Progress Software Corporation (PRGS) Releases Earnings Results, Misses Expectations By $-0.01 EPS

Progress Software Corporation (PRGS) announced its most recent quarterly financial results on Wednesday, Sep-28-2016. PRGS reported $0.44 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.45. The company posted revenue of $102.40 million in the period, compared to analysts expectations of $104.72 million. PRGS’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on Progress Software Corporation. Progress Software Corporation was Downgraded by Ladenburg Thalmann to ” Neutral” on Sep 13, 2016.

Progress Software Corporation opened for trading at $27.85 and hit $28.04 on the upside on Tuesday, eventually ending the session at $27.95, with a gain of 0.72% or 0.2 points. The heightened volatility saw the trading volume jump to 2,62,908 shares. Company has a market cap of $1,355 M.

In a different news, on Jul 12, 2016, Paul A Jalbert (Chief Accounting Officer) sold 21,041 shares at $28.92 per share price. According to the SEC, on Jun 14, 2016, Ram Gupta (director) sold 4,764 shares at $26.35 per share price. On May 11, 2016, Barry N Bycoff (director) sold 5,664 shares at $25.27 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

Leave a Reply

Progress Software Corporation - Is it time to Sell?

Top Brokerage Firms are advising their investors on Progress Software Corporation. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.