Progress Software (NASDAQ:PRGS) will release its earnings data after the market closes on Thursday, June 27th. Analysts expect Progress Software to post earnings of $0.48 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.
Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Thursday, March 28th. The software maker reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.08). Progress Software had a net margin of 15.27% and a return on equity of 30.57%. The company had revenue of $89.50 million during the quarter, compared to the consensus estimate of $87.64 million. During the same period in the previous year, the firm posted $0.54 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts expect Progress Software to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of PRGS opened at $39.47 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.18 and a current ratio of 1.18. Progress Software has a twelve month low of $30.23 and a twelve month high of $47.60. The firm has a 50 day moving average of $42.07. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 18.53 and a beta of 0.78.
The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, May 31st. Progress Software’s payout ratio is currently 29.11%.
A number of brokerages have weighed in on PRGS. BidaskClub lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. ValuEngine downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a report on Monday, June 3rd. Zacks Investment Research downgraded shares of Progress Software from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. Finally, Wedbush lifted their price objective on shares of Progress Software from $36.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, March 29th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.00.
In other news, Director John R. Egan sold 45,000 shares of Progress Software stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $45.01, for a total value of $2,025,450.00. Following the sale, the director now directly owns 73,206 shares in the company, valued at $3,295,002.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Egan sold 20,000 shares of Progress Software stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $45.25, for a total transaction of $905,000.00. Following the completion of the sale, the director now owns 73,206 shares in the company, valued at $3,312,571.50. The disclosure for this sale can be found here. Insiders sold 86,695 shares of company stock worth $3,918,650 over the last quarter. 1.70% of the stock is owned by corporate insiders.
Progress Software Company Profile
Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.
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