$0.95 EPS Expected for Progress Software Co. (NASDAQ:PRGS) This Quarter

Equities research analysts expect Progress Software Co. (NASDAQ:PRGSGet Rating) to post $0.95 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Progress Software’s earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $0.95. Progress Software reported earnings per share of $0.82 during the same quarter last year, which would suggest a positive year over year growth rate of 15.9%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Progress Software will report full year earnings of $4.05 per share for the current year, with EPS estimates ranging from $4.04 to $4.07. For the next year, analysts anticipate that the company will report earnings of $4.35 per share, with EPS estimates ranging from $4.34 to $4.38. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Progress Software.

Progress Software (NASDAQ:PRGSGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The software maker reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.12. Progress Software had a net margin of 14.40% and a return on equity of 39.08%. The firm had revenue of $147.51 million for the quarter, compared to the consensus estimate of $139.24 million. During the same quarter in the previous year, the firm earned $0.82 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year.

PRGS has been the topic of several recent research reports. Zacks Investment Research raised shares of Progress Software from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Thursday, April 7th. Citigroup boosted their target price on shares of Progress Software from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, March 30th. Finally, StockNews.com began coverage on shares of Progress Software in a research report on Thursday, March 31st. They set a “strong-buy” rating on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Progress Software presently has an average rating of “Buy” and a consensus target price of $56.00.

Progress Software stock opened at $46.28 on Wednesday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.21 and a current ratio of 1.21. The business’s 50-day simple moving average is $45.37 and its two-hundred day simple moving average is $47.28. The company has a market cap of $2.03 billion, a PE ratio of 25.85, a PEG ratio of 7.17 and a beta of 1.16. Progress Software has a fifty-two week low of $41.68 and a fifty-two week high of $53.99.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, May 31st. Progress Software’s payout ratio is 39.11%.

In other news, CEO Yogesh K. Gupta sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $50.20, for a total transaction of $251,000.00. Following the transaction, the chief executive officer now owns 90,000 shares of the company’s stock, valued at approximately $4,518,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeremy Segal sold 1,281 shares of the firm’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $47.14, for a total transaction of $60,386.34. The disclosure for this sale can be found here. Insiders sold 11,281 shares of company stock valued at $538,136 over the last quarter. Company insiders own 2.60% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Miracle Mile Advisors LLC purchased a new stake in shares of Progress Software during the 1st quarter valued at approximately $387,000. Louisiana State Employees Retirement System raised its position in Progress Software by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the software maker’s stock valued at $1,072,000 after purchasing an additional 300 shares during the period. Inspire Investing LLC purchased a new position in shares of Progress Software during the 1st quarter worth $291,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Progress Software by 26.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,328 shares of the software maker’s stock worth $298,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Progress Software during the 1st quarter worth about $268,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

Progress Software Company Profile (Get Rating)

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities.

Further Reading

Get a free copy of the Zacks research report on Progress Software (PRGS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Progress Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progress Software and related companies with MarketBeat.com's FREE daily email newsletter.