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Last $29.90 USD
Change Today +1.75 / 6.22%
Volume 1.2M
PRGS On Other Exchanges
Symbol
Exchange
NASDAQ GS
Frankfurt
As of 8:10 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

progress software corp (PRGS) Snapshot

Open
$29.95
Previous Close
$28.15
Day High
$30.20
Day Low
$29.21
52 Week High
07/2/15 - $30.20
52 Week Low
09/24/14 - $22.27
Market Cap
1.5B
Average Volume 10 Days
470.1K
EPS TTM
$0.80
Shares Outstanding
50.6M
EX-Date
--
P/E TM
37.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for PROGRESS SOFTWARE CORP (PRGS)

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progress software corp (PRGS) Details

Progress Software Corporation provides software solutions for various industries worldwide. It offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across any platform, mobile device, and cloud; Progress Corticon, a business rules management system that enables applications with decision automation, decision change process, and decision-related insight capabilities; Progress DataDirect Connect software that offers data connectivity using industry-standard interfaces to connect applications running on various platforms; and Progress DataDirect Cloud, a software as a service (SaaS)-based connection management service that simplifies SQL access to a spectrum of cloud-based data sources through a single standards-based interface. The company also provides Progress Pacific, a platform-as-a-service, which enables creation and deployment of data-driven business applications with minimal coding by using point-and-click and drag-and-drop tools in a Web browser; Progress Rollbase, which allows creation of SaaS business applications using point and click, and drag and drop tools in a Web browser; Modulus, a control platform for running Node.js applications; and Telerik Dev Tools, a cross-platform for next generation Web, mobile, desktop, and HTML5 applications. In addition, it offers Telerik Dev Cloud, a cloud-based application for design, deployment, hosting, and testing; Telerik Platform, an end-to-end application lifecycle solution; Telerik ALM, an application lifecycle management suite; and Telerik Sifefinity, a next-generation Web content management and customer analytics platform. Further, the company provides application development, consulting, training, and customer support services. It sells its products directly to end-users, as well as indirectly to application partners, original equipment manufacturers, and system integrators. The company was founded in 1981 and is headquartered in Bedford, Massachusetts.

1,075 Employees
Last Reported Date: 01/29/15
Founded in 1981

progress software corp (PRGS) Top Compensated Officers

Chief Executive Officer, President and Execut...
Total Annual Compensation: $650.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $375.0K
President of Application Development & Deploy...
Total Annual Compensation: $330.0K
Senior Vice President of Global Field Operati...
Total Annual Compensation: $270.6K
Senior Vice President of Strategy and Corpora...
Total Annual Compensation: $315.0K
Compensation as of Fiscal Year 2014.

progress software corp (PRGS) Key Developments

Progress Software Corporation Announces New Release of Web Debugging Proxy, Telerik Fiddler

Progress Software Corporation has announced the new release of Telerik Fiddler, a web debugging proxy for any browser, system or platform. New Support and Licensing options enable enterprises to leverage the power of the Telerik Fiddler proxy and allow developers to enhance their own applications with the core engine that powers the debugger they know and love. With the Telerik FiddlerCore product, organizations can now build applications to capture, modify, replay and save web traffic. With this update, Telerik, a Progress company, is offering additional license types to enable customers to affordably integrate the Telerik FiddlerCore product into their internal business systems as well as their commercially distributed applications.

Progress Software Corporation Appoints Jerry Rulli as Chief Operating Officer

Progress Software Corporation announced that Jerry Rulli, president, OpenEdge Business Unit, has been appointed Chief Operating Officer. As Chief Operating Officer, Rulli will be responsible for the alignment of business unit priorities, go-to-market strategies and ensuring operational excellence across the company. Rulli will continue to report to Phil Pead, President and CEO. Effective immediately, Rulli will assume responsibility for driving the operations of the three Progress business units. Rulli will continue to manage OpenEdge on a day-to-day basis, Michael Benedict, president, will continue to lead Data Connectivity and Integration, and Karen Tegan Padir, president, will continue to lead Application Development and Deployment. Benedict and Padir will now report to Rulli. Rulli joined Progress in August 2014 as President, OpenEdge Business Unit, and in that capacity, has led the company's business through three quarters of solid growth. Rulli has also been instrumental in expanding Progress partner programs and international presence and in leveraging the services capabilities acquired as part of the BravePoint acquisition to provide partners with a path to modernization.

