Progress Software (PRGS) to Release Earnings on Monday

Progress Software (NASDAQ:PRGS) will likely be releasing its earnings data before the market opens on Monday, March 31st. Analysts expect Progress Software to post earnings of $1.04 per share and revenue of $235.64 million for the quarter.

Progress Software Stock Performance

NASDAQ PRGS opened at $51.39 on Friday. Progress Software has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a fifty day moving average of $56.06 and a 200-day moving average of $62.09. The company has a market capitalization of $2.23 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.82 and a beta of 0.88. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

Insider Transactions at Progress Software

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the sale, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at $242,000.72. This represents a 18.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,482 shares of company stock worth $984,621. Insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRGS. Citigroup lifted their price target on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Jefferies Financial Group boosted their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Guggenheim reiterated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research report on Friday, January 17th. DA Davidson reissued a “buy” rating and set a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. Finally, StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.00.

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.