Progress Software Corp (NASDAQ: PRGS) is -16.93% lower on its value in year-to-date trading and has touched a low of $48.00 and a high of $70.56 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 $57.26 in the last trading session, with the day’s loss setting it -3.14%.
Currently trading at $54.12, the stock is -14.62% and -18.31% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.11 million and changing -5.48% at the moment leaves the stock -7.88% off its SMA200. PRGS registered -8.74% loss for a year compared to 6-month gain of -3.36%. The firm has a 50-day simple moving average (SMA 50) of $66.5146 and a 200-day simple moving average (SMA200) of $58.7356.
The stock witnessed a -17.90% loss in the last 1 month and extending the period to 3 months gives it a -17.22%, and is -14.56% 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 4.20% over the week and 2.30% over the month.
Progress Software Corp (PRGS) has around 2815 employees, a market worth around $2.35B and $753.41M in sales. Current P/E ratio is 34.92 and Fwd P/E is 9.27. Profit margin for the company is 9.08%. Distance from 52-week low is 12.75% and -23.29% from its 52-week high. The company has generated returns on investments over the last 12 months (3.44%).
with sales reaching $235.64M over the same period.The EPS is expected to grow by 2.60% this year, but quarterly earnings will post 27.99% year-over-year. Quarterly sales are estimated to grow 27.59% in year-over-year returns.
467.0 institutions hold shares in Progress Software Corp (PRGS), with institutional investors hold 118.83% of the company’s shares. The shares outstanding are 43.36M, and float is at 42.68M with Short Float at 12.44%. Institutions hold 117.09% 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 Jarrett Loren, the company’s EVP/GM Digital Experience. SEC filings show that Jarrett Loren sold 1,666 shares of the company’s common stock on Nov 04 ’24 at a price of $63.97 per share for a total of $0.11 million. Following the sale, the insider now owns 13524.0 shares.
Progress Software Corp disclosed in a document filed with the SEC on Nov 01 ’24 that Subramanian Sundar (EVP/GM Infrastructure Mgmt) sold a total of 649 shares of the company’s common stock. The trade occurred on Nov 01 ’24 and was made at $64.02 per share for $41549.0. Following the transaction, the insider now directly holds 18469.0 shares of the PRGS stock.
Still, SEC filings show that on Nov 01 ’24, LoCoco Domenic (Chief Accounting Officer) disposed off 6,086 shares at an average price of $64.02 for $0.39 million. The insider now directly holds 5,199 shares of Progress Software Corp (PRGS).
