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

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

Progress Software declared a quarterly dividend on Tuesday, January 21st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.165 per share on Monday, March 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Friday, February 28th. View Progress Software's Dividend History.

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

Progress Software Corp (NASDAQ:PRGS) issued its quarterly earnings results on Thursday, January, 16th. The software maker reported $0.79 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.75 by $0.04. The software maker earned $123.42 million during the quarter, compared to analyst estimates of $118.30 million. Progress Software had a return on equity of 32.03% and a net margin of 6.39%. Progress Software's revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share. View Progress Software's Earnings History.

Progress Software is scheduled to release their next quarterly earnings announcement on Thursday, March 26th 2020. View Earnings Estimates for Progress Software.

Progress Software updated its FY20 earnings guidance on Thursday, January, 16th. The company provided earnings per share guidance of $2.87-2.92 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.83. The company issued revenue guidance of $448-455 million, compared to the consensus revenue estimate of $435.22 million.

4 equities research analysts have issued 12 month target prices for Progress Software's shares. Their forecasts range from $50.00 to $57.00. On average, they anticipate Progress Software's stock price to reach $53.00 in the next twelve months. This suggests a possible upside of 19.0% from the stock's current price. View Analyst Price Targets for Progress Software.

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Progress Software.

News stories about PRGS stock have trended positive on Wednesday, according to InfoTrie Sentiment Analysis. The research firm identifies negative and positive news coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded 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 assigned news articles about the software maker a news buzz of 4.0 out of 10, meaning that recent news coverage is somewhat unlikely to have an impact on the stock's share price in the next several days. View News Stories for Progress Software.

Progress Software saw a drop in short interest in the month of January. As of January 31st, there was short interest totalling 753,600 shares, a drop of 20.0% from the January 15th total of 942,300 shares. Based on an average trading volume of 300,500 shares, the days-to-cover ratio is currently 2.5 days. Currently, 1.7% 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), TiVo (TIVO) and FalconStor Software (FALC).

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Energy Transfer LP Unit (ET), Intel (INTC), Advanced Micro Devices (AMD), Micron Technology (MU), Pfizer (PFE), Alibaba Group (BABA), Verizon Communications (VZ), Cisco Systems (CSCO), Cypress Semiconductor (CY) and JD.Com (JD).

Progress Software's stock is owned by many different of institutional and retail investors. Top institutional shareholders include Renaissance Technologies LLC (4.06%), Acadian Asset Management LLC (3.49%), State Street Corp (3.10%), Man Group plc (2.58%), Boston Trust Walden Corp (1.69%) and Prudential Financial Inc. (1.56%). Company insiders that own Progress Software stock include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan, Michael Mark 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 Russell Investments Group Ltd., Man Group plc, Robeco Institutional Asset Management B.V., MERIAN GLOBAL INVESTORS UK Ltd, MERIAN GLOBAL INVESTORS UK Ltd, Bank of New York Mellon Corp, DekaBank Deutsche Girozentrale and Prudential Financial Inc.. Company insiders that have sold Progress Software company stock in the last year include Anthony Murphy, Charles Francis Kane, Dimitre Taslakov, John R Egan and Paul A Jalbert. View Insider Buying and Selling for Progress Software.

PRGS stock was acquired by a variety of institutional investors in the last quarter, including Schroder Investment Management Group, Renaissance Technologies LLC, Goldman Sachs Group Inc., California Public Employees Retirement System, AXA, AJO LP, Amundi Pioneer Asset Management Inc. and Great West Life Assurance Co. Can. 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 $44.54.

Progress Software has a market capitalization of $2.01 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.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]