Progress Software Corp. (NASDAQ: PRGS) is 19.36% higher on its value in year-to-date trading and has touched a low of $48.00 and a high of $67.48 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PRGS stock was last observed hovering at around $65.42 in the last trading session, with the day’s loss setting it -0.61%.
Currently trading at $64.81, the stock is 8.07% and 11.28% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.6 million and changing -0.93% at the moment leaves the stock 19.02% off its SMA200. PRGS registered 25.92% gain for a year compared to 6-month gain of 26.93%. The firm has a 50-day simple moving average (SMA 50) of $58.4156 and a 200-day simple moving average (SMA200) of $54.50325.
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The stock witnessed a 11.40% loss in the last 1 month and extending the period to 3 months gives it a 17.67%, and is -1.56% down 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 2.28% over the week and 2.46% over the month.
Progress Software Corp. (PRGS) has around 2284 employees, a market worth around $2.77B and $715.42M in sales. Current P/E ratio is 34.75 and Fwd P/E is 11.62. Profit margin for the company is 11.55%. Distance from 52-week low is 35.02% and -3.96% from its 52-week high. The company has generated returns on investments over the last 12 months (6.72%).
The EPS is expected to grow by 10.63% this year
437.0 institutions hold shares in Progress Software Corp. (PRGS), with institutional investors hold 114.59% of the company’s shares. The shares outstanding are 43.80M, and float is at 42.09M with Short Float at 11.32%. Institutions hold 112.90% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 7.1 million shares valued at $385.37 million. The investor’s holdings represent 16.4356 of the PRGS Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 5.75 million shares valued at $312.02 million to account for 13.3074 of the shares outstanding. The other top investors are BOSTON TRUST WALDEN CORP which holds 1.97 million shares representing 4.5512 and valued at over $106.71 million, while STATE STREET CORP holds 3.9567 of the shares totaling 1.71 million with a market value of $92.77 million.
Progress Software Corp. (PRGS) Insider Activity
The most recent transaction is an insider sale by Gupta Yogesh K, the company’s Chief Executive Officer. SEC filings show that Gupta Yogesh K sold 8,028 shares of the company’s common stock on Oct 01 ’24 at a price of $67.00 per share for a total of $0.54 million. Following the sale, the insider now owns 0.15 million shares.
Progress Software Corp. disclosed in a document filed with the SEC on Oct 02 ’24 that WANG YUFAN STEPHANIE (Chief Legal Officer) sold a total of 1,428 shares of the company’s common stock. The trade occurred on Oct 02 ’24 and was made at $65.25 per share for $93177.0. Following the transaction, the insider now directly holds 0.0 shares of the PRGS stock.
Still, SEC filings show that on Oct 02 ’24, JEREMY SEGAL (Officer) Proposed Sale 3,581 shares at an average price of $65.15 for $0.23 million. The insider now directly holds shares of Progress Software Corp. (PRGS).
