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Things appear to be looking up for Progress Software Corporation (PRGS)

Progress Software Corporation (NASDAQ: PRGS) is -3.25% lower on its value in year-to-date trading and has touched a low of $41.68 and a high of $53.99 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PRGS stock was last observed hovering at around $45.20 in the last trading session, with the day’s gains setting it 1.5% off its average median price target of $57.00 for the next 12 months. It is also 33.29% off the consensus price target high of $70.00 offered by 5 analysts, but current levels are 10.19% higher than the price target low of $52.00 for the same period.

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Currently trading at $46.70, the stock is 1.50% and -0.61% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.31 million and changing 3.32% at the moment leaves the stock -1.29% off its SMA200. PRGS registered 2.46% gain for a year compared to 6-month gain of 2.86%. The firm has a 50-day simple moving average (SMA 50) of $4.01 and a 200-day simple moving average (SMA200) of $11.52.

The stock witnessed a -0.49% loss in the last 1 month and extending the period to 3 months gives it a -5.58%, and is 7.55% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.85% over the week and 3.21% over the month.

Progress Software Corporation (PRGS) has around 2103 employees, a market worth around $1.99B and $581.20M in sales. Current P/E ratio is 21.78 and Fwd P/E is 10.59. Profit margin for the company is 16.40%. Distance from 52-week low is 12.04% and -13.50% from its 52-week high. The company has generated returns on investments over the last 12 months (10.20%).

Progress Software Corporation (PRGS) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Progress Software Corporation (PRGS) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 1.60, where 1 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Progress Software Corporation is expected to release its quarterly report on 09/22/2022.The EPS is expected to shrink by -0.10% this year.

Progress Software Corporation (PRGS) Top Institutional Holders

The shares outstanding are 43.58M, and float is at 42.76M with Short Float at 6.30%.

Progress Software Corporation (PRGS) Insider Activity

A total of 106 insider transactions have happened at Progress Software Corporation (PRGS) in the last six months, with sales accounting for 55 and purchases happening 51 times. The most recent transaction is an insider sale by Gupta Yogesh K,the company’sChief Executive Officer. SEC filings show that Gupta Yogesh K sold 5,000 shares of the company’s common stock on Jun 21 at a price of $47.28 per share for a total of $0.24 million. Following the sale, the insider now owns 80000.0 shares.

Progress Software Corporation disclosed in a document filed with the SEC on May 20 that Gupta Yogesh K (Chief Executive Officer) sold a total of 5,000 shares of the company’s common stock. The trade occurred on May 20 and was made at $46.62 per share for $0.23 million. Following the transaction, the insider now directly holds 85000.0 shares of the PRGS stock.

Still, SEC filings show that on May 16, Jarrett Loren (EVP & GM Developer Tools) disposed off 4,598 shares at an average price of $46.99 for $0.22 million. The insider now directly holds 22,586 shares of Progress Software Corporation (PRGS).

Progress Software Corporation (PRGS): Who are the competitors?

The company’s main competitors (and peers) include Oracle Corporation (ORCL) that is trading -18.13% down over the past 12 months and HP Inc. (HPQ) that is 16.77% higher over the same period. International Business Machines Corporation (IBM) is -3.38% down on the 1-year trading charts.

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