April 14, 2021


Advances in world technology

Progress Program (NASDAQ:PRGS) Challenges FY21 Earnings Steering

Development Software package (NASDAQ:PRGS) issued an update on its FY21 earnings guidance on Thursday early morning. The firm furnished EPS advice of $3.22-3.28 for the period of time, when compared to the Thomson Reuters consensus EPS estimate of $3.23. The organization issued profits advice of $513-521 million, in comparison to the consensus income estimate of $516.20 million.Progress Software package also up-to-date its FY 2021
After-Several hours advice to 3.22-3.28 EPS.

NASDAQ PRGS traded up $1.34 for the duration of trading hrs on Thursday, reaching $48.81. The company’s inventory experienced a investing volume of 606,757 shares, compared to its normal volume of 329,090. The company has a fifty day easy relocating regular of $43.29 and a 200-day easy going average of $38.81. The inventory has a marketplace cap of $2.20 billion, a P/E ratio of 39.05 and a beta of 1.02. Development Software program has a 52 7 days lower of $28.09 and a 52 week higher of $52.50. The enterprise has a personal debt-to-fairness ratio of .74, a recent ratio of 1.41 and a fast ratio of 1.41.

Development Software (NASDAQ:PRGS) last issued its quarterly earnings information on Thursday, January 14th. The application maker reported $.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $.78 by $.13. The organization had earnings of $129.06 million during the quarter, compared to analyst estimates of $118.77 million. Progress Application had a net margin of 13.12% and a return on fairness of 33.98%. The firm’s quarterly earnings was up 4.6% on a calendar year-more than-calendar year basis. During the same quarter past calendar year, the organization gained $.79 EPS. On average, analysis analysts assume that Development Computer software will post 2.55 earnings per share for the current yr.

The corporation also lately announced a quarterly dividend, which will be compensated on Monday, March 15th. Shareholders of history on Monday, March 1st will be offered a dividend of $.175 for every share. This signifies a $.70 dividend on an annualized foundation and a generate of 1.43%. Development Software’s dividend payout ratio is presently 30.57%.

Individually, Zacks Investment decision Analysis lifted shares of Development Software package from a keep score to a purchase rating and established a $44.00 concentrate on price for the business in a study report on Tuesday, October 27th.

About Progress Program

Progress Computer software Company develops small business purposes. The business operates by means of a few segments: OpenEdge, Facts Connectivity and Integration, and Software Progress and Deployment. The OpenEdge segment provides Development OpenEdge, a development program, which builds multi-language apps for protected deployment throughout different platforms and gadgets, as effectively as cloud Progress Corticon, a business enterprise rules management system that allows applications with conclusion automation and change method, and selection-associated perception capabilities Development Kinvey, a system for building company programs MOVEit that supplies secure collaboration and automatic file transfers of crucial business information WhatsUp Gold, a network monitoring solution and DataRPM, a cognitive predictive maintenance resolution for industrial IoT.

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