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NASDAQ:PRGS

Progress Software (PRGS) Stock Price, News & Analysis

$50.41
+0.22 (+0.44%)
(As of 04:38 PM ET)
Today's Range
$50.00
$50.46
50-Day Range
$50.06
$57.14
52-Week Range
$49.00
$62.34
Volume
467,942 shs
Average Volume
585,266 shs
Market Capitalization
$2.21 billion
P/E Ratio
32.73
Dividend Yield
1.39%
Price Target
$64.60

Progress Software MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.80 Rating Score
Upside/​Downside
28.1% Upside
$64.60 Price Target
Short Interest
Bearish
9.31% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.67
Upright™ Environmental Score
News Sentiment
0.48mentions of Progress Software in the last 14 days
Based on 18 Articles This Week
Insider Trading
Selling Shares
$5.38 M Sold Last Quarter
Proj. Earnings Growth
9.09%
From $3.85 to $4.20 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.47 out of 5 stars

Computer And Technology Sector

100th out of 585 stocks

Prepackaged Software Industry

26th out of 197 stocks

PRGS stock logo

About Progress Software Stock (NASDAQ:PRGS)

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers. It also provides MOVEit, a managed file transfer software for managing and controlling the movement of sensitive files and securing them both at-rest and in-transit; DataDirect, a secure data connectivity tools for Relational, NoSQL, Big Data and SaaS data sources; WhatsUp Gold, a network infrastructure monitoring software providing complete visibility of all network devices, servers, virtual machines, and cloud and wireless environments to find and fix network problems; Flowmon, a network security and visibility product with automated response across hybrid cloud ecosystems; Corticon, a decision automation platform to transform user experiences by streamlining and automating complex business rules; MarkLogic, a data agility platform to connect data and metadata; and Semaphore, a Semantic AI platform. The company offers project management, implementation, custom software development, programming, and other services, as well as web-enable applications; and training services. It sells its products to end users, independent software vendors, original equipment manufacturers, system integrators, value added resellers, and distributors. The company was founded in 1981 and is headquartered in Burlington, Massachusetts.

PRGS Stock Price History

PRGS Stock News Headlines

Progress Software May Acquire MariaDB For $0.60/Share In Cash
Will this $2 AI stock double overnight?
It's a tiny AI company fighting for a big piece of a $20 Billion Pentagon contract. What's more, this groundbreaking firm is trading for less than $2 a share!
Will this $2 AI stock double overnight?
It's a tiny AI company fighting for a big piece of a $20 Billion Pentagon contract. What's more, this groundbreaking firm is trading for less than $2 a share!
"Preservation In Progress: Picturing Immigration"
Progress Software Becomes Oversold (PRGS)
See More Headlines
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Company Calendar

Ex-Dividend for 3/15 Dividend
2/29/2024
Dividend Payable
3/15/2024
Last Earnings
3/26/2024
Today
4/19/2024
Ex-Dividend for 6/17 Dividend
5/31/2024
Dividend Payable
6/17/2024
Next Earnings (Estimated)
7/04/2024
Fiscal Year End
11/30/2024

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
Systems Software
Current Symbol
NASDAQ:PRGS
CUSIP
74331210
Employees
2,284
Year Founded
1981

Price Target and Rating

Average Stock Price Target
$64.60
High Stock Price Target
$67.00
Low Stock Price Target
$62.00
Potential Upside/Downside
+28.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.80
Research Coverage
5 Analysts

Profitability

Net Income
$70.20 million
Pretax Margin
10.82%

Debt

Sales & Book Value

Annual Sales
$714.90 million
Cash Flow
$6.13 per share
Book Value
$10.52 per share

Miscellaneous

Free Float
42,388,000
Market Cap
$2.20 billion
Optionable
Optionable
Beta
0.94

Social Links

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Key Executives

  • Mr. Yogesh K. Gupta (Age 63)
    CEO, President & Director
    Comp: $1.26M
  • Mr. Anthony Folger (Age 52)
    Executive VP & CFO
    Comp: $739.6k
  • Mr. Jeremy SegalMr. Jeremy Segal (Age 53)
    Executive Vice President of Corporate Development
    Comp: $561.25k
  • Mr. John Ainsworth (Age 59)
    Executive VP & GM of Application & Data Platform
    Comp: $622.83k
  • Ms. Loren Weinberg Jarrett (Age 49)
    Executive VP & GM of Digital Experience
    Comp: $664.12k
  • Mr. Domenic Lococo
    Chief Accounting Officer
  • Mr. Ian Pitt (Age 57)
    Executive VP & Chief Information Officer
  • Mr. Brian Flanagan
    Directory of Treasury & Investor Relations
  • Ms. YuFan Wang (Age 41)
    Executive Vice President, Chief Legal Officer & Secretary
  • Ms. Jennifer Ortiz (Age 48)
    Executive Vice President of Marketing

PRGS Stock Analysis - Frequently Asked Questions

Should I buy or sell Progress Software stock right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Progress Software in the last year. There are currently 1 hold rating and 4 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" PRGS shares.
View PRGS analyst ratings
or view top-rated stocks.

What is Progress Software's stock price target for 2024?

