Progress Software (PRGS) Issues FY18 Earnings Guidance

Net earnings for the quarter were posted at $0.67 per share, whereas Wall Street had forecast $0.61 per share.

Progress Software Corporation is engaged in application development. The stock decreased 0.23% or $0.1 during the last trading session, reaching $43.62. There were 26 sold out positions, on the other hand, totaling 1,067,854 shares. Moreover, Bnp Paribas Arbitrage Sa has 0% invested in Progress Software Corporation (NASDAQ:PRGS). It has underperformed by 1.65% the S&P500.The move comes after 5 months positive chart setup for the $2.43B company.

The top 5 institutional holders, in ascending order, are as follows: BLACKROCK INC. with 6.13 million shares, VANGUARD GROUP INC with 4.41 million shares, PRAESIDIUM INVESTMENT MANAGEMENT COMPANY, LLC with 4.26 million shares, DIMENSIONAL FUND ADVISORS LP with 1.8 million shares, and JPMORGAN CHASE & CO with 1.56 million shares. Amarillo National Bank who had been investing in J.P. Morgan Chase & Co Com for a number of months, seems to be bullish on the $389.06 billion market cap company. The stock increased 0.48% or $0.18 during the last trading session, reaching $37.99. Volume analysis is used by technical analysts as one of many factors that inform their trading decisions.

Progress Software shares have risen nearly 3 percent since the beginning of the year. It has outperformed by 75.15% the S&P500.

Among 3 analysts covering Progress Software Corporation (NASDAQ:PRGS), 1 have Buy rating, 0 Sell and 2 Hold. Charles Schwab had 81 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of eBay Inc. 6,100 are held by Prelude Management Limited Liability Corp. The firm has "Buy" rating by UBS given on Friday, February 3. The company provided EPS guidance of $2.29-2.35 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.91. Ladenburg Thalmann downgraded the shares of PRGS in report on Tuesday, September 13 to "Neutral" rating. As per Thursday, July 7, the company rating was maintained by Peel Hunt.

Investors sentiment decreased to 1.14 in Q3 2017. Its down 0.16, from 0.89 in 2017Q2. It dived, as 41 investors sold SCHW shares while 299 reduced holdings. 72 funds opened positions while 186 raised stakes.

Her Majesty The Queen In Right Of The Province Of Alberta Alberta Investment Management Corp decreased Adobe Sys Inc (NASDAQ:ADBE) stake by 97,200 shares to 92,000 valued at $13.73 million in 2017Q3. Employees Retirement Sys Of Texas stated it has 167,900 shares. Mutual Of America Cap Mngmt Lc owns 2,055 shares or 0% of their USA portfolio. Jupiter Asset Mngmt Ltd holds 0.45% of its portfolio in BorgWarner Inc. Adams Diversified Equity Fund has 27,100 shares for 0.06% of their portfolio. Presently, the 14-day ADX for Progress Software (PRGS) is 28.52. (NASDAQ:EBAY). Cohen Klingenstein Lc stated it has 9,200 shares or 0.05% of all its holdings. Laurion Capital Management Limited Partnership reported 18,351 shares stake. Seizert Partners Ltd Liability has invested 0.03% in Coastway Bancorp, Inc. The Massachusetts-based Acadian Asset Management Llc has invested 0.01% in Progress Software Corporation (NASDAQ:PRGS). Price T Rowe Assocs Md reported 1.79M shares. The institutional investor held 24,381 shares of the major banks company at the end of 2017Q3, valued at $2.33M, up from 20,378 at the end of the previous reported quarter. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.125 per share. Voya Invest Management Ltd Liability Corporation owns 23,173 shares. It improved, as 25 investors sold BWA shares while 176 reduced holdings. (NASDAQ:CWAY) for 29,000 shares. The insider BECHTLE NANCY H sold 23,207 shares worth $998,528. Legal And General Group Public Ltd Company holds 0% in Progress Software Corporation (NASDAQ:PRGS) or 99,242 shares. Therefore 33% are positive. As per Friday, January 15, the company rating was maintained by Benchmark. Finally, Wedbush restated a neutral rating and set a $32.00 price objective on shares of Progress Software in a research note on Monday, September 18th. ValuEngine lowered Progress Software from a "buy" rating to a "hold" rating in a report on Friday, December 1st. On Monday, January 18 the stock rating was maintained by Benchmark with "Buy". The stock has "Neutral" rating by Wedbush on Wednesday, January 18. Benchmark maintained it with "Buy" rating and $31.0 target in Friday, January 15 report. The firm has "Buy" rating by Benchmark given on Tuesday, January 2. The business's quarterly revenue was down 1.4% on a year-over-year basis. IOTS's profit would be $422,779 giving it 82.50 P/E if the $0.02 EPS is correct.

Progress Software expects full-year earnings in the range of $2.29 to $2.35 per share, with revenue ranging from $398 million to $404 million.

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