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Progress Software NasdaqGS:PRGS Stock Report

Last Price


Market Cap







17 May, 2022


Company Financials +
PRGS fundamental analysis
Snowflake Score
Future Growth2/6
Past Performance2/6
Financial Health3/6

PRGS Stock Overview

Progress Software Corporation develops, deploys, and manages business applications.

Progress Software Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Progress Software
Historical stock prices
Current Share PriceUS$47.13
52 Week HighUS$53.99
52 Week LowUS$41.68
1 Month Change-0.74%
3 Month Change3.38%
1 Year Change7.95%
3 Year Change8.75%
5 Year Change61.57%
Change since IPO1,337.87%

Recent News & Updates

Apr 16
Progress Software (NASDAQ:PRGS) Has Re-Affirmed Its Dividend Of US$0.17

Progress Software (NASDAQ:PRGS) Has Re-Affirmed Its Dividend Of US$0.17

Progress Software Corporation ( NASDAQ:PRGS ) will pay a dividend of US$0.17 on the 15th of June. This means the annual...

Apr 13

Progress Software: Unconventional, But Powerful

Progress Software, one of the lowest-profile stocks in the software sector, continues to execute against its ambitious targets. The company operates as a portfolio company of sorts, with its principal strategy revolving around buying other software companies. Its latest major acquisition, Kemp, added ~10% to its ARR base, and integration is going according to plan. The company's ~11x forward P/E, plus positive cash flow that helps to provide firepower for M&A, makes it an attractive investment.

Shareholder Returns

PRGSUS SoftwareUS Market

Return vs Industry: PRGS exceeded the US Software industry which returned -10.7% over the past year.

Return vs Market: PRGS exceeded the US Market which returned -10.8% over the past year.

Price Volatility

Is PRGS's price volatile compared to industry and market?
PRGS volatility
PRGS Average Weekly Movement4.6%
Software Industry Average Movement11.5%
Market Average Movement7.8%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market2.9%

Stable Share Price: PRGS is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: PRGS's weekly volatility (5%) has been stable over the past year.

About the Company

19812,103Yogesh Gupta

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities. It also offers DataDirect Connect, which provides data connectivity using industry-standard interfaces to connect applications running on various platforms; MOVEit that offers secure collaboration and automated file transfers of critical business information; Chef, an infrastructure automation platform to build, deploy, manage, and secure applications in multi-cloud and hybrid environments, and on-premises; and WhatsUp Gold, a network monitoring solution.

Progress Software Fundamentals Summary

How do Progress Software's earnings and revenue compare to its market cap?
PRGS fundamental statistics
Market CapUS$2.04b
Earnings (TTM)US$79.91m
Revenue (TTM)US$554.96m


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
PRGS income statement (TTM)
Cost of RevenueUS$66.80m
Gross ProfitUS$488.16m
Other ExpensesUS$408.25m

Last Reported Earnings

Feb 28, 2022

Next Earnings Date


Earnings per share (EPS)1.83
Gross Margin87.96%
Net Profit Margin14.40%
Debt/Equity Ratio168.9%

How did PRGS perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio

Does PRGS pay a reliable dividends?

See PRGS dividend history and benchmarks
When do you need to buy PRGS by to receive an upcoming dividend?
Progress Software dividend dates
Ex Dividend DateMay 31 2022
Dividend Pay DateJun 15 2022
Days until Ex dividend12 days
Days until Dividend pay date27 days

Does PRGS pay a reliable dividends?

See PRGS dividend history and benchmarks


Is Progress Software undervalued compared to its fair value and its price relative to the market?

Valuation Score


Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: PRGS ($47.13) is trading below our estimate of fair value ($84.24)

Significantly Below Fair Value: PRGS is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: PRGS is good value based on its PE Ratio (25.8x) compared to the US Software industry average (41.4x).

PE vs Market: PRGS is poor value based on its PE Ratio (25.8x) compared to the US market (15.5x).

Price to Earnings Growth Ratio

PEG Ratio: PRGS is poor value based on its PEG Ratio (2.8x)

Price to Book Ratio

PB vs Industry: PRGS is overvalued based on its PB Ratio (5.6x) compared to the US Software industry average (3.6x).

