Development Software program (NASDAQ:PRGS – Get Ranking) issued its quarterly earnings data on Tuesday. The software program maker reported $.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $.85 by $.12, MarketWatch Earnings reviews. The small business had earnings of $147.51 million for the duration of the quarter, in comparison to the consensus estimate of $139.24 million. Development Software program experienced a internet margin of 14.76% and a return on equity of 39.12%. The firm’s earnings was up 11.9% in contrast to the exact same quarter past year. In the course of the exact same quarter in the prior yr, the firm acquired $.82 EPS.
Shares of PRGS traded up $1.45 throughout buying and selling several hours on Tuesday, hitting $46.20. The company’s inventory experienced a trading quantity of 312,442 shares, as opposed to its typical volume of 321,015. The business has a industry cap of $2.04 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 6.50 and a beta of 1.15. The enterprise has a credit card debt-to-fairness ratio of 1.30, a existing ratio of 1.05 and a brief ratio of 1.05. The organization has a 50 working day straightforward going ordinary of $44.64 and a two-hundred day basic moving regular of $47.40. Development Program has a 52-week low of $41.68 and a 52-week substantial of $53.99.
The business also not long ago declared a quarterly dividend, which was compensated on Tuesday, March 15th. Stockholders of file on Tuesday, March 1st have been paid a $.175 dividend. The ex-dividend date was Monday, February 28th. This represents a $.70 annualized dividend and a dividend generate of 1.52%. Progress Software’s payout ratio is 40.00%.
A number of investigate companies have a short while ago weighed in on PRGS. Zacks Investment Investigate lower shares of Development Software from a “buy” rating to a “hold” ranking in a investigation report on Wednesday, March 23rd. StockNews.com upgraded shares of Progress Program from a “buy” score to a “strong-buy” ranking in a report on Friday, February 25th. Ultimately, Citigroup dropped their selling price objective on shares of Development Software from $50.00 to $48.00 in a investigation be aware on Wednesday, January 19th. Two analysts have rated the stock with a maintain ranking, 3 have issued a invest in rating and 1 has presented a sturdy buy score to the company. In accordance to MarketBeat.com, the stock now has an average rating of “Buy” and a consensus rate target of $55.00.
A number of institutional investors have just lately produced variations to their positions in PRGS. Morgan Stanley lifted its situation in Development Software package by 83.5% for the duration of the next quarter. Morgan Stanley now owns 215,564 shares of the software program maker’s stock valued at $9,970,000 soon after acquiring an more 98,118 shares all through the past quarter. LPL Economical LLC lifted its holdings in shares of Development Software package by 382.3% in the 4th quarter. LPL Monetary LLC now owns 75,952 shares of the computer software maker’s stock worthy of $3,666,000 right after obtaining an extra 60,205 shares during the final quarter. Stifel Money Corp purchased a new stake in shares of Development Software package in the 4th quarter worthy of close to $2,322,000. BlackRock Inc. lifted its holdings in shares of Progress Software package by .4% in the 4th quarter. BlackRock Inc. now owns 8,136,361 shares of the application maker’s inventory worthy of $392,743,000 after acquiring an further 30,599 shares through the final quarter. At last, Kingsview Wealth Management LLC purchased a new stake in Progress Application throughout the 4th quarter valued at $997,000. Institutional buyers and hedge resources individual 99.56% of the company’s inventory.
Progress Software package Business Profile (Get Rating)
Progress Software package Company develops, deploys, and manages organization purposes. The enterprise provides OpenEdge, a advancement software package, which builds multi-language applications for safe deployment throughout many platforms and gadgets, as very well as cloud developer applications that is composed of elements for person interface advancement for Net, cellular, desktop, chat, and AR/VR applications, as nicely as automatic application testing and reporting tools Sitefinity, a world wide web content management and consumer analytics system Corticon, a business guidelines management method that offers purposes with conclusion automation and transform system, and decision-relevant perception abilities.
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