August 15, 2022

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Technology Forever

Progress Software (NASDAQ:PRGS) Updates Q1 2021 After-Hours Earnings Guidance

Progress Software (NASDAQ:PRGS) updated its first quarter 2021
After-Hours earnings guidance on Thursday. The company provided earnings per share guidance of 0.72-0.76 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.81. The company issued revenue guidance of $119-123 million, compared to the consensus revenue estimate of $130.82 million.Progress Software also updated its FY 2021
After-Hours guidance to 3.22-3.28 EPS.

A number of research firms have issued reports on PRGS. Zacks Investment Research upgraded Progress Software from a hold rating to a buy rating and set a $44.00 target price for the company in a report on Tuesday, October 27th. Wedbush raised their price objective on Progress Software from $45.00 to $55.00 and gave the company an outperform rating in a report on Friday.

Shares of NASDAQ PRGS opened at $44.14 on Friday. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 35.31 and a beta of 1.02. The business has a 50-day moving average of $43.64 and a 200-day moving average of $38.92. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.41 and a quick ratio of 1.41. Progress Software has a fifty-two week low of $28.09 and a fifty-two week high of $52.50.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Wednesday, January 13th. The software maker reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Progress Software had a return on equity of 33.98% and a net margin of 13.12%. The company had revenue of $129.06 million during the quarter, compared to analysts’ expectations of $118.77 million. During the same quarter last year, the company earned $0.79 EPS. Progress Software’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts expect that Progress Software will post 2.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 15th. Investors of record on Monday, March 1st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.59%. Progress Software’s dividend payout ratio (DPR) is currently 30.57%.

About Progress Software

Progress Software Corporation develops business applications. The company operates through three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; MOVEit that provides secure collaboration and automated file transfers of critical business information; WhatsUp Gold, a network monitoring solution; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.

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