Progress Software (PRGS) to Release Quarterly Earnings on Tuesday

Progress Software (NASDAQ:PRGS) is expected to be posting its quarterly 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. Persons interested in registering for the company’s earnings conference call can do so using this link.

Progress Software Stock Down 1.2 %

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

Insiders Place Their Bets

In related news, insider Ian Pitt sold 1,747 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 3,167 shares in the company, valued at $206,076.69. This trade represents a 35.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of research reports. Citigroup lifted their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group boosted their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. DA Davidson increased their price target on Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com upgraded Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Friday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus target price 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.