News coverage about Progress Software (NASDAQ:PRGS) has trended somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Progress Software earned a daily sentiment score of 0.09 on Accern’s scale. Accern also gave news headlines about the software maker an impact score of 45.7967569544024 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Progress Software (PRGS) Rating Lowered to Hold at ValuEngine (americanbankingnews.com)
- Progress Software Corporation (PRGS) Ex-Dividend Date Scheduled for November … (nasdaq.com)
- Progress Software (PRGS) Downgraded to Hold at Zacks Investment Research (americanbankingnews.com)
Shares of Progress Software (PRGS) opened at $41.15 on Wednesday. Progress Software has a 52-week low of $27.16 and a 52-week high of $42.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market capitalization of $1,981.16, a PE ratio of 25.27 and a beta of 0.65.
Progress Software (NASDAQ:PRGS) last announced its earnings results on Wednesday, September 27th. The software maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.40 by $0.08. Progress Software had a positive return on equity of 20.30% and a negative net margin of 13.23%. The company had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.60 million. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. research analysts forecast that Progress Software will post 1.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.14 per share. This is a positive change from Progress Software’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 30th. This represents a $0.56 annualized dividend and a dividend yield of 1.36%. Progress Software’s dividend payout ratio is presently -51.38%.
Progress Software declared that its Board of Directors has initiated a stock repurchase program on Wednesday, September 27th that permits the company to repurchase $159.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
PRGS has been the subject of several recent research reports. Zacks Investment Research raised Progress Software from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Friday, September 15th. Benchmark restated a “buy” rating and set a $42.00 target price (up previously from $34.00) on shares of Progress Software in a research report on Wednesday, September 13th. Wedbush restated a “neutral” rating and set a $32.00 target price on shares of Progress Software in a research report on Monday, September 18th. BidaskClub upgraded Progress Software from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, ValuEngine lowered Progress Software from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.50.
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About Progress Software
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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