Progress Software (PRGS) Announces Quarterly Results, Meets Estimates
Tuesday, June 28, 2021 6:09 PM

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Progress Software (PRGS) announced its quarterly results on Tuesday. The company reported $0.38 earnings per share for the quarter, meeting the Thomson Reuters consensus estimate of $0.38. The company’s quarterly revenue was up 5.5% on a year-over-year basis.

On a related note, analysts at Zacks Investment Research reiterated a "neutral" rating on shares of Progress Software in a research note to investors on Thursday, May 12nd. Also, analysts at Benchmark Co. reiterated a "buy" rating on shares of Progress Software in a research note to investors on Tuesday, March 29th. They now have a $31.00 price target on the stock.

Shares of Progress Software (PRGS) traded up 0.17% during mid-day trading on Tuesday, hitting $23.28. Progress Software (PRGS) has a 52 week low of $17.64 and a 52 week high of $31.47. The stock's 50-day moving average is $25.5 and its 200-day moving average is $28.06. The company has a market cap of $1.560 billion and a price-to-earnings ratio of 22.72.

Progress Software Corporation is a supplier of application infrastructure software and services for the development, deployment, integration and management of business applications. The Company develops, markets and distributes its products to businesses, industries and governments worldwide. It also provides consulting, training and customer support services. The Company’s segments include Application Development Platforms, which includes the OpenEdge, Orbix and ObjectStore products; Enterprise Business Solutions, which includes the Apama, Sonic, Progress Actional and FUSE products, and Enterprise Data Solutions, which includes the DataDirect Connect, DataDirect Shadow, DataXtend and data services platform products. On January 8, 2010, the Company acquired Savvion, Inc. (Savvion). In October 2010, the Company announced that FuseSource Corporation, a provider of professional open source integration and messaging software, would operate as a wholly owned subsidiary.

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