April 13, 2021

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Progress Software program (NASDAQ:PRGS) Updates FY 2021 Immediately after-Hours Earnings Assistance


Development Software package (NASDAQ:PRGS) issued an update on its FY 2021
Following-Hours earnings steerage on Thursday morning. The enterprise provided earnings per share steerage of 3.22-3.28 for the period of time, as opposed to the Thomson Reuters consensus earnings for every share estimate of $3.21. The corporation issued profits steering of $513-521 million, compared to the consensus profits estimate of $516.2 million.Development Software program also up to date its FY21 direction to $3.22-3.28 EPS.

Shares of PRGS stock opened at $44.14 on Friday. The stock has a marketplace capitalization of $1.99 billion, a P/E ratio of 35.31 and a beta of 1.02. The corporation has a existing ratio of 1.41, a swift ratio of 1.41 and a credit card debt-to-fairness ratio of .74. The firm’s 50 working day moving normal is $43.64 and its 200 day going common is $38.92. Development Software package has a 12 month reduced of $28.09 and a 12 month large of $52.50.

Development Computer software (NASDAQ:PRGS) final posted its earnings results on Wednesday, January 13th. The application maker reported $.91 earnings for every share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $.78 by $.13. Development Software program had a web margin of 13.12% and a return on fairness of 33.98%. The small business experienced profits of $129.06 million for the quarter, as opposed to analysts’ expectations of $118.77 million. During the exact same period in the prior 12 months, the corporation posted $.79 EPS. The business’s revenue for the quarter was up 4.6% as opposed to the similar quarter final yr. On normal, equities analysts predict that Development Software program will publish 2.55 EPS for the present year.

The company also just lately declared a quarterly dividend, which will be compensated on Monday, March 15th. Shareholders of record on Monday, March 1st will be paid out a $.175 dividend. This signifies a $.70 annualized dividend and a yield of 1.59%. Development Software’s dividend payout ratio is presently 30.57%.

Many investigate firms have lately weighed in on PRGS. Wedbush elevated their cost aim on shares of Progress Computer software from $45.00 to $55.00 and gave the company an outperform rating in a research report on Friday. Zacks Financial investment Investigation upgraded shares of Development Computer software from a maintain score to a buy score and set a $44.00 rate aim on the inventory in a investigation report on Tuesday, October 27th.

Progress Software program Business Profile

Progress Software program Company develops company applications. The enterprise operates as a result of 3 segments: OpenEdge, Information Connectivity and Integration, and Software Growth and Deployment. The OpenEdge phase features Progress OpenEdge, a enhancement computer software, which builds multi-language purposes for protected deployment throughout numerous platforms and devices, as nicely as cloud Progress Corticon, a company procedures administration method that permits apps with determination automation and improve approach, and determination-associated perception abilities Progress Kinvey, a platform for building organization programs MOVEit that presents protected collaboration and automatic file transfers of essential small business information WhatsUp Gold, a network monitoring solution and DataRPM, a cognitive predictive routine maintenance resolution for industrial IoT.

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