250,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to purchase up to 11.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

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

Progress Software updated its FY20 earnings guidance on Tuesday, September, 8th. The company provided EPS guidance of $2.94-2.97 for the period, compared to the Thomson Reuters consensus estimate of $2.85. The company issued revenue guidance of 452-456 million, compared to the consensus revenue estimate of $439.13 million.

What price target have analysts set for PRGS?

3 brokers have issued 12-month price objectives for Progress Software's shares. Their forecasts range from $43.00 to $53.00. On average, they expect Progress Software's share price to reach $47.00 in the next twelve months. This suggests a possible upside of 30.4% from the stock's current price.
View analysts' price targets for Progress Software.

Are investors shorting Progress Software?

Progress Software saw a decrease in short interest in August. As of August 31st, there was short interest totaling 599,400 shares, a decrease of 37.7% from the August 15th total of 962,500 shares. Based on an average daily trading volume, of 319,500 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.4% of the company's stock are short sold.
View Progress Software's Short Interest.

Who are some of Progress Software's key competitors?

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.

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), Cisco Systems (CSCO), Micron Technology (MU), Energy Transfer LP Unit (ET), Pfizer (PFE), Advanced Micro Devices (AMD), NVIDIA (NVDA), AbbVie (ABBV), Costco Wholesale (COST) and AT&T (T).

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 many different institutional and retail investors. Top institutional shareholders include Vanguard Group Inc. (10.88%), Bank of New York Mellon Corp (2.16%), Boston Trust Walden Corp (2.14%), Man Group plc (1.78%), Nuveen Asset Management LLC (1.76%) and Fisher Asset Management LLC (1.51%). 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.

Which institutional investors are selling Progress Software stock?

PRGS stock was sold by a variety of institutional investors in the last quarter, including Bank of America Corp DE, Prudential Financial Inc., Goldman Sachs Group Inc., MERIAN GLOBAL INVESTORS UK Ltd, Grantham Mayo Van Otterloo & Co. LLC, Charles Schwab Investment Management Inc., Great Lakes Advisors LLC, and Man Group plc. 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.

Which institutional investors are buying Progress Software stock?

PRGS stock was bought by a variety of institutional investors in the last quarter, including Boston Trust Walden Corp, Bank of New York Mellon Corp, Marshall Wace LLP, AlphaCrest Capital Management LLC, Athanor Capital LP, Balyasny Asset Management LLC, Bessemer Group Inc., and Marshall Wace North America L.P..
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 $36.03.

How big of a company is Progress Software?

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.

What is Progress Software's official website?

The official website for Progress Software is 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 9/23/2020 by MarketBeat.com Staff

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