Progress Software (NASDAQ:PRGS – Get Free Report) announced its quarterly earnings results on Tuesday. The software maker reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12, Briefing.com reports. The firm had revenue of $178.69 million for the quarter, compared to the consensus estimate of $176.16 million. Progress Software had a net margin of 10.29% and a return on equity of 36.88%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share.
Progress Software Price Performance
Shares of Progress Software stock opened at $57.15 on Wednesday. The firm has a market capitalization of $2.44 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 7.28 and a beta of 0.91. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. Progress Software has a 12 month low of $48.00 and a 12 month high of $60.33. The business’s 50-day moving average price is $57.13 and its 200-day moving average price is $53.55.
Insider Buying and Selling
In other Progress Software news, EVP Loren Jarrett sold 9,961 shares of Progress Software stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $55.98, for a total transaction of $557,616.78. Following the transaction, the executive vice president now directly owns 13,406 shares of the company’s stock, valued at $750,467.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Loren Jarrett sold 9,961 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $55.98, for a total transaction of $557,616.78. Following the transaction, the executive vice president now directly owns 13,406 shares of the company’s stock, valued at $750,467.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Pitt sold 584 shares of Progress Software stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $55.00, for a total value of $32,120.00. Following the completion of the transaction, the insider now owns 3,167 shares in the company, valued at approximately $174,185. The disclosure for this sale can be found here. Insiders sold 13,763 shares of company stock worth $765,004 in the last quarter. 3.40% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on PRGS
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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