Several brokerages have updated their recommendations and price targets on shares of Progress Software Corporation (NASDAQ: PRGS) in the last few weeks:

  • 9/29/2017 – Progress Software Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “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. It is also focused on providing partners and direct end users with a path to develop and integrate cloud-based applications. Its solutions include Progress OpenEdge and Progress Corticon. The DCI segment is focused on its data assets, including the data integration components of its cloud offerings. Its solutions include Progress DataDirect Connect and Progress DataDirect Cloud. The AppDev business segment is focused on generating customers for its application development assets. Its solutions include Dev Tools, NativeScript, Dev Cloud, Telerik Platform, Test Studio, Sitefinity and Progress Rollbase. Its offerings span Web, mobile and data. “
  • 9/28/2017 – Progress Software Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $42.00 price target on the stock. According to Zacks, “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. It is also focused on providing partners and direct end users with a path to develop and integrate cloud-based applications. Its solutions include Progress OpenEdge and Progress Corticon. The DCI segment is focused on its data assets, including the data integration components of its cloud offerings. Its solutions include Progress DataDirect Connect and Progress DataDirect Cloud. The AppDev business segment is focused on generating customers for its application development assets. Its solutions include Dev Tools, NativeScript, Dev Cloud, Telerik Platform, Test Studio, Sitefinity and Progress Rollbase. Its offerings span Web, mobile and data. “
  • 9/23/2017 – Progress Software Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Progress Software Corporation is a global supplier of application development, deployment and management technology, Internet and intranet enabling technologies and support services to business, industry and government. The company’s software products and services address these challenges by increasing developer productivity, by delivering applications with a low total cost of ownership and by enhancing performance and availability. The company’s products include application servers, databases, development tools and application management products. “
  • 9/22/2017 – Progress Software Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $42.00 price target on the stock. According to Zacks, “Progress Software Corporation is a global supplier of application development, deployment and management technology, Internet and intranet enabling technologies and support services to business, industry and government. The company’s software products and services address these challenges by increasing developer productivity, by delivering applications with a low total cost of ownership and by enhancing performance and availability. The company’s products include application servers, databases, development tools and application management products. “
  • 9/18/2017 – Progress Software Corporation had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $32.00 price target on the stock.
  • 9/16/2017 – Progress Software Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Progress Software Corporation is a global supplier of application development, deployment and management technology, Internet and intranet enabling technologies and support services to business, industry and government. The company’s software products and services address these challenges by increasing developer productivity, by delivering applications with a low total cost of ownership and by enhancing performance and availability. The company’s products include application servers, databases, development tools and application management products. “
  • 9/15/2017 – Progress Software Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $41.00 price target on the stock. According to Zacks, “Progress Software Corporation is a global supplier of application development, deployment and management technology, Internet and intranet enabling technologies and support services to business, industry and government. The company’s software products and services address these challenges by increasing developer productivity, by delivering applications with a low total cost of ownership and by enhancing performance and availability. The company’s products include application servers, databases, development tools and application management products. “
  • 9/13/2017 – Progress Software Corporation had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $42.00 price target on the stock, up previously from $34.00.
  • 8/30/2017 – Progress Software Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Progress Software Corporation is a global supplier of application development, deployment and management technology, Internet and intranet enabling technologies and support services to business, industry and government. The company’s software products and services address these challenges by increasing developer productivity, by delivering applications with a low total cost of ownership and by enhancing performance and availability. The company’s products include application servers, databases, development tools and application management products. “
  • 8/24/2017 – Progress Software Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

Shares of Progress Software Corporation (PRGS) remained flat at $41.11 during mid-day trading on Thursday. 197,947 shares of the company were exchanged. Progress Software Corporation has a one year low of $26.23 and a one year high of $41.21. The stock’s market cap is $1.98 billion. The stock’s 50 day moving average price is $36.47 and its 200-day moving average price is $31.89.

Progress Software Corporation (NASDAQ:PRGS) last announced its earnings results on Wednesday, September 27th. The software maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.08. The business had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.60 million. Progress Software Corporation had a negative net margin of 13.23% and a positive return on equity of 20.30%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that Progress Software Corporation will post $1.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.14 per share. 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 dividend yield of 1.36%. Progress Software Corporation’s dividend payout ratio (DPR) is -45.87%.

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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