Future Growth

How is Progress Software forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score


Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PRGS's forecast earnings growth (9.2% per year) is above the savings rate (1.9%).

Earnings vs Market: PRGS's earnings (9.2% per year) are forecast to grow slower than the US market (12.5% per year).

High Growth Earnings: PRGS's earnings are forecast to grow, but not significantly.

Revenue vs Market: PRGS's revenue (6.4% per year) is forecast to grow slower than the US market (7.9% per year).

High Growth Revenue: PRGS's revenue (6.4% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PRGS's Return on Equity is forecast to be high in 3 years time (27%)

Past Performance

How has Progress Software performed over the past 5 years?

Past Performance Score


Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: PRGS has high quality earnings.

Growing Profit Margin: PRGS's current net profit margins (14.4%) are lower than last year (17.1%).

Past Earnings Growth Analysis

Earnings Trend: PRGS has become profitable over the past 5 years, growing earnings by 39.3% per year.

Accelerating Growth: PRGS's earnings growth over the past year (3%) is below its 5-year average (39.3% per year).

Earnings vs Industry: PRGS earnings growth over the past year (3%) underperformed the Software industry 29.6%.

Return on Equity

High ROE: Whilst PRGS's Return on Equity (21.7%) is high, this metric is skewed due to their high level of debt.

Financial Health

How is Progress Software's financial position?

Financial Health Score


Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: PRGS's short term assets ($342.6M) exceed its short term liabilities ($283.7M).

Long Term Liabilities: PRGS's short term assets ($342.6M) do not cover its long term liabilities ($701.1M).

Debt to Equity History and Analysis

Debt Level: PRGS's net debt to equity ratio (121.8%) is considered high.

Reducing Debt: PRGS's debt to equity ratio has increased from 33.7% to 168.9% over the past 5 years.

Debt Coverage: PRGS's debt is well covered by operating cash flow (28.6%).

Interest Coverage: PRGS's interest payments on its debt are well covered by EBIT (6.4x coverage).

Balance Sheet


What is Progress Software current dividend yield, its reliability and sustainability?

Dividend Score


Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Upcoming Dividend Payment

TodayMay 18 2022Ex Dividend DateMay 31 2022Dividend Pay DateJun 15 202215 days from Ex DividendBuy in the next 12 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: PRGS's dividend (1.49%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.54%).

High Dividend: PRGS's dividend (1.49%) is low compared to the top 25% of dividend payers in the US market (4.06%).

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, PRGS has been paying a dividend for less than 10 years.

Growing Dividend: PRGS's dividend payments have increased, but the company has only paid a dividend for 6 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (38.4%), PRGS's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its low cash payout ratio (17.6%), PRGS's dividend payments are well covered by cash flows.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Yogesh Gupta (60 yo)





Mr. Yogesh K. Gupta has been the Chief Executive Officer of Progress Software Corporation since October 10, 2016 and as its President since October 2016. Prior to that time, Mr. Gupta served as an advisor...

CEO Compensation Analysis

Compensation vs Market: Yogesh's total compensation ($USD6.02M) is about average for companies of similar size in the US market ($USD5.45M).

Compensation vs Earnings: Yogesh's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: PRGS's management team is considered experienced (2.7 years average tenure).

Board Members

Experienced Board: PRGS's board of directors are considered experienced (4.9 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: PRGS insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Progress Software Corporation's employee growth, exchange listings and data sources

Key Information

  • Name: Progress Software Corporation
  • Ticker: PRGS
  • Exchange: NasdaqGS
  • Founded: 1981
  • Industry: Systems Software
  • Sector: Software
  • Implied Market Cap: US$2.039b
  • Shares outstanding: 43.77m
  • Website:

Number of Employees


  • Progress Software Corporation
  • 15 Wayside Road
  • Suite 400
  • Burlington
  • Massachusetts
  • 1803
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/17 00:00
End of Day Share Price2022/05/17 00:00
Annual Earnings2021/11/30

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.