Progress Software Corporation [NASDAQ: PRGS] loss -9.57% or -4.67 points to close at $44.14 with a heavy trading volume of 1076351 shares. The company report on January 15, 2021 that Progress Reports 2020 Fiscal Fourth Quarter and Year End Results.
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Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, announced results for its fiscal fourth quarter and fiscal year ended November 30, 2020.
It opened the trading session at $47.24, the shares rose to $47.97 and dropped to $43.76, the range by which the price of stock traded the whole day. The daily chart for PRGS points out that the company has recorded 23.38% gains over the past six months. However, it is still -57.14% lower than its most recent low trading price.
If we look at the average trading volume of 261.48K shares, PRGS reached to a volume of 1076351 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Progress Software Corporation [PRGS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRGS shares is $46.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRGS stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Progress Software Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 26, 2020. While these analysts kept the previous recommendation, The Benchmark Company raised their target price from $49 to $57. The new note on the price target was released on January 17, 2020, representing the official price target for Progress Software Corporation stock. Previously, the target price had yet another raise to $53, while Sidoti analysts kept a Buy rating on PRGS stock. On July 26, 2019, analysts increased their price target for PRGS shares from 44 to 52.
The Average True Range (ATR) for Progress Software Corporation is set at 1.49, with the Price to Sales ratio for PRGS stock in the period of the last 12 months amounting to 4.55. The Price to Book ratio for the last quarter was 5.40, with the Price to Cash per share for the same quarter was set at 5.11. Price to Free Cash Flow for PRGS in the course of the last twelve months was 19.15 with Quick ratio for the last quarter at 1.40.
Trading performance analysis for PRGS stock
Progress Software Corporation [PRGS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.70. With this latest performance, PRGS shares gained by 2.44% in over the last four-week period, additionally plugging by 23.38% over the last 6 months – not to mention a drop of -7.15% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRGS stock in for the last two-week period is set at 46.89, with the RSI for the last a single of trading hit 39.97, and the three-weeks RSI is set at 50.97 for Progress Software Corporation [PRGS]. The present Moving Average for the last 50 days of trading for this stock 42.57, while it was recorded at 47.10 for the last single week of trading, and 38.76 for the last 200 days.
Progress Software Corporation [PRGS]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Progress Software Corporation [PRGS] shares currently have an operating margin of +26.52 and a Gross Margin at +81.42. Progress Software Corporation’s Net Margin is presently recorded at +18.03.
Return on Total Capital for PRGS is now 16.90, given the latest momentum, and Return on Invested Capital for the company is 11.80. Return on Equity for this stock inclined to 23.58, with Return on Assets sitting at 8.29. When it comes to the capital structure of this company, Progress Software Corporation [PRGS] has a Total Debt to Total Equity ratio set at 120.37. Additionally, PRGS Total Debt to Total Capital is recorded at 54.62, with Total Debt to Total Assets ending up at 39.98. Long-Term Debt to Equity for the company is recorded at 113.07, with the Long-Term Debt to Total Capital now at 51.31.
Receivables Turnover for the company is 4.59 with a Total Asset Turnover recorded at a value of 0.46.Progress Software Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.40.
Progress Software Corporation [PRGS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Progress Software Corporation posted 0.76/share EPS, while the average EPS was predicted by analysts to be reported at 0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRGS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Progress Software Corporation go to 10.00%.
An analysis of insider ownership at Progress Software Corporation [PRGS]
There are presently around $1,874 million, or 98.40% of PRGS stock, in the hands of institutional investors. The top three institutional holders of PRGS stocks are: BLACKROCK INC. with ownership of 6,916,176, which is approximately 0.353% of the company’s market cap and around 0.60% of the total institutional ownership; VANGUARD GROUP INC, holding 4,683,512 shares of the stock with an approximate value of $206.73 million in PRGS stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $114.4 million in PRGS stock with ownership of nearly 0.84% of the company’s market capitalization.
Positions in Progress Software Corporation stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 115 institutional holders increased their position in Progress Software Corporation [NASDAQ:PRGS] by around 4,311,817 shares. Additionally, 95 investors decreased positions by around 3,795,102 shares, while 36 investors held positions by with 34,347,206 shares. The mentioned changes placed institutional holdings at 42,454,125 shares, according to the latest SEC report filing. PRGS stock had 24 new institutional investments in for a total of 618,089 shares, while 24 institutional investors sold positions of 1,734,081 shares during the same period.