Progress Software (PRGS) Scheduled to Post Earnings on Tuesday

Progress Software (NASDAQ:PRGS) is scheduled to release its earnings data after the market closes on Tuesday, September 24th. Analysts expect Progress Software to post earnings of $1.14 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, June 25th. The software maker reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Progress Software had a net margin of 10.29% and a return on equity of 36.88%. The company had revenue of $175.08 million for the quarter, compared to analysts’ expectations of $168.60 million. On average, analysts expect Progress Software to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Progress Software Price Performance

Shares of Progress Software stock opened at $57.59 on Friday. The stock’s 50-day simple moving average is $57.08 and its 200-day simple moving average is $53.50. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 35.12, a PEG ratio of 7.45 and a beta of 0.91. Progress Software has a 52 week low of $48.00 and a 52 week high of $60.33. The company has a quick ratio of 0.95, a current ratio of 1.12 and a debt-to-equity ratio of 1.98.

Insider Activity at Progress Software

In other news, insider Ian Pitt sold 584 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $55.00, for a total value of $32,120.00. Following the sale, the insider now directly owns 3,167 shares in the company, valued at approximately $174,185. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Kathryn Kulikoski sold 2,918 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.09, for a total transaction of $157,834.62. Following the transaction, the insider now directly owns 4,142 shares in the company, valued at approximately $224,040.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Ian Pitt sold 584 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $55.00, for a total value of $32,120.00. Following the completion of the sale, the insider now owns 3,167 shares of the company’s stock, valued at $174,185. The disclosure for this sale can be found here. Insiders have sold a total of 13,763 shares of company stock valued at $765,004 over the last quarter. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PRGS shares. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group dropped their price target on Progress Software from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, June 26th. Wedbush restated an “outperform” rating and set a $68.00 price objective on shares of Progress Software in a research report on Tuesday, September 10th. DA Davidson reaffirmed a “buy” rating and set a $65.00 price objective on shares of Progress Software in a research note on Tuesday, September 10th. Finally, Guggenheim reiterated a “buy” rating and issued a $64.00 price target on shares of Progress Software in a report on Tuesday, June 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average target price of $63.50.

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.