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NASDAQ:PRGS

Progress Software (PRGS) Stock Price, News & Analysis

Progress Software logo
$67.11 +1.32 (+2.01%)
(As of 11/20/2024 ET)

About Progress Software Stock (NASDAQ:PRGS)

Key Stats

Today's Range
$65.36
$67.18
50-Day Range
$56.88
$68.53
52-Week Range
$48.00
$68.95
Volume
1.11 million shs
Average Volume
498,081 shs
Market Capitalization
$2.88 billion
P/E Ratio
35.89
Dividend Yield
1.04%
Price Target
$67.67
Consensus Rating
Moderate Buy

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.

Progress Software Stock Analysis - MarketRank™

See Top Rated MarketRank™ Stocks
81st Percentile Overall Score

PRGS MarketRank™: 

Progress Software scored higher than 81% of companies evaluated by MarketBeat, and ranked 191st out of 648 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

  • 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 4 research reports in the past 90 days.

  • Read more about Progress Software's stock forecast and price target.
  • 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 35.89, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 131.22.

  • Price to Earnings Ratio vs. Sector

    The P/E ratio of Progress Software is 35.89, 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 258.40.

  • Price to Earnings Growth Ratio

    Progress Software has a PEG Ratio of 8.39. 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 6.36. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

  • Read more about Progress Software's valuation and earnings.
  • Percentage of Shares Shorted

    11.02% 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 9.1.
  • Change versus previous month

    Short interest in Progress Software has recently decreased by 3.53%, indicating that investor sentiment is improving.
  • Dividend Yield

    Progress Software pays a meaningful dividend of 1.06%, 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.

  • Read more about Progress Software's dividend.
  • Percentage of Shares Shorted

    11.02% 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 9.1.
  • Change versus previous month

    Short interest in Progress Software has recently decreased by 3.53%, indicating that investor sentiment is improving.
  • News Sentiment

    Progress Software has a news sentiment score of 1.43. 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 0.58 average news sentiment score of Computer and Technology companies.
  • News Coverage This Week

    MarketBeat has tracked 4 news articles for Progress Software this week, compared to 8 articles on an average week.
  • Search Interest

    Only 3 people have searched for PRGS on MarketBeat in the last 30 days. This is a decrease of -40% compared to the previous 30 days.
  • MarketBeat Follows

    Only 3 people have added Progress Software to their MarketBeat watchlist in the last 30 days. This is a decrease of -63% compared to the previous 30 days.
  • 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.

  • Read more about Progress Software's insider trading history.
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PRGS Stock News Headlines

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PRGS Stock Analysis - Frequently Asked Questions

Progress Software's stock was trading at $54.30 at the start of the year. Since then, PRGS shares have increased by 23.6% and is now trading at $67.11.
View the best growth stocks for 2024 here
.

Progress Software Co. (NASDAQ:PRGS) issued its quarterly earnings data on Tuesday, September, 24th. The software maker reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.12. The business's quarterly revenue was up 1.7% on a year-over-year basis.

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

Top institutional shareholders of Progress Software include Boston Trust Walden Corp (4.59%), Principal Financial Group Inc. (2.44%), Geode Capital Management LLC (2.35%) and Wellington Management Group LLP (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
.

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.

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

Ex-Dividend for 9/16 Dividend
8/30/2024
Dividend Payable
9/16/2024
Last Earnings
9/24/2024
Today
11/20/2024
Fiscal Year End
11/30/2024
Next Earnings (Estimated)
1/21/2025

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
$67.67
High Stock Price Target
$80.00
Low Stock Price Target
$55.00
Potential Upside/Downside
+0.8%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.83
Research Coverage
6 Analysts

Profitability

Net Income
$70.20 million
Pretax Margin
13.44%

Debt

Sales & Book Value

Annual Sales
$694.44 million
Cash Flow
$6.24 per share
Book Value
$10.55 per share

Miscellaneous

Free Float
41,489,000
Market Cap
$2.88 billion
Optionable
Optionable
Beta
0.92

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This page (NASDAQ:PRGS) was last updated on 11/21/2024 by MarketBeat.com Staff
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