April 17, 2021

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Development Software package (NASDAQ:PRGS) Updates Q1 Earnings Assistance

Progress Program (NASDAQ:PRGS) issued an update on its initial quarter earnings steerage on Thursday morning. The corporation provided EPS advice of $.72-.76 for the time period, as opposed to the Thomson Reuters consensus EPS estimate of $.81. The organization issued earnings steering of $119-123 million, compared to the consensus revenue estimate of $130.82 million.Development Program also up-to-date its FY 2021
After-Several hours assistance to 3.22-3.28 EPS.

NASDAQ:PRGS traded up $1.34 during midday trading on Thursday, achieving $48.81. The inventory experienced a trading volume of 606,757 shares, compared to its regular quantity of 329,090. Progress Software program has a 1-year small of $28.09 and a 1-yr large of $52.50. The firm’s fifty day uncomplicated moving typical is $43.29 and its 200-working day very simple going ordinary is $38.81. The corporation has a personal debt-to-fairness ratio of .74, a recent ratio of 1.41 and a rapid ratio of 1.41. The inventory has a market capitalization of $2.20 billion, a P/E ratio of 39.05 and a beta of 1.02.

Development Software (NASDAQ:PRGS) very last posted its earnings effects on Thursday, January 14th. The computer software maker reported $.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $.78 by $.13. Progress Program had a web margin of 13.12% and a return on equity of 33.98%. The enterprise had earnings of $129.06 million for the quarter, in comparison to analyst estimates of $118.77 million. During the very same period of time previous 12 months, the enterprise posted $.79 EPS. Development Software’s profits was up 4.6% as opposed to the identical quarter past calendar year. On typical, equities research analysts foresee that Progress Program will put up 2.55 earnings per share for the current fiscal yr.

The company also not too long ago declared a quarterly dividend, which will be paid out on Monday, March 15th. Buyers of document on Monday, March 1st will be paid a $.175 dividend. This signifies a $.70 dividend on an annualized foundation and a yield of 1.43%. Development Software’s payout ratio is presently 30.57%.

Independently, Zacks Expenditure Research upgraded shares of Progress Program from a maintain score to a purchase ranking and established a $44.00 rate target on the inventory in a investigate report on Tuesday, October 27th.

About Development Software package

Progress Program Company develops organization applications. The firm operates by way of 3 segments: OpenEdge, Information Connectivity and Integration, and Software Development and Deployment. The OpenEdge phase presents Development OpenEdge, a enhancement software, which builds multi-language programs for safe deployment throughout a variety of platforms and equipment, as properly as cloud Progress Corticon, a company procedures administration technique that enables purposes with choice automation and modify process, and choice-connected insight abilities Progress Kinvey, a system for developing organization purposes MOVEit that gives safe collaboration and automated file transfers of significant enterprise information and facts WhatsUp Gold, a network checking resolution and DataRPM, a cognitive predictive maintenance solution for industrial IoT.

Study Far more: Retained Earnings

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