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

Progress Software (NASDAQ:PRGS) is expected to be announcing its earnings results after the market closes on Tuesday, January 21st. Analysts expect Progress Software to post earnings of $1.21 per share and revenue of $211,341.93 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Progress Software Trading Down 1.2 %

PRGS opened at $62.94 on Friday. The stock has a market cap of $2.70 billion, a PE ratio of 33.66, a PEG ratio of 6.64 and a beta of 0.93. The business has a 50 day moving average of $66.65 and a 200-day moving average of $62.26. Progress Software has a 52 week low of $48.00 and a 52 week high of $70.56. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87.

Insider Activity

In related news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the completion of the sale, the insider now owns 3,167 shares in the company, valued at approximately $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.30% of the company’s stock.

Analysts Set New Price Targets

PRGS has been the topic of a number of research reports. Citigroup boosted their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. DA Davidson lifted their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Jefferies Financial Group upped their price target on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Finally, Oppenheimer lifted their price objective on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus price target of $71.71.

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.