NASDAQ:PRGS - Progress Software Stock Price, News & Analysis

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

Progress Software declared a quarterly dividend on Tuesday, June 25th. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.155 per share on Monday, September 16th. This represents a $0.62 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, August 29th. View Progress Software's Dividend History.

Progress Software declared that its board has authorized a stock buyback plan on Thursday, September 28th 2017, which authorizes the company to buyback $159,000,000.00 in shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Progress Software Corp (NASDAQ:PRGS) released its earnings results on Thursday, June, 27th. The software maker reported $0.65 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.48 by $0.17. The software maker had revenue of $103.48 million for the quarter, compared to the consensus estimate of $98.20 million. Progress Software had a net margin of 13.30% and a return on equity of 30.71%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. View Progress Software's Earnings History.

Progress Software is scheduled to release their next quarterly earnings announcement on Thursday, September 26th 2019. View Earnings Estimates for Progress Software.

Progress Software issued an update on its FY19 earnings guidance on Thursday, June, 27th. The company provided EPS guidance of $2.52-2.57 for the period, compared to the Thomson Reuters consensus estimate of $2.51. The company issued revenue guidance of $422-428 million, compared to the consensus revenue estimate of $423.08 million.

3 brokers have issued 1 year target prices for Progress Software's shares. Their predictions range from $49.00 to $52.00. On average, they anticipate Progress Software's stock price to reach $50.3333 in the next twelve months. This suggests a possible upside of 24.8% from the stock's current price. View Analyst Price Targets for 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.

Media headlines about PRGS stock have trended negative this week, InfoTrie Sentiment Analysis reports. InfoTrie identifies negative and positive media coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Progress Software earned a news sentiment score of -2.9 on InfoTrie's scale. They also assigned news stories about the software maker a news buzz of 10.0 out of 10, indicating that recent media coverage is extremely likely to have an impact on the company's share price in the next several days. View News Stories for Progress Software.

Progress Software saw a increase in short interest in the month of August. As of August 31st, there was short interest totalling 684,800 shares, an increase of 17.0% from the July 31st total of 585,100 shares. Based on an average trading volume of 317,900 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.6% of the shares of the stock are short sold. View Progress Software's Current Options Chain.

Some companies that are related to Progress Software include Momo (MOMO), Elastic (ESTC), HubSpot (HUBS), Trend Micro (TMICY), Anaplan (PLAN), ITV PLC/ADR (ITVPY), Konami (KNMCY), SolarWinds (SWI), RealPage (RP), Avalara (AVLR), National Instruments (NATI), Medidata Solutions (MDSO), Dynatrace (DT), Manhattan Associates (MANH) and Micro Focus International (MFGP).

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Energy Transfer LP Unit (ET), Intel (INTC), Micron Technology (MU), Alibaba Group (BABA), Cornerstone Total Return Fund (CRF), Cisco Systems (CSCO), Cypress Semiconductor (CY), CBL & Associates Properties (CBL), salesforce.com (CRM) and Ford Motor (F).

Progress Software's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (14.87%), BlackRock Inc. (14.87%), Vanguard Group Inc. (10.62%), Man Group plc (3.76%), Acadian Asset Management LLC (3.59%) and Renaissance Technologies LLC (3.04%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan and Michael Mark. View Institutional Ownership Trends for Progress Software.

PRGS stock was sold by a variety of institutional investors in the last quarter, including Marshall Wace LLP, Charles Schwab Investment Management Inc., Morgan Stanley, AXA, Jacobs Levy Equity Management Inc., Great Lakes Advisors LLC, Investment Counselors of Maryland LLC and Vanguard Group Inc.. Company insiders that have sold Progress Software company stock in the last year include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov and John R Egan. View Insider Buying and Selling for Progress Software.

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Man Group plc, Nuveen Asset Management LLC, Acadian Asset Management LLC, Prudential Financial Inc., JPMorgan Chase & Co., APG Asset Management N.V., BTIM Corp. and WINTON GROUP Ltd. View Insider Buying and Selling 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 $40.32.

Progress Software has a market capitalization of $1.80 billion and generates $397.17 million in revenue each year. The software maker earns $63.49 million in net income (profit) each year or $2.13 on an earnings per share basis. Progress Software employs 1,412 workers across the globe.View Additional Information About Progress Software.

The official website for Progress Software is http://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]