Progress Software (PRGS) Scheduled to Post Quarterly Earnings on Tuesday

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

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 25th. The software maker reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.13. Progress Software had a net margin of 10.29% and a return on equity of 36.88%. The firm 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

NASDAQ:PRGS opened at $57.59 on Monday. Progress Software has a 52-week low of $48.00 and a 52-week high of $60.33. The stock has a fifty day moving average of $57.08 and a 200 day moving average of $53.51. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 1.12. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 35.12, a P/E/G ratio of 7.45 and a beta of 0.91.

Insider Transactions at Progress Software

In other Progress Software news, insider Kathryn Kulikoski sold 2,918 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.09, for a total value of $157,834.62. Following the completion of the transaction, the insider now owns 4,142 shares in the company, valued at $224,040.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Progress Software news, EVP Loren Jarrett sold 9,961 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $55.98, for a total transaction of $557,616.78. Following the sale, the executive vice president now owns 13,406 shares in the company, valued at approximately $750,467.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathryn Kulikoski sold 2,918 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $54.09, for a total value of $157,834.62. Following the transaction, the insider now directly owns 4,142 shares of the company’s stock, valued at approximately $224,040.78. The disclosure for this sale can be found here. In the last three months, insiders sold 13,763 shares of company stock valued at $765,004. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

PRGS has been the subject of several recent analyst reports. DA Davidson reissued a “buy” rating and set a $65.00 price objective on shares of Progress Software in a report on Tuesday, September 10th. Jefferies Financial Group decreased their price target on shares of Progress Software from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, June 26th. Guggenheim reaffirmed a “buy” rating and set a $64.00 price objective on shares of Progress Software in a report on Tuesday, June 25th. Wedbush reissued an “outperform” rating and issued a $68.00 target price on shares of Progress Software in a research note on Tuesday, September 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $66.00 price target on shares of Progress Software in a research note on Wednesday, June 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently 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.