5 brokerages have issued 1-year price targets for Progress Software's stock. Their PRGS share price targets range from $62.00 to $67.00. On average, they anticipate the company's stock price to reach $64.60 in the next year. This suggests a possible upside of 28.1% from the stock's current price.
View analysts price targets for PRGS
or view top-rated stocks among Wall Street analysts.

How have PRGS shares performed in 2024?

Progress Software's stock was trading at $54.30 on January 1st, 2024. Since then, PRGS shares have decreased by 7.2% and is now trading at $50.41.
View the best growth stocks for 2024 here
.

When is Progress Software's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 4th 2024.
View our PRGS earnings forecast
.

How were Progress Software's earnings last quarter?

Progress Software Co. (NASDAQ:PRGS) issued its earnings results on Tuesday, March, 26th. The software maker reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.12. The software maker earned $184.69 million during the quarter, compared to analyst estimates of $181.91 million. Progress Software had a trailing twelve-month return on equity of 36.62% and a net margin of 9.67%. The business's revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS.

How often does Progress Software pay dividends? What is the dividend yield for Progress Software?

Progress Software announced a quarterly dividend on Tuesday, March 19th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.175 per share on Monday, June 17th. This represents a $0.70 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, May 31st.
Read our dividend analysis for PRGS
.

Is Progress Software a good dividend stock?

Progress Software (NASDAQ:PRGS) pays an annual dividend of $0.70 per share and currently has a dividend yield of 1.40%. The dividend payout ratio is 45.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PRGS will have a dividend payout ratio of 16.67% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PRGS.

What guidance has Progress Software issued on next quarter's earnings?

Progress Software issued an update on its FY 2024 earnings guidance on Tuesday, March, 26th. The company provided EPS guidance of 4.650-4.750 for the period, compared to the consensus estimate of 4.630. The company issued revenue guidance of $722.0 million-$732.0 million, compared to the consensus revenue estimate of $728.4 million.

What is Yogesh Gupta's approval rating as Progress Software's CEO?

139 employees have rated Progress Software Chief Executive Officer Yogesh Gupta on Glassdoor.com. Yogesh Gupta has an approval rating of 54% among the company's employees. This puts Yogesh Gupta in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Progress Software own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Progress Software investors own include Intel (INTC), Micron Technology (MU), Advanced Micro Devices (AMD), Cisco Systems (CSCO), Energy Transfer (ET), Pfizer (PFE), AbbVie (ABBV), NVIDIA (NVDA), Costco Wholesale (COST) and Broadcom (AVGO).

Who are Progress Software's major shareholders?

Progress Software's stock is owned by a number of retail and institutional investors. Top institutional investors include Allspring Global Investments Holdings LLC (1.61%) and BTC Capital Management Inc. (0.02%). Insiders that own company stock include Anthony Folger, Charles Francis Kane, David Krall, Domenic Lococo, Gary Quinn, Ian Pitt, Jennifer Ortiz, Jeremy Segal, John Ainsworth, Kathryn Kulikoski, Loren Jarrett, Sundar Subramanian, Yogesh K Gupta and Yufan Stephanie Wang.
View institutional ownership trends
.

How do I buy shares of Progress Software?

Shares of PRGS stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Progress Software have any subsidiaries?
The following companies are subsidiares of Progress Software: Actional, Allegrix, Apama, Apama (UK) Limited, BravePoint, Chef, Corticon Technologies, DataDirect Technologies, DataRPM, EasyAsk, Flowmon Networks A.S., Flowmon Networks Inc, IONA Technologies, IONA Technologies Spain SL, Ipswitch, Kemp Technologies Inc, Kemp Technologies India Private Limited, Kemp Technologies Limited, Kemp Technologies Pte. Ltd, Kinvey, MPC Kappa Holdings Inc, MPC Kappa Intermediate Inc, Mindreef, Modulus, Neon Systems, OneBit Software, OpenAccess Software, Pantero, PeerDirect, Persistence Software, Progress (Shanghai) Software System Company Limited, Progress Software (Pty) Ltd, Progress Software A/S, Progress Software A/S, Progress Software AG, Progress Software B.V., Progress Software Corporation (S) Pte. Ltd., Progress Software Corporation Limited, Progress Software Corporation of Canada Ltd, Progress Software Denmark A/S, Progress Software Development Private Limited, Progress Software EAD, Progress Software Europe B.V., Progress Software Germany GmbH, Progress Software GesmbH, Progress Software GmbH, Progress Software International LLC, Progress Software Italy S.r.l., Progress Software Japan KK, Progress Software Limited, Progress Software NV, Progress Software Oy, Progress Software Pty. Ltd., Progress Software S.A.S., Progress Software S.L., Progress Software Solutions India Private Limited, Progress Software Sp. z.o o., Progress Software Svenska AB, Progress Software Technologies Limited, Progress Software do Brasil Ltda., Progress Telerik, Rollbase, SPK Acquisitions Limited, Savvion, Savvion Inc, Trident Acquisition EAD, Trident Acquisition Limited, Xcalia, and eXcelon Corporation.
Read More
This page (NASDAQ:PRGS) was last updated on 4/19/2024 by MarketBeat.com Staff

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