Progress Software (PRGS) Stock Price, News & Analysis

Company Overview

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.

Key Stats

• Today's Range: $65.65 to $67.47
• 50-Day Range: $63.94 to $69.89
• 52-Week Range: $48.00 to $70.56
• Volume: 2.52 million shs
• Average Volume: 501,096 shs
• Market Capitalization: $2.85 billion
• P/E Ratio: 35.50
• Dividend Yield: 1.05%
• Price Target: $67.67
• Consensus Rating: Moderate Buy

Progress Software Stock Analysis - MarketRank™

Progress Software scored higher than 77% of companies evaluated by MarketBeat, and ranked 220th out of 652 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 1.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Progress Software has received a consensus rating of Moderate Buy. The company's average rating score is 2.83, and is based on 5 buy ratings, 1 hold rating, and no sell ratings.

Amount of Analyst Coverage

Progress Software has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 18.18%

Earnings Growth

Earnings for Progress Software are expected to grow by 18.18% in the coming year, from $3.96 to $4.68 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Progress Software is 35.50, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 120.38.

Price to Earnings Ratio vs. Sector

The P/E ratio of Progress Software is 35.50, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 244.61.

Price to Earnings Growth Ratio

Progress Software has a PEG Ratio of 7.35. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Progress Software has a P/B Ratio of 6.29. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

11.70% of the float of Progress Software has been sold short.

Short Interest Ratio / Days to Cover

Progress Software has a short interest ratio ("days to cover") of 8.8.

Change versus previous month

Short interest in Progress Software has recently increased by 1.44%, indicating that investor sentiment is decreasing.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Progress Software pays a meaningful dividend of 1.02%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Progress Software does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Progress Software is 37.43%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Progress Software will have a dividend payout ratio of 14.96% next year. This indicates that Progress Software will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 3.7 / 5
• Environmental Score: -0.72

Percentage of Shares Shorted

11.70% of the float of Progress Software has been sold short.

Short Interest Ratio / Days to Cover

Progress Software has a short interest ratio ("days to cover") of 8.8.

Change versus previous month

Short interest in Progress Software has recently increased by 1.44%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 1.05

News Sentiment

Progress Software has a news sentiment score of 1.05. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.66 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 5 news articles for Progress Software this week, compared to 8 articles on an average week.

Search Interest

4 people have searched for PRGS on MarketBeat in the last 30 days. This is an increase of 33% compared to the previous 30 days.

MarketBeat Follows

Only 1 people have added Progress Software to their MarketBeat watchlist in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Progress Software insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $639,117.00 in company stock.

Percentage Held by Insiders

Only 3.40% of the stock of Progress Software is held by insiders.

PRGS Stock Analysis - Frequently Asked Questions

How have PRGS shares performed this year?

Progress Software's stock was trading at $54.30 at the beginning of 2024. Since then, PRGS shares have increased by 22.2% and is now trading at $66.38.
View the best growth stocks for 2024 here.

How were Progress Software's earnings last quarter?

Progress Software Co. (NASDAQ:PRGS) released its quarterly earnings results on Tuesday, September, 24th. The software maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.12. The firm's quarterly revenue was up 1.7% on a year-over-year basis.

Does Progress Software have any subsidiaries?

Progress Software subsidiaries include these companies: Chef, Ipswitch, Kinvey, DataRPM, OneBit Software, Progress Telerik, BravePoint, and more.

Who are Progress Software's major shareholders?

Top institutional investors of Progress Software include Boston Trust Walden Corp (4.59%), Principal Financial Group Inc. (2.44%), Principal Financial Group Inc. (2.44%) and Geode Capital Management LLC (2.35%). Insiders that own company stock include Yogesh K Gupta, David Krall, Charles Francis Kane, Anthony Folger, John Ainsworth, Sundar Subramanian, Loren Jarrett, Jennifer Ortiz, Kathryn Kulikoski, Domenic Lococo, Ian Pitt, Jeremy Segal 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.

What other stocks do shareholders of Progress Software own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Progress Software investors own include American Water Works (AWK), Voyager Therapeutics (VYGR), Humana (HUM), Waste Connections (WCN), DiamondRock Hospitality (DRH), AUO (AUOTY) and The RMR Group (RMR).

Company Calendar

• Last Earnings: 9/24/2024
• Today: 12/21/2024
• Fiscal Year End: 11/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Prepackaged software
• Sub-Industry: Systems Software
• Current Symbol: NASDAQ:PRGS
• CUSIP: 74331210
• CIK: 876167
• Web: www.progress.com
• Phone: (781) 280-4000
• Fax: 781-280-4095
• Employees: 2,284
• Year Founded: 1981

Price Target and Rating

• Average Stock Price Target: $67.67
• High Stock Price Target: $80.00
• Low Stock Price Target: $55.00
• Potential Upside/Downside: +1.9%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.83
• Research Coverage: 6 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.87
• Trailing P/E Ratio: 35.50
• Forward P/E Ratio: 16.76
• P/E Growth: 7.35
• Net Income: $70.20 million
• Net Margins: 11.55%
• Pretax Margin: 13.44%
• Return on Equity: 38.69%
• Return on Assets: 10.64%

Debt

• Debt-to-Equity Ratio: 1.87
• Current Ratio: 1.23
• Quick Ratio: 1.23

Sales & Book Value

• Annual Sales: $715.42 million
• Price / Sales: 3.98
• Cash Flow: $5.95 per share
• Price / Cash Flow: 11.15
• Book Value: $10.55 per share
• Price / Book: 6.29

Miscellaneous

• Outstanding Shares: 42,905,000
• Free Float: 41,446,000
• Market Cap: $2.85 billion
• Optionable: Optionable
• Beta: 0.92