Progress Software Corporation (NASDAQ:PRGS) – Equities researchers at Wedbush upped their FY2018 earnings estimates for shares of Progress Software Corporation in a report issued on Wednesday. Wedbush analyst S. Koenig now anticipates that the software maker will post earnings per share of $1.56 for the year, up from their previous estimate of $1.55.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Progress Software Corporation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday. Benchmark Co. reiterated a “buy” rating and set a $42.00 price target (up previously from $34.00) on shares of Progress Software Corporation in a research report on Wednesday. BidaskClub upgraded Progress Software Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, TheStreet upgraded Progress Software Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, June 28th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $36.00.

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Shares of Progress Software Corporation (NASDAQ PRGS) traded up 1.81% on Friday, reaching $37.63. The company’s stock had a trading volume of 778,019 shares. Progress Software Corporation has a 12-month low of $25.55 and a 12-month high of $38.51. The stock’s market cap is $1.82 billion. The firm has a 50 day moving average price of $32.97 and a 200-day moving average price of $30.54.

Progress Software Corporation (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, June 28th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. The company had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $91.53 million. During the same period last year, the firm posted $0.33 earnings per share. Progress Software Corporation’s revenue was down 3.6% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in PRGS. Riverhead Capital Management LLC lifted its holdings in Progress Software Corporation by 76.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,530 shares of the software maker’s stock worth $109,000 after buying an additional 1,530 shares during the last quarter. Bank of Montreal Can increased its position in Progress Software Corporation by 25.3% in the 1st quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $117,000 after acquiring an additional 818 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Progress Software Corporation in the 1st quarter valued at about $126,000. Public Employees Retirement System of Ohio increased its position in Progress Software Corporation by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,921 shares of the software maker’s stock valued at $152,000 after acquiring an additional 44 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new position in Progress Software Corporation in the 1st quarter valued at about $206,000. Hedge funds and other institutional investors own 91.61% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from Progress Software Corporation’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 1.51%. Progress Software Corporation’s dividend payout ratio (DPR) is -42.74%.

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.

Earnings History and Estimates for Progress Software Corporation (NASDAQ:PRGS)

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