Media stories about Progress Software (NASDAQ:PRGS) have been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Progress Software earned a news impact score of 0.16 on Accern’s scale. Accern also gave news articles about the software maker an impact score of 46.4006043309402 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Here are some of the media stories that may have impacted Accern Sentiment’s analysis:

PRGS has been the topic of several research reports. Zacks Investment Research upgraded shares of Progress Software from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Friday, September 15th. ValuEngine downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Wedbush reiterated a “neutral” rating and set a $32.00 price target on shares of Progress Software in a research report on Monday, September 18th. BidaskClub upgraded shares of Progress Software from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, Benchmark reiterated a “buy” rating and set a $42.00 price target (up previously from $34.00) on shares of Progress Software in a research report on Wednesday, September 13th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.50.

Progress Software (PRGS) opened at $42.68 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28. Progress Software has a 52-week low of $27.16 and a 52-week high of $43.12. The stock has a market cap of $2,040.00, a PE ratio of 26.05 and a beta of 0.65.

Progress Software (NASDAQ:PRGS) last released its earnings results on Wednesday, September 27th. The software maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.08. Progress Software had a negative net margin of 13.23% and a positive return on equity of 20.30%. The company had revenue of $97.60 million for the quarter, compared to the consensus estimate of $97.60 million. During the same period in the prior year, the company posted $0.44 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. equities research analysts anticipate that Progress Software will post 1.65 earnings per share for the current year.

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

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About Progress Software

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.

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