Progress Software Corporation Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended May 31, 2015; Revised Earnings Guidance for the Fiscal Year Ending November 30, 2015; Provides Earnings Guidance for the Third Quarter Ending August 31, 2015

Progress Software Corporation announced consolidated earnings results for the second quarter and six months ended May 31, 2015. Revenue in the quarter was $88.8 million compared to $80.8 million in the same quarter last year, a year over year increase of 10% on an actual currency basis and 19% on a constant currency basis. Loss from operations was $2.7 million compared to income from operations of $20.3 million in the same quarter last year. Loss income before income taxes was $3.760 million against income before income taxes of $20.151 million a year ago. Net income was $5.8 million compared to $12.8 million in the same quarter last year; and diluted earnings per share were $0.11 compared to $0.25 in the same quarter last year. On a non-GAAP basis in the fiscal second quarter of 2015: revenue was $100.9 million compared to $80.8 million in the same quarter last year; income from operations was $27.8 million compared to $28.4 million in the same quarter last year; net income was $18.1 million compared to $19.2 million in the same quarter last year; diluted earnings per share was $0.35 compared to $0.37 in the same quarter last year; and free cash flow was $17.6 million compared to $15.6 million in the same quarter last year. Operating cash flow was approximately $21 million compared to $17 million a year ago. The increase was primarily due to improvements in working capital, driven largely by an increase in deferred revenue as a result of the Telerik acquisition. Adjusted free cash flow was approximately $19 million for the second quarter compared to $16 million in second quarter of 2014. Capital expenditures were $3.147 million against $1.519 million a year ago. The second quarter non-GAAP EPS decreased 5%, primarily as a result of the negative impact of currency translation. For second quarter, the negative impact of currency translation on non-GAAP results compared to second quarter of 2014 exchange rates was year-over-year revenues were negative $7.4 million and year-over-year EPS was a negative $0.06. For the six months, the company reported total revenue of $170.198 million against $155.365 million a year ago. Loss from operations was $13.921 million against income from operations of $34.282 million a year ago. Loss income before income taxes was $14.014 million against income before income taxes of $34.159 million a year ago. Net income was $4.798 million or $0.09 per diluted share against $23.899 million or $0.46 per diluted share a year ago. Net cash flows from operating activities were $57.931 million against $42.540 million a year ago. Capital expenditures were $5.788 million against $8.037 million a year ago. On a non-GAAP basis, the company reported total revenue of $196.305 million against $155.365 million a year ago. Income from operations was $48.231 million against $49.803 million a year ago. Net income was $33.266 million or $0.65 per diluted share against $33.782 million or $0.65 per diluted share a year ago. Year-to-date adjusted free cash flow for 2015 is $55 million. The company revised earnings guidance for the fiscal year ending November 30, 2015: Non-GAAP revenue is expected to be between $415 million and $425 million (unchanged); non-GAAP earnings per share is expected to be between $1.45 and $1.52 compared to previously expected earnings per share of $1.35 and $1.45; non-GAAP operating margin is expected to be approximately 28% compared to previously expected operating margin of approximately 27%; free cash flow is expected to be between $92 million and $95 million compared to previously expected free cash flow of $90 million and $93 million; and non-GAAP effective tax rate is expected to be approximately 33% compared to previously expected tax rate between 33% and 34%. The company expects GAAP revenue in the range of $380.0 million and $390.0 million, GAAP income from operations in the range of $11.8 million and $15.8 million, non-GAAP income from operations in the range of $114.2 million and $118.2 million, GAAP net income in the range of $6.2 million and $8.8 million, non-GAAP net income in the range of $74.9 million and $78.2 million and GAAP diluted earnings per share in the range of $0.12 and $0.17. The company provided earnings guidance for the fiscal third quarter ending August 31, 2015: Non-GAAP revenue is expected to be between $101 million and $104 million; and non-GAAP earnings per share is expected to be between $0.35 and $0.38. The company expects GAAP revenue in the range of $95.0 million and $98.0 million and GAAP diluted earnings per share in the range of $0.07 and $0.04.

 

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Industry Analysis

PRGS

Industry Average

Valuation PRGS Industry Range
Price/Earnings 46.3x
Price/Sales 4.0x
Price/Book 2.6x
Price/Cash Flow 29.1x
TEV/Sales 3.0x
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