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Progress Software Corporation (PRGS), an enterprise software company, provides software solutions to organizations for operational responsiveness. The company's application development platforms include Progress OpenEdge for the development and deployment of business applications, Progress Orbix to address enterprise integration problems, and Progress ObjectStore to store data with a relational database management system or file-based storage system.

It is scheduled to report its Q2 2012 results on June 27, 2012, after the bell.

Technical Overview


Key Metrics

  • Market Cap: 1.22B
  • 52-week trading range: 16.71 - 26.28
  • Trailing P/E: 27.69
  • Forward P/E: 13.94
  • Price/Sales: 2.28
  • Price/Book: 1.83
  • PEG Ratio: 1.77
  • Total Debt: 174.00K
  • Annual dividend yield: N/A
  • Return on Equity: 6.69%
  • Return on Assets: 5.54%

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last four quarters. In the last quarter it reported $0.28 EPS, beating analyst estimates of $0.25.

The consensus EPS is $0.17 based on 3 analysts' estimates, down from $0.38 a year ago. Revenue estimates are $112.37M, down from $134.71M a year ago. The median target price by analysts for the stock is $26.50.

Average recommendation: Overweight

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On March 23, 2012, The Benchmark Company reiterated Buy rating for the company.
  • On January 29, 2012, the company was upgraded from Mkt Perform to Mkt Outperform at JMP Securities.
  • On January 5, 2012, The Benchmark Company reiterated Buy rating for the company.

Latest Developments

  • On June 8, 2012, Progress Software Corp. announced that for the second quarter of 2012, it expects revenue to be $110 million to $115 million and Non-GAAP diluted earnings per share (EPS) is expected to be $0.17 to $0.19 per share.
  • On May 3, 2012, Progress Software Corp. announced that Jyske Bank, one of Denmark's independent banks, has deployed the Progress Apama FX Aggregation Solution Accelerator product to support its foreign exchange trading desk.
  • On February 16, 2012, Progress Software Corp. announced that FFastFill, the provider of application services for the electronic trading and risk management community, has extended its existing partnership agreement with Progress Software to deliver the Progress Apama FX Aggregation Solution Accelerator product to the capital markets industry as a fully-managed, cloud-based service.
  • On January 24, 2012, Dow Jones reported that Tie Holding NVannounced that the Company has expanded its partnership with Progress Software Corp. to resell Tie Holding NV's e-commerce platform.
  • On January 3, 2012, Progress Software Corp. announced that for the first quarter of 2012 it expects revenue to be approximately $120 million and diluted earnings per share are expected to be approximately $0.25.

Competitors

Progress Software Corp. operates in Application Software industry. The company could be compared to Compuware Corporation (CPWR), Informatica Corporation (INFA), Oracle Corporation (ORCL), and TIBCO Software Inc. (TIBX). Below is the table comparison of the most important ratios between these companies and the industry.

Below is the chart comparison with the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

