Progress Software (NASDAQ:PRGS) announced its earnings results on Wednesday. The software maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.54 by $0.13, Bloomberg Earnings reports. The business had revenue of $116.30 million during the quarter, compared to the consensus estimate of $114.33 million. Progress Software had a net margin of 11.48% and a return on equity of 11.42%. Progress Software’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. Progress Software updated its Q1 guidance to $0.46-0.48 EPS and its FY18 guidance to $2.29-2.35 EPS.

Progress Software (PRGS) traded up $6.88 during mid-day trading on Thursday, reaching $50.55. 1,919,420 shares of the company were exchanged, compared to its average volume of 558,715. The firm has a market cap of $2,420.00, a PE ratio of 65.65 and a beta of 0.65. Progress Software has a twelve month low of $27.16 and a twelve month high of $51.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 1.27.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.11%. Progress Software’s dividend payout ratio is 72.73%.

Progress Software declared that its board has initiated a share buyback program on Wednesday, September 27th that authorizes the company to buyback $159.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

A number of analysts have issued reports on PRGS shares. Zacks Investment Research downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. Benchmark restated a “buy” rating and issued a $42.00 target price (up from $34.00) on shares of Progress Software in a research report on Wednesday, September 13th. ValuEngine cut shares of Progress Software from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Wedbush restated a “neutral” rating and issued a $32.00 target price on shares of Progress Software in a research report on Monday, September 18th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Progress Software presently has a consensus rating of “Hold” and a consensus price target of $40.33.

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Progress Software Company Profile

Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.

Earnings History for Progress Software (NASDAQ:PRGS)

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