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

Development Software program (NASDAQ:PRGSGet Ranking) issued its quarterly earnings details on Tuesday. The application maker documented $.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $.85 by $.12, MarketWatch Earnings experiences. The organization experienced earnings of $147.51 million during the quarter, in contrast to the consensus estimate of $139.24 million. Development Software experienced a internet margin of 14.76% and a return on fairness of 39.12%. The firm’s revenue was up 11.9% compared to the identical quarter very last yr. Through the very same quarter in the prior calendar year, the organization acquired $.82 EPS.

Shares of PRGS traded up $1.45 during trading hours on Tuesday, hitting $46.20. The company’s inventory experienced a trading quantity of 312,442 shares, in contrast to its regular quantity of 321,015. The organization has a 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 company has a credit card debt-to-fairness ratio of 1.30, a present ratio of 1.05 and a rapid ratio of 1.05. The business enterprise has a 50 working day basic shifting regular of $44.64 and a two-hundred working day straightforward transferring regular of $47.40. Progress Program has a 52-7 days very low of $41.68 and a 52-7 days significant of $53.99.

The agency also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of document on Tuesday, March 1st were being paid out a $.175 dividend. The ex-dividend date 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 investigation corporations have a short while ago weighed in on PRGS. Zacks Investment decision Study lower shares of Development Software from a “buy” ranking to a “hold” score in a investigate report on Wednesday, March 23rd. StockNews.com upgraded shares of Development Application from a “buy” ranking to a “strong-buy” rating in a report on Friday, February 25th. Lastly, Citigroup dropped their value objective on shares of Progress Software from $50.00 to $48.00 in a research take note on Wednesday, January 19th. Two analysts have rated the inventory with a hold score, a few have issued a invest in rating and one has given a powerful purchase score to the business. In accordance to MarketBeat.com, the inventory presently has an typical score of “Buy” and a consensus price target of $55.00.

A quantity of institutional traders have lately made modifications to their positions in PRGS. Morgan Stanley lifted its place in Development Application by 83.5% for the duration of the next quarter. Morgan Stanley now owns 215,564 shares of the application maker’s inventory valued at $9,970,000 just after purchasing an supplemental 98,118 shares during the previous quarter. LPL Monetary LLC lifted its holdings in shares of Development Software program by 382.3% in the 4th quarter. LPL Financial LLC now owns 75,952 shares of the software maker’s stock value $3,666,000 soon after buying an supplemental 60,205 shares through the past quarter. Stifel Financial Corp acquired a new stake in shares of Development Software program in the 4th quarter value roughly $2,322,000. BlackRock Inc. lifted its holdings in shares of Progress Computer software by .4% in the 4th quarter. BlackRock Inc. now owns 8,136,361 shares of the software program maker’s stock really worth $392,743,000 following acquiring an supplemental 30,599 shares through the last quarter. Eventually, Kingsview Prosperity Administration LLC purchased a new stake in Progress Software throughout the 4th quarter valued at $997,000. Institutional traders and hedge resources very own 99.56% of the company’s stock.

Progress Software package Business Profile (Get Score)

Progress Computer software Company develops, deploys, and manages enterprise purposes. The corporation offers OpenEdge, a growth computer software, which builds multi-language purposes for secure deployment throughout several platforms and gadgets, as nicely as cloud developer instruments that consists of factors for consumer interface growth for Internet, cellular, desktop, chat, and AR/VR apps, as nicely as automatic software testing and reporting tools Sitefinity, a web articles management and consumer analytics system Corticon, a business rules administration procedure that provides programs with selection automation and change approach, and decision-associated insight abilities.

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Earnings History for Progress Software (NASDAQ:PRGS)

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