Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Progress Software Corporation (PRGS) Stock Price
News coverage about Progress Software Corporation (NASDAQ:PRGS) has been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Progress Software Corporation earned a media sentiment score of 0.11 on Accern’s scale. Accern also assigned headlines about the software maker an impact score of 46.9135797845322 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Progress Software Corporation (PRGS) Lowered to “Hold” at Zacks Investment Research (americanbankingnews.com)
- Progress Software Corporation (PRGS) Upgraded to Buy at Zacks Investment Research (americanbankingnews.com)
- Activist investor to Progress Software: ‘We’re not going away’ (finance.yahoo.com)
- Progress Software Announces Details for Fiscal Third Quarter 2017 Earnings Release and Conference Call (finance.yahoo.com)
- Progress Software Comments on Letter from Praesidium Investment Management (finance.yahoo.com)
Progress Software Corporation (PRGS) traded up 0.65% on Friday, reaching $37.29. The company had a trading volume of 325,408 shares. The stock’s market capitalization is $1.80 billion. The stock’s 50-day moving average price is $33.44 and its 200-day moving average price is $30.75. Progress Software Corporation has a 12-month low of $25.55 and a 12-month high of $38.51.
Progress Software Corporation (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, June 28th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $91.53 million. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. On average, equities research analysts anticipate that Progress Software Corporation will post $1.80 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a dividend of $0.14 per share. This is a boost from Progress Software Corporation’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.50%. Progress Software Corporation’s dividend payout ratio is -42.74%.
A number of research firms recently commented on PRGS. Zacks Investment Research raised Progress Software Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Friday. Wedbush reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Progress Software Corporation in a research note on Monday, September 18th. Benchmark Co. reaffirmed a “buy” rating and issued a $42.00 price target (up previously from $34.00) on shares of Progress Software Corporation in a research note on Wednesday, September 13th. BidaskClub raised Progress Software Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, TheStreet raised Progress Software Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $37.50.
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Progress Software Corporation Company Profile
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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