Media stories about Progress Software Corporation (NASDAQ:PRGS) have trended somewhat positive on Wednesday, Accern Sentiment Analysis reports. Accern identifies negative and positive media coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Progress Software Corporation earned a coverage optimism score of 0.08 on Accern’s scale. Accern also gave headlines about the software maker an impact score of 47.5136143552959 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Shares of Progress Software Corporation (PRGS) traded up 0.97% during mid-day trading on Wednesday, hitting $40.80. The stock had a trading volume of 100,136 shares. Progress Software Corporation has a 12-month low of $26.23 and a 12-month high of $40.99. The firm’s 50-day moving average price is $36.24 and its 200 day moving average price is $31.83. The stock’s market cap is $1.95 billion.
Progress Software Corporation (NASDAQ:PRGS) last released its quarterly earnings results on Wednesday, September 27th. The software maker reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.08. Progress Software Corporation had a positive return on equity of 20.30% and a negative net margin of 13.23%. The firm had revenue of $97.60 million during the quarter, compared to analysts’ expectations of $97.60 million. During the same period last year, the firm posted $0.44 EPS. The business’s revenue was down 4.7% on a year-over-year basis. Equities analysts forecast that Progress Software Corporation will post $1.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.39%. This is a boost from Progress Software Corporation’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 30th. Progress Software Corporation’s dividend payout ratio (DPR) is currently -45.87%.
Progress Software Corporation announced that its board has approved a stock buyback plan on Wednesday, September 27th that permits the company to repurchase $159.00 million in shares. This repurchase authorization permits the software maker to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Several research firms have recently issued reports on PRGS. BidaskClub cut Progress Software Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Wedbush reissued a “neutral” rating and issued a $32.00 price target on shares of Progress Software Corporation in a research note on Monday, September 18th. Zacks Investment Research cut Progress Software Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Benchmark Co. reissued a “buy” rating and issued a $42.00 price target (up previously from $34.00) on shares of Progress Software Corporation in a research note on Wednesday, September 13th. Finally, TheStreet raised Progress Software Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, June 28th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $37.50.
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Progress Software Corporation Company Profile
Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.
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