Progress Software (NASDAQ:PRGS) released its earnings results on Thursday. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.36, MarketWatch Earnings reports. The company had revenue of $152.60 million for the quarter, compared to the consensus estimate of $131.07 million. Progress Software had a net margin of 15.58% and a return on equity of 37.43%. Progress Software’s revenue was up 37.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 EPS.
NASDAQ PRGS traded up $1.00 on Thursday, hitting $46.21. 375,320 shares of the company’s stock traded hands, compared to its average volume of 355,425. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.48. Progress Software has a 1-year low of $34.50 and a 1-year high of $49.23. The firm’s 50-day moving average price is $45.62 and its two-hundred day moving average price is $45.28. The firm has a market capitalization of $2.02 billion, a PE ratio of 28.18, a P/E/G ratio of 7.74 and a beta of 1.25.
A hedge fund recently raised its stake in Progress Software stock. Morgan Stanley lifted its position in Progress Software Co. (NASDAQ:PRGS) by 83.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 215,564 shares of the software maker’s stock after purchasing an additional 98,118 shares during the period. Morgan Stanley owned about 0.49% of Progress Software worth $9,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
About Progress Software
Progress Software Corp. engages in the provision of a platform, which develops and deploys mission-critical business applications. It operates through the following segments: OpenEdge, Data Connectivity and Integration and Application Development and Deployment. The OpenEdge segment provides product enhancements and marketing supports for the partners to sell more of its existing solutions to their customers.
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