April 17, 2021

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Advances in world technology

Development Software (NASDAQ:PRGS) PT Lifted to $55.00 at Wedbush

Progress Software (NASDAQ:PRGS) experienced its target selling price hoisted by Wedbush from $45.00 to $55.00 in a report released on Friday early morning, Analyst Scores Community reviews. The business at this time has an outperform rating on the software package maker’s stock. Wedbush also issued estimates for Development Software’s Q1 2021 earnings at $.65 EPS and FY2021 earnings at $2.84 EPS.

Separately, Zacks Financial investment Investigate upgraded Development Computer software from a maintain rating to a purchase ranking and established a $44.00 goal rate on the inventory in a exploration report on Tuesday, October 27th.

Shares of PRGS traded down $1.23 through mid-working day investing on Friday, hitting $42.91. 28,113 shares of the firm traded hands, as opposed to its normal volume of 258,251. Development Computer software has a 1-yr minimal of $28.09 and a 1-year significant of $52.50. The corporation has a fast ratio of 1.41, a existing ratio of 1.41 and a debt-to-fairness ratio of .74. The business has a marketplace capitalization of $1.94 billion, a PE ratio of 18.69 and a beta of 1.12. The small business has a 50 working day shifting normal of $43.64 and a 200 working day relocating common of $38.92.

Development Software package (NASDAQ:PRGS) previous posted its quarterly earnings information on Wednesday, January 13th. The software package maker noted $.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $.78 by $.13. Development Program had a net margin of 13.12% and a return on fairness of 33.98%. The business had earnings of $129.06 million for the quarter, when compared to the consensus estimate of $118.77 million. All through the very same quarter in the prior calendar year, the firm posted $.79 earnings for every share. The company’s income for the quarter was up 4.6% as opposed to the exact same quarter very last year. As a team, investigate analysts be expecting that Development Computer software will article 2.9 EPS for the recent fiscal year.

The firm also just lately announced a quarterly dividend, which will be compensated on Monday, March 15th. Investors of file on Monday, March 1st will be presented a $.175 dividend. The ex-dividend date of this dividend is Friday, February 26th. This signifies a $.70 dividend on an annualized basis and a generate of 1.63%. Progress Software’s dividend payout ratio is at the moment 26.12%.

Hedge funds and other institutional buyers have just lately modified their holdings of the inventory. Marshall Wace North The us L.P. procured a new stake in Progress Software package in the 1st quarter worth about $28,000. Harel Insurance plan Investments & Money Solutions Ltd. ordered a new stake in Progress Computer software in the 3rd quarter worthy of close to $43,000. Amundi Pioneer Asset Management Inc. bought a new stake in Progress Application in the 1st quarter truly worth somewhere around $164,000. Wedge Funds Administration L L P NC obtained a new stake in Development Computer software in the 4th quarter well worth roughly $224,000. At last, Crossmark International Holdings Inc. purchased a new stake in Progress Application in the 4th quarter worthy of roughly $227,000. Hedge cash and other institutional traders own 88.93% of the company’s inventory.

Progress Application Firm Profile

Development Software package Corporation develops enterprise applications. The company operates by 3 segments: OpenEdge, Info Connectivity and Integration, and Application Development and Deployment. The OpenEdge section delivers Progress OpenEdge, a improvement computer software, which builds multi-language programs for protected deployment throughout several platforms and products, as effectively as cloud Progress Corticon, a company rules management technique that enables applications with determination automation and alter course of action, and selection-related insight abilities Progress Kinvey, a platform for constructing business apps MOVEit that gives protected collaboration and automated file transfers of vital company data WhatsUp Gold, a network checking answer and DataRPM, a cognitive predictive servicing alternative for industrial IoT.

See Also: Gross Domestic Product or service (GDP)

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