Progress Software (PRGS) to Release Earnings on Tuesday

Progress Software (NASDAQ:PRGS - Get Free Report) is expected to be announcing its earnings results after the market closes on Tuesday, January 21st. Analysts expect the company to announce earnings of $1.21 per share and revenue of $211,341.93 billion for the quarter.

Progress Software Stock Performance

Shares of Progress Software stock traded up $0.85 on Wednesday, reaching $63.34. 440,461 shares of the company were exchanged, compared to its average volume of 412,662. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 7.35 and a beta of 0.93. Progress Software has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The company's 50-day moving average is $66.90 and its two-hundred day moving average is $62.13.

Insider Activity

In other news, insider Ian Pitt sold 1,747 shares of the company's stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PRGS shares. Oppenheimer raised their target price on Progress Software from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research report on Monday, January 6th. Guggenheim upped their target price on shares of Progress Software from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. DA Davidson lifted their price target on Progress Software from $65.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Finally, StockNews.com raised Progress Software from a "buy" rating to a "strong-buy" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Progress Software has a consensus rating of "Buy" and a consensus target price of $70.17.

Progress Software Company Profile

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.

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