(click to enlarge)PRGS Chart

PRGS data by YCharts

Competitors' Latest Development

  • On June 5, 2012, Oracle Corporation announced that it has entered into an agreement to acquire Collective Intellect. Collective Intellect's cloud-based social intelligence solutions enable organizations to monitor, understand and respond to consumers' conversations on social media platforms such as Facebook and Twitter.
  • On June 4, 2012, Reuters reported according to a lawyer for Hewlett Packard Co said in court that Oracle Corp violated a clear contract with Hewlett Packard Co when it decided it would no longer make new versions of its database software compatible with HP's Itanium-based servers.
  • On May 23, 2012, Oracle Corporation announced that it has entered into an agreement to acquire Vitrue, a cloud-based social marketing and engagement platform that enables marketers to centrally create, publish, moderate, manage, measure and report on their social marketing campaigns and activities on social media platforms such as Facebook, Twitter, YouTube and Google+.
  • On May 23, 2012, Reuters reported that Google Inc.'s Android mobile platform has not infringed Oracle Corporation's patents, a California jury decided, putting an indefinite hold on Oracle's quest for damages in a legal fight between the two companies over Smartphone technology.
  • On May 22, 2012, Compuware Corporation announced that for fiscal 2013, it expects revenue to be in the range of $1.07 billion to $1.08 billion and earnings per share in the range of $0.45 to $0.49.
  • On May 8, 2012, Reuters reported that Google Inc. infringed some of Oracle Corp's copyrights on the Java programming language, a U.S. jury found on Monday after days of deliberation.
  • On May 3, 2012, Reuters reported that an Oracle Corporation attorney ruled out a settlement with Hewlett-Packard Co (HP) in a bitter lawsuit over the Itanium microprocessor, a day after the judge refused to resolve the case for either side before trial.
  • On May 1, 2012, TIBCO Software, Inc. announced that PT XL AxiataTbk (XL), Indonesia's mobile carrier, has chosen TIBCO software to power its new mobile payment solution, expanding its revenue opportunities and bridging economic barriers for the country's unbanked population.
  • On April 30, 2012, Charming Shoppes announced that it has selected Oracle Retail Merchandising and Stores to establish a cross-channel platform serving its brands. Charming Shoppes will use Oracle Retail applications to deploy a modern technology platform that helps transform its merchandising, supply chain and store operations to reduce the total cost of ownership of hardware, software and support while enabling a better shopping experience for customers across channels and brands.
  • On April 25, 2012, Oracle Corporation announced that GREE, Inc uses Oracle's Sun ZFS Storage 7420 appliance and Sun Fire X4170 M2 server with Oracle Solaris 11 to support their social network data analysis
  • On April 24, 2012, Oracle Corporation announced that the First Bank of Nigeria (FirstBank), has successfully deployed Oracle Financial Services Know Your Customer and Oracle Financial Services Regulatory Reporting Solution.
  • On April 23, 2012, Carolina Biological Supply Company announced that it has selected Oracle Corporation's Oracle ATG Web Commerce to help improve its customers' online experience and increase sales.
  • On April 12, 2012, TIBCO Software, Inc announced that it has completed the acquisition of LogLogic, Inc., a privately held company based in San Jose, California, provides scalable log and security management platforms specifically designed for the enterprise and cloud.
  • On April 4, 2012, TIBCO Software, Inc. announced that it has entered into a definitive agreement to acquire LogLogic Inc., a privately held company based in San Jose, California that offers one of the industry's scalable log and security management platforms specifically designed for the enterprise and cloud.
  • On March 29, 2012, TIBCO Software, Inc. announced that its Board of Directors has authorized a new share repurchase program pursuant to which the company may repurchase up to $300 million of its outstanding common stock.
  • On March 29, 2012, TIBCO Software, Inc. announced that for second quarter of 2012, it expects total revenue to be $240-$244 million, GAAP earnings per share to be $0.13-$0.15 and non-GAAP earnings per share to be $0.22-$0.23.
  • On March 5, 2012, MapR Technologies, Inc. and Informatica Corporation announced joint support for MapR's distribution for Hadoop with the Informatica Platform. In addition, Informatica HParser Community Edition which is available for free, will be available for download as part of the MapR distribution from the MapR website.
  • On February 28, 2012, Compuware Corporation announced that Grupo PC Sistemas has selected Compuware Changepoint professional services automation solution to manage the Company's growing services arm.
  • On February 21, 2012, Covisint, a Compuware Corporation announced that Trenton Health Team (THT) has selected Covisint as its Health Information Exchange. Covisint will enable THT to provide integrated care coordination for its vulnerable residents, as well as help THT improve and track health quality outcomes.
  • On January 17, 2012, Compuware Corporation announced that for fiscal 2012, due to APM's slower-than-expected start and the flattening of the Mainframe Solutions business in the second half, it now expect EPS of $.40-$0.42 per share on roughly 8%-10% revenue growth.
  • On January 10, 2012, Compuware Corporation announced that Savvis, a CenturyLink company and a cloud infrastructure and hosted IT solutions for enterprises, has expanded its application performance management (APM) partnership with Compuware.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Progress Software Corporation