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. Since then, PRGS stock has increased by 17.7% and is now trading at $38.38. 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) released its quarterly 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 had revenue of $102.51 million for 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. View Progress Software's earnings history.

Progress Software declared a quarterly dividend on Monday, June 29th. Investors of record on Tuesday, September 1st will be given a dividend of $0.165 per share on Tuesday, September 15th. This represents a $0.66 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, August 31st. View Progress Software's dividend history.

Progress Software announced that its board has approved a stock buyback plan on Thursday, January 16th 2020, which allows the company to repurchase $250,000,000.00 in shares, according to EventVestor. This repurchase authorization allows the company to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

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

3 brokerages have issued 1 year price objectives for Progress Software's shares. Their forecasts range from $42.00 to $53.00. On average, they anticipate Progress Software's share price to reach $46.00 in the next twelve months. This suggests a possible upside of 19.9% from the stock's current price. View analysts' price targets for Progress Software.

News headlines about PRGS stock have trended negative this week, according to InfoTrie. The research firm scores the sentiment of news coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Progress Software earned a media sentiment score of -2.8 on InfoTrie's scale. They also gave news coverage about the software maker a news buzz of 7.0 out of 10, meaning that recent news coverage is likely to have an impact on the stock's share price in the near future. View the latest news about Progress Software.

Progress Software saw a increase in short interest in the month of June. As of June 15th, there was short interest totaling 831,400 shares, an increase of 5.4% from the May 31st total of 788,700 shares. Based on an average daily trading volume, of 447,200 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.9% of the company's shares 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."

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 $38.38.

Progress Software has a market capitalization of $1.72 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]