April 14, 2021

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Wedbush Boosts Development Software package (NASDAQ:PRGS) Value Focus on to $55.00


Development Software package (NASDAQ:PRGS) had its price tag goal boosted by equities researchers at Wedbush from $45.00 to $55.00 in a analysis report issued to consumers and traders on Friday, Benzinga studies. The brokerage presently has an “outperform” ranking on the software package maker’s stock. Wedbush’s focus on rate implies a probable upside of 12.68% from the company’s recent cost.

Independently, Zacks Financial investment Exploration raised shares of Progress Software package from a “hold” rating to a “buy” score and established a $44.00 price tag focus on for the organization in a study report on Tuesday, Oct 27th.

PRGS opened at $48.81 on Friday. Progress Computer software has a 12-month reduced of $28.09 and a 12-thirty day period high of $52.50. The organization has a recent ratio of 1.41, a quick ratio of 1.41 and a credit card debt-to-fairness ratio of .74. The firm has a industry capitalization of $2.20 billion, a PE ratio of 39.05 and a beta of 1.02. The agency has a 50 day moving ordinary of $43.45 and a two-hundred day shifting normal of $38.86.

Development Application (NASDAQ:PRGS) last posted its quarterly earnings benefits on Wednesday, January 13th. The software program maker documented $.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $.78 by $.13. Progress Computer software had a internet margin of 13.12% and a return on equity of 33.98%. The corporation had income of $129.06 million throughout the quarter, in contrast to analyst estimates of $118.77 million. Through the exact period of time past yr, the business posted $.79 EPS. Development Software’s revenue for the quarter was up 4.6% when compared to the exact same quarter previous calendar year. As a group, analysts forecast that Progress Software package will article 2.55 EPS for the recent fiscal year.

Many large investors have recently acquired and marketed shares of the company. Marshall Wace North America L.P. acquired a new stake in Development Application in the 1st quarter value about $28,000. Harel Insurance plan Investments & Money Companies Ltd. acquired a new place in shares of Progress Program in the course of the 3rd quarter value $43,000. Amundi Pioneer Asset Administration Inc. acquired a new position in Progress Software package in the course of the initial quarter valued at $164,000. C M Bidwell & Associates Ltd. bought a new place in Progress Computer software during the 3rd quarter valued at $192,000. At last, Advisors Asset Administration Inc. lifted its place in Progress Software by 93.5% for the duration of the third quarter. Advisors Asset Administration Inc. now owns 5,324 shares of the computer software maker’s stock valued at $195,000 immediately after buying an added 2,573 shares all through the previous quarter. 92.88% of the inventory is owned by hedge money and other institutional buyers.

About Progress Software program

Progress Software program Corporation develops company applications. The company operates by 3 segments: OpenEdge, Facts Connectivity and Integration, and Application Enhancement and Deployment. The OpenEdge segment delivers Development OpenEdge, a development software package, which builds multi-language purposes for secure deployment across a variety of platforms and products, as nicely as cloud Progress Corticon, a small business principles management technique that permits applications with conclusion automation and adjust procedure, and determination-connected insight capabilities Progress Kinvey, a system for setting up business apps MOVEit that supplies secure collaboration and automated file transfers of critical enterprise information WhatsUp Gold, a community checking alternative and DataRPM, a cognitive predictive maintenance answer for industrial IoT.

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