Progress Software (NASDAQ:PRGS) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS

Donna B. Jones

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Development Software (NASDAQ:PRGSGet Ranking) issued its quarterly earnings info on Tuesday. The software maker documented $.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $.85 by $.12, MarketWatch Earnings experiences. The enterprise experienced revenue of $147.51 million throughout the quarter, in comparison to the consensus estimate of $139.24 million. Development Software experienced a net margin of 14.76% and a return on fairness of 39.12%. The firm’s revenue was up 11.9% compared to the similar quarter past year. Through the similar quarter in the prior 12 months, the business attained $.82 EPS.

Shares of PRGS traded up $1.45 during trading several hours on Tuesday, hitting $46.20. The company’s inventory experienced a investing quantity of 312,442 shares, as opposed to its average quantity of 321,015. The corporation has a current market cap of $2.04 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 6.50 and a beta of 1.15. The business has a credit card debt-to-fairness ratio of 1.30, a present ratio of 1.05 and a speedy ratio of 1.05. The enterprise has a 50 day very simple relocating normal of $44.64 and a two-hundred working day basic transferring regular of $47.40. Development Application has a 52-7 days lower of $41.68 and a 52-week superior of $53.99.

The firm also a short while ago declared a quarterly dividend, which was compensated on Tuesday, March 15th. Stockholders of file on Tuesday, March 1st have been paid a $.175 dividend. The ex-dividend day was Monday, February 28th. This represents a $.70 annualized dividend and a dividend yield of 1.52%. Progress Software’s payout ratio is 40.00%.

Many research companies have just lately weighed in on PRGS. Zacks Expenditure Analysis lower shares of Progress Software from a “buy” ranking to a “hold” ranking in a analysis report on Wednesday, March 23rd. StockNews.com upgraded shares of Progress Software package from a “buy” score to a “strong-buy” rating in a report on Friday, February 25th. Lastly, Citigroup dropped their rate objective on shares of Progress Application from $50.00 to $48.00 in a investigate observe on Wednesday, January 19th. Two analysts have rated the inventory with a keep rating, three have issued a get ranking and a person has specified a robust get score to the corporation. In accordance to MarketBeat.com, the inventory at the moment has an regular ranking of “Buy” and a consensus price tag concentrate on of $55.00.

A number of institutional investors have recently built variations to their positions in PRGS. Morgan Stanley lifted its position in Progress Software program by 83.5% during the second quarter. Morgan Stanley now owns 215,564 shares of the software maker’s inventory valued at $9,970,000 soon after purchasing an further 98,118 shares in the course of the last quarter. LPL Monetary LLC lifted its holdings in shares of Development Software package by 382.3% in the 4th quarter. LPL Fiscal LLC now owns 75,952 shares of the computer software maker’s inventory truly worth $3,666,000 just after getting an additional 60,205 shares through the final quarter. Stifel Monetary Corp bought a new stake in shares of Progress Computer software in the 4th quarter worth approximately $2,322,000. BlackRock Inc. lifted its holdings in shares of Development Application by .4% in the 4th quarter. BlackRock Inc. now owns 8,136,361 shares of the software program maker’s stock worthy of $392,743,000 just after buying an extra 30,599 shares throughout the previous quarter. Finally, Kingsview Prosperity Management LLC bought a new stake in Progress Software package in the course of the 4th quarter valued at $997,000. Institutional investors and hedge funds have 99.56% of the company’s inventory.

Development Computer software Firm Profile (Get Rating)

Development Software Corporation develops, deploys, and manages organization applications. The enterprise gives OpenEdge, a enhancement program, which builds multi-language purposes for secure deployment throughout many platforms and equipment, as effectively as cloud developer resources that is composed of elements for user interface enhancement for World wide web, cell, desktop, chat, and AR/VR applications, as perfectly as automated software testing and reporting instruments Sitefinity, a web articles administration and purchaser analytics platform Corticon, a enterprise principles administration program that supplies applications with decision automation and change procedure, and decision-similar insight abilities.

Additional Studying

Earnings History for Progress Software (NASDAQ:PRGS)

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