April 17, 2021

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Development Application (NASDAQ:PRGS) Releases FY21 Earnings Guidance

Development Application (NASDAQ:PRGS) up-to-date its FY21 earnings guidance on Thursday. The business offered earnings for every share assistance of $3.22-3.28 for the time period, in comparison to the Thomson Reuters consensus earnings for every share estimate of $3.23. The firm issued revenue assistance of $513-521 million, in comparison to the consensus revenue estimate of $516.20 million.Development Software program also up-to-date its FY 2021
Soon after-Hours advice to 3.22-3.28 EPS.

Progress Software package stock opened at $44.14 on Friday. The company’s fifty working day moving normal price is $43.64 and its 200 working day moving typical price is $38.92. The enterprise has a financial debt-to-equity ratio of .74, a swift ratio of 1.41 and a present-day ratio of 1.41. The stock has a current market capitalization of $1.99 billion, a P/E ratio of 35.31 and a beta of 1.02. Development Software package has a 1 12 months small of $28.09 and a 1 calendar year superior of $52.50.

Development Computer software (NASDAQ:PRGS) very last introduced its quarterly earnings effects on Wednesday, January 13th. The application maker documented $.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $.78 by $.13. The company experienced profits of $129.06 million during the quarter, compared to analysts’ expectations of $118.77 million. Progress Program experienced a return on equity of 33.98% and a internet margin of 13.12%. The company’s quarterly income was up 4.6% compared to the identical quarter very last yr. Through the similar quarter in the prior calendar year, the small business attained $.79 earnings for every share. Offer-side analysts forecast that Development Software will article 2.55 EPS for the latest year.

The firm also not too long ago disclosed a quarterly dividend, which will be compensated on Monday, March 15th. Stockholders of file on Monday, March 1st will be compensated a $.175 dividend. This represents a $.70 dividend on an annualized basis and a dividend produce of 1.59%. The ex-dividend date of this dividend is Friday, February 26th. Progress Software’s dividend payout ratio is presently 30.57%.

PRGS has been the topic of quite a few analyst studies. Zacks Financial commitment Research upgraded Development Program from a keep score to a purchase score and established a $44.00 cost aim on the inventory in a study be aware on Tuesday, Oct 27th. Wedbush lifted their price aim on shares of Progress Program from $45.00 to $55.00 and gave the organization an outperform rating in a analysis observe on Friday.

About Progress Application

Progress Software Company develops business purposes. The business operates via a few segments: OpenEdge, Info Connectivity and Integration, and Application Improvement and Deployment. The OpenEdge section presents Progress OpenEdge, a growth program, which builds multi-language programs for protected deployment across numerous platforms and units, as perfectly as cloud Development Corticon, a business enterprise policies management method that permits apps with selection automation and improve system, and choice-connected perception abilities Progress Kinvey, a platform for building organization applications MOVEit that supplies safe collaboration and automatic file transfers of significant enterprise information WhatsUp Gold, a community monitoring remedy and DataRPM, a cognitive predictive routine maintenance alternative for industrial IoT.

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