Progress Software (NASDAQ:PRGS – Get Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.15-1.25 for the period, compared to the consensus earnings per share estimate of $1.28. The company issued revenue guidance of $207-217 million, compared to the consensus revenue estimate of $194.14 million.
Progress Software Stock Performance
Shares of NASDAQ:PRGS traded up $0.27 during midday trading on Tuesday, hitting $57.15. The stock had a trading volume of 818,765 shares, compared to its average volume of 473,840. The company has a market capitalization of $2.44 billion, a PE ratio of 34.40, a P/E/G ratio of 7.45 and a beta of 0.91. The stock has a 50 day moving average price of $57.12 and a two-hundred day moving average price of $53.53. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. Progress Software has a 1 year low of $48.00 and a 1 year high of $60.33.
Progress Software (NASDAQ:PRGS – Get Free Report) last announced its earnings results on Tuesday, June 25th. The software maker reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. The company had revenue of $175.08 million during the quarter, compared to analysts’ expectations of $168.60 million. Progress Software had a net margin of 10.29% and a return on equity of 36.88%. As a group, equities analysts predict that Progress Software will post 3.91 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Check Out Our Latest Stock Report on PRGS
Insider Activity at Progress Software
In related news, insider Kathryn Kulikoski sold 2,918 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.09, for a total value of $157,834.62. Following the completion of the transaction, the insider now owns 4,142 shares in the company, valued at approximately $224,040.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Loren Jarrett sold 9,961 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $55.98, for a total transaction of $557,616.78. Following the completion of the transaction, the executive vice president now owns 13,406 shares in the company, valued at approximately $750,467.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kathryn Kulikoski sold 2,918 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $54.09, for a total transaction of $157,834.62. Following the sale, the insider now directly owns 4,142 shares of the company’s stock, valued at $224,040.78. The disclosure for this sale can be found here. Insiders sold 13,763 shares of company stock worth $765,004 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.
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.
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