Progress Software program Co. (NASDAQ:PRGS – Get Score) – Equities analysis analysts at Oppenheimer reduce their Q3 2022 earnings per share estimates for shares of Progress Software program in a report launched on Tuesday, June twenty eighth. Oppenheimer analyst I. Kidron now anticipates that the software program maker will earn $0.82 per share for the quarter, down from their prior estimate of $0.90. Oppenheimer has a “Outperform” ranking and a $53.00 value goal on the inventory. The consensus estimate for Progress Software program’s present full-year earnings is $3.45 per share. Oppenheimer additionally issued estimates for Progress Software program’s This autumn 2022 earnings at $0.93 EPS.
Progress Software program (NASDAQ:PRGS – Get Score) final issued its quarterly earnings knowledge on Tuesday, June twenty eighth. The software program maker reported $1.04 EPS for the quarter, topping the consensus estimate of $0.95 by $0.09. The agency had income of $148.70 million throughout the quarter, in comparison with the consensus estimate of $146.45 million. Progress Software program had a return on fairness of 39.08% and a web margin of 14.40%. The corporate’s quarterly income was up 15.1% in comparison with the identical quarter final 12 months. Throughout the identical interval within the prior 12 months, the enterprise posted $0.67 earnings per share.
A number of different brokerages have additionally weighed in on PRGS. Wedbush reissued an “outperform” ranking on shares of Progress Software program in a report on Wednesday. StockNews.com assumed protection on Progress Software program in a report on Thursday, March thirty first. They issued a “strong-buy” ranking for the corporate. Lastly, Citigroup elevated their value goal on Progress Software program from $48.00 to $52.00 and gave the inventory a “impartial” ranking in a analysis report on Wednesday, March thirtieth. One equities analysis analyst has rated the inventory with a maintain ranking, three have given a purchase ranking and one has issued a robust purchase ranking to the corporate’s inventory. Based mostly on knowledge from MarketBeat, the inventory presently has a mean ranking of “Purchase” and a consensus value goal of $55.00.
PRGS inventory opened at $45.03 on Friday. The agency has a market cap of $1.97 billion, a PE ratio of 25.16, a P/E/G ratio of seven.47 and a beta of 1.07. The corporate has a fast ratio of 1.21, a present ratio of 1.21 and a debt-to-equity ratio of 1.67. The enterprise has a 50 day transferring common of $47.73 and a 200-day transferring common of $46.44. Progress Software program has a 12-month low of $41.68 and a 12-month excessive of $53.99.
Numerous hedge funds have just lately made adjustments to their positions in PRGS. Paradice Funding Administration LLC bought a brand new stake in Progress Software program within the 1st quarter price $43,932,000. Glenmede Belief Co. NA grew its stake in Progress Software program by 8,237.3% within the 4th quarter. Glenmede Belief Co. NA now owns 355,838 shares of the software program maker’s inventory price $17,175,000 after buying a further 351,570 shares within the final quarter. Allspring International Investments Holdings LLC purchased a brand new place in Progress Software program within the 4th quarter price about $16,757,000. Wellington Administration Group LLP grew its stake in Progress Software program by 25.4% within the 1st quarter. Wellington Administration Group LLP now owns 1,236,034 shares of the software program maker’s inventory price $58,204,000 after buying a further 250,733 shares within the final quarter. Lastly, Assenagon Asset Administration S.A. grew its stake in Progress Software program by 568.8% within the 4th quarter. Assenagon Asset Administration S.A. now owns 214,395 shares of the software program maker’s inventory price $10,349,000 after buying a further 182,336 shares within the final quarter. Institutional traders and hedge funds personal 99.46% of the corporate’s inventory.
In different information, CAO Domenic Lococo bought 1,756 shares of the enterprise’s inventory in a transaction on Thursday, Might fifth. The shares had been bought at a mean value of $49.08, for a complete transaction of $86,184.48. Following the completion of the sale, the chief accounting officer now owns 1,647 shares of the corporate’s inventory, valued at roughly $80,834.76. The sale was disclosed in a authorized submitting with the SEC, which is offered at this hyperlink. Additionally, CEO Yogesh Ok. Gupta bought 5,000 shares of the corporate’s inventory in a transaction on Thursday, April twenty first. The inventory was bought at a mean value of $50.20, for a complete transaction of $251,000.00. Following the completion of the transaction, the chief govt officer now straight owns 90,000 shares of the corporate’s inventory, valued at roughly $4,518,000. The disclosure for this sale could be discovered right here. Insiders have bought 21,878 shares of firm inventory valued at $1,051,308 over the past quarter. Firm insiders personal 3.20% of the corporate’s inventory.
The corporate additionally just lately disclosed a quarterly dividend, which shall be paid on Thursday, September fifteenth. Shareholders of report on Thursday, September 1st shall be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, August thirty first. This represents a $0.70 annualized dividend and a yield of 1.55%. Progress Software program’s payout ratio is 39.11%.
About Progress Software program (Get Score)
Progress Software program Company develops, deploys, and manages enterprise purposes. The corporate gives OpenEdge, a growth software program, which builds multi-language purposes for safe deployment throughout numerous platforms and units, in addition to cloud; developer instruments that consists of elements for consumer interface growth for Internet, cell, desktop, chat, and AR/VR apps, in addition to automated software testing and reporting instruments; Sitefinity, an internet content material administration and buyer analytics platform; Corticon, a enterprise guidelines administration system that gives purposes with resolution automation and alter course of, and decision-related perception capabilities.
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