Progress Software (PRGS) to Release Earnings on Tuesday

Progress Software (NASDAQ:PRGSGet Rating) is scheduled to be releasing its earnings data after the market closes on Tuesday, June 28th. Analysts expect Progress Software to post earnings of $0.80 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Progress Software (NASDAQ:PRGSGet Rating) last announced its quarterly earnings results on Tuesday, March 29th. The software maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.72 by $0.13. Progress Software had a return on equity of 39.08% and a net margin of 14.40%. The business had revenue of $147.51 million for the quarter, compared to analyst estimates of $139.24 million. During the same quarter in the prior year, the company posted $0.82 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts expect Progress Software to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Progress Software stock opened at $46.93 on Tuesday. Progress Software has a 52 week low of $41.68 and a 52 week high of $53.99. The business’s fifty day simple moving average is $47.74 and its 200-day simple moving average is $46.43. The firm has a market cap of $2.05 billion, a PE ratio of 26.22, a price-to-earnings-growth ratio of 6.80 and a beta of 1.07. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.67.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, May 31st. Progress Software’s dividend payout ratio (DPR) is 39.11%.

In other Progress Software news, EVP John Ainsworth sold 5,122 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $48.14, for a total transaction of $246,573.08. Following the completion of the transaction, the executive vice president now owns 32,821 shares in the company, valued at approximately $1,580,002.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Domenic Lococo sold 1,756 shares of the business’s stock in a transaction that occurred on Thursday, May 5th. The stock was sold at an average price of $49.08, for a total transaction of $86,184.48. Following the transaction, the chief accounting officer now owns 1,647 shares of the company’s stock, valued at approximately $80,834.76. The disclosure for this sale can be found here. Insiders sold 18,159 shares of company stock valued at $875,294 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC boosted its holdings in shares of Progress Software by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 40,247 shares of the software maker’s stock valued at $1,895,000 after buying an additional 250 shares in the last quarter. Brinker Capital Investments LLC boosted its holdings in shares of Progress Software by 4.8% in the 1st quarter. Brinker Capital Investments LLC now owns 7,062 shares of the software maker’s stock valued at $333,000 after buying an additional 325 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Progress Software by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $123,000 after buying an additional 874 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Progress Software by 19.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,822 shares of the software maker’s stock valued at $322,000 after buying an additional 1,108 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Progress Software by 2.0% in the 4th quarter. California State Teachers Retirement System now owns 60,971 shares of the software maker’s stock valued at $2,943,000 after buying an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 99.46% of the company’s stock.

Several research analysts have recently commented on the stock. StockNews.com started coverage on shares of Progress Software in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company. Citigroup lifted their price objective on shares of Progress Software from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, March 30th.

About Progress Software (Get Rating)

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities.

Further Reading

Earnings History for Progress Software (NASDAQ:PRGS)

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