Press coverage about Progress Software (NASDAQ:PRGS) has been trending somewhat positive on Saturday, Accern reports. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Progress Software earned a news impact score of 0.13 on Accern’s scale. Accern also gave news stories about the software maker an impact score of 46.325501562602 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have impacted Accern’s scoring:
Progress Software (NASDAQ PRGS) traded up $0.14 during trading on Friday, hitting $50.69. The company’s stock had a trading volume of 1,200,946 shares, compared to its average volume of 376,739. The company has a market cap of $2,416.69, a price-to-earnings ratio of 65.83 and a beta of 0.65. Progress Software has a twelve month low of $27.16 and a twelve month high of $51.99. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31.
Progress Software (NASDAQ:PRGS) last posted its earnings results on Wednesday, January 10th. The software maker reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.13. The business had revenue of $116.30 million during the quarter, compared to analyst estimates of $114.33 million. Progress Software had a return on equity of 21.25% and a net margin of 9.41%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. research analysts expect that Progress Software will post 1.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a $0.14 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.10%. Progress Software’s dividend payout ratio (DPR) is currently 72.73%.
Progress Software declared that its board has initiated a share buyback 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 purchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
PRGS has been the subject of several research reports. Zacks Investment Research raised Progress Software from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Friday, September 22nd. Benchmark reissued a “buy” rating and issued a $47.00 target price (up previously from $42.00) on shares of Progress Software in a research report on Tuesday, January 2nd. ValuEngine lowered Progress Software from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Wedbush reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Progress Software in a research report on Monday, September 18th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Progress Software currently has an average rating of “Hold” and an average target price of $40.33.
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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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