Progress Software (PRGS) to Release Earnings on Monday

Progress Software (NASDAQ:PRGS) is projected to release 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 Price Performance

PRGS stock opened at $51.39 on Friday. Progress Software has a 1 year low of $48.00 and a 1 year high of $70.56. The firm has a 50-day moving average of $56.06 and a 200 day moving average of $62.06. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $2.23 billion, a P/E ratio of 32.94, a PEG ratio of 2.82 and a beta of 0.88.

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the transaction, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total transaction of $83,881.20. Following the transaction, the insider now owns 7,613 shares in the company, valued at $430,895.80. This represents a 16.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock worth $984,621 over the last three months. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

About Progress Software

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.