Insider Selling: Barry N. Bycoff Sells 18,922 Shares of Progress Software Corp. Stock (PRGS)
Progress Software Corp. (NASDAQ:PRGS) Director Barry N. Bycoff unloaded 18,922 shares of the company’s stock on the open market in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $24.58, for a total transaction of $465,102.76. Following the sale, the director now directly owns 25,741 shares of the company’s stock, valued at approximately $632,714. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on PRGS shares. Analysts at Zacks downgraded shares of Progress Software Corp. from an “outperform” rating to an “underperform” rating in a research note to investors on Wednesday, January 15th. They now have a $23.20 price target on the stock. Separately, analysts at JMP Securities downgraded shares of Progress Software Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, December 12th. They now have a $28.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.04.
Progress Software Corp. (NASDAQ:PRGS) traded down 1.08% during mid-day trading on Monday, hitting $23.88. 305,046 shares of the company’s stock traded hands. Progress Software Corp. has a one year low of $20.41 and a one year high of $26.95. The stock’s 50-day moving average is $25.11 and its 200-day moving average is $25.4. The company has a market cap of $1.235 billion and a price-to-earnings ratio of 17.83.
Progress Software Corp. (NASDAQ:PRGS) last posted its quarterly earnings results on Thursday, January 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. The company had revenue of $91.00 million for the quarter, compared to the consensus estimate of $90.84 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, analysts predict that Progress Software Corp. will post $1.46 earnings per share for the current fiscal year.
Progress Software Corporation is a global software company. The Company’s portfolio of products provides solutions for enterprise integration, data interoperability and application development, including software-as-a-service (NASDAQ:PRGS) enablement and delivery in the Cloud.
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