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 stock has increased by 29.0% and is now trading at $42.04. View which stocks have been most impacted by Coronavirus.

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.

Progress Software is scheduled to release its next quarterly earnings announcement on Thursday, June 25th 2020. View our earnings forecast for Progress Software.

Progress Software Corp (NASDAQ:PRGS) posted its earnings results on Thursday, March, 26th. The software maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. The software maker had revenue of $113.76 million for the quarter, compared to the consensus estimate of $105.20 million. Progress Software had a return on equity of 35.31% and a net margin of 8.79%. The firm's revenue for the quarter was up 27.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. View Progress Software's earnings history.

Progress Software announced a quarterly dividend on Tuesday, March 31st. Investors of record on Monday, June 1st will be given a dividend of $0.165 per share on Monday, June 15th. This represents a $0.66 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Friday, May 29th. View Progress Software's dividend history.

Progress Software declared that its Board of Directors has approved a share buyback program on Thursday, January 16th 2020, which allows the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to repurchase up to 11.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Progress Software updated its FY20 earnings guidance on Thursday, March, 26th. The company provided earnings per share (EPS) guidance of $2.73-2.80 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.84. The company issued revenue guidance of $428-438 million, compared to the consensus revenue estimate of $439.13 million.

4 equities research analysts have issued 12-month target prices for Progress Software's stock. Their forecasts range from $42.00 to $57.00. On average, they anticipate Progress Software's share price to reach $50.50 in the next year. This suggests a possible upside of 20.1% from the stock's current price. View analysts' price targets for Progress Software.

News headlines about PRGS stock have been trending somewhat positive this week, according to InfoTrie Sentiment Analysis. The research firm rates the sentiment of 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 nearest to five being the most favorable. Progress Software earned a news sentiment score of 1.0 on InfoTrie's scale. They also gave news stories about the software maker a news buzz of 10.0 out of 10, meaning that recent news coverage is extremely likely to have an effect on the company's share price in the immediate future. View the latest news aboutProgress Software.

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). 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 many different institutional and retail investors. Top institutional shareholders include BlackRock Inc. (14.88%), Acadian Asset Management LLC (3.55%), State Street Corp (3.28%), Praesidium Investment Management Company LLC (1.95%), Bank of New York Mellon Corp (1.82%) and Nuveen Asset Management LLC (1.72%). 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 BlackRock Inc., Russell Investments Group Ltd., Squarepoint Ops LLC, Deutsche Bank AG, Schroder Investment Management Group, JPMorgan Chase & Co., Morgan Stanley, and Morgan Stanley. 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 Praesidium Investment Management Company LLC, Rice Hall James & Associates LLC, Rice Hall James & Associates LLC, Systematic Financial Management LP, Grantham Mayo Van Otterloo & Co. LLC, Bank of New York Mellon Corp, Fuller & Thaler Asset Management Inc., and The Manufacturers Life Insurance Company . 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 $42.04.

Progress Software has a market capitalization of $1.88 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]