Progress Software Corporation (PRGS) Releases Earnings Results, Beats Expectations By $0.04 EPS

Progress Software Corporation (PRGS) reported quarterly earnings results on Wednesday, Jun-29-2016. The company said it had a profit of $0.33 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.29. The company posted revenue of $96.10 million in the period, compared to analysts expectations of $94.63 million. The company’s revenue was down -4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Progress Software Corporation. Company shares were Reiterated by Wedbush on Jun 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .

Progress Software Corporation closed down -1.1 points or -4.34% at $24.24 with 3,94,348 shares getting traded on Monday. Post opening the session at $25.12, the shares hit an intraday low of $24.2 and an intraday high of $25.515 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 14, 2016, Ram Gupta (director) sold 4,764 shares at $26.35 per share price. According to the SEC, on May 11, 2016, Barry N Bycoff (director) sold 5,664 shares at $25.27 per share price. On Apr 29, 2016, Michael Mark (director) sold 7,705 shares at $26.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Progress Software Corporation is a global software company that simplifies the development deployment and management of business applications. The Company’s products provide solutions for rapid application development broad data integration and efficient data analysis. The Company has three business units which include OpenEdge Data Connectivity and Integration and Application Development and Deployment. The solutions within the OpenEdge Business Unit include Progress OpenEdge and Progress Corticon. The solutions within the DCI Business Unit include Progress DataDirect Connect Progress DataDirect Cloud and Progress Easyl. The solutions within the AppDev Business Unit include Progress Pacific Progress Rollbase Modulus Telerik Dev Tools Telerik Dev Cloud Telerik Platform Telerik ALM and Telerik Sitefinity.

Progress Software Corporation

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