Currently, there are 42.90M common shares owned by the public and among those 42.22M shares have been available to trade.
The company’s stock has a 5-day price change of 1.19% and -6.41% over the past three months. PRGS shares are trading -3.39% year to date (YTD), with the 12-month market performance up to 11.30% higher. It has a 12-month low price of $48.00 and touched a high of $70.56 over the same period. PRGS has an average intraday trading volume of 446.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.52%, -5.71%, and 7.32% respectively.
Institutional ownership of Progress Software Corp (NASDAQ: PRGS) shares accounts for 115.69% of the company’s 42.90M shares outstanding.
It has a market capitalization of $2.70B and a beta (3y monthly) value of 0.94. The stock’s trailing 12-month PE ratio is 33.72, while the earnings-per-share (ttm) stands at $1.87. The company has a PEG of 16.86 and a Quick Ratio of 1.23 with the debt-to-equity ratio at 1.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.64% over the week and 1.95% over the month.
Analysts forecast that Progress Software Corp (PRGS) will achieve an EPS of 1.21 for the current quarter, 1.41 for the next quarter and 5.62 for current fiscal year. The lowest estimate earnings-per-share for the quarter is 1.19 while analysts give the company a high EPS estimate of 1.19. Comparatively, EPS for the current quarter was 1.02 a year ago. Earnings per share for the fiscal year are expected to increase by 10.69%, and 16.73% over the next financial year. EPS should shrink at an annualized rate of 2.00% over the next five years, compared to 7.86% over the past 5-year period.
Looking at the support for the PRGS, a number of firms have released research notes about the stock. DA Davidson stated their Buy rating for the stock in a research note on March 28, 2024, with the firm’s price target at $65. Guggenheim coverage for the Progress Software Corp (PRGS) stock in a research note released on January 24, 2023 offered a Buy rating with a price target of $60. Jefferies was of a view on September 09, 2022 that the stock is Hold, while Guggenheim gave the stock Buy rating on August 12, 2022, issuing a price target of $60. JP Morgan on their part issued Overweight rating on October 22, 2021.
