Progress Software (PRGS)
Market Price (5/7/2026): $28.21 | Market Cap: $1.2 BilSector: Information Technology | Industry: Systems Software
Progress Software (PRGS)
Market Price (5/7/2026): $28.21Market Cap: $1.2 BilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.0%, FCF Yield is 22% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -36% Low stock price volatilityVol 12M is 46% Megatrend and thematic driversMegatrends include Cybersecurity, Cloud Computing, and Automation & Robotics. Themes include Software Security, Show more. | Weak multi-year price returns2Y Excs Rtn is -90%, 3Y Excs Rtn is -124% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 106% Key risksPRGS key risks include [1] significant legal and financial exposure from major cybersecurity vulnerabilities in its MOVEit product, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.0%, FCF Yield is 22% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 26% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -36% |
| Low stock price volatilityVol 12M is 46% |
| Megatrend and thematic driversMegatrends include Cybersecurity, Cloud Computing, and Automation & Robotics. Themes include Software Security, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -90%, 3Y Excs Rtn is -124% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 106% |
| Key risksPRGS key risks include [1] significant legal and financial exposure from major cybersecurity vulnerabilities in its MOVEit product, Show more. |
Qualitative Assessment
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1. Significant Analyst Price Target Reductions. Several investment firms sharply lowered their price targets for Progress Software within the specified period, reflecting a diminished outlook for the stock. For instance, DA Davidson cut its price target from $70.00 to $50.00 on March 25, 2026. Similarly, Jefferies reduced its target from $45.00 to $34.00, and Citigroup lowered its target from $60.00 to $46.00 in late March and early April 2026, respectively. These substantial reductions by multiple analysts indicate a shift in sentiment and a re-evaluation of the company's future valuation, contributing to downward pressure on the stock.
2. Broader Software Sector Headwinds and Reassessment. Progress Software's stock movement has been influenced by a broader market reassessment of the software sector. As of March 25, 2026, Progress Software shares had fallen approximately 29% year-to-date, underperforming the IGV index, which declined by 21% over the same period. This suggests that macroeconomic factors or evolving investor sentiment, possibly driven by concerns about AI disruption within the software industry, have contributed to a general downturn in the sector, impacting PRGS.
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Stock Movement Drivers
Fundamental Drivers
The -31.1% change in PRGS stock from 1/31/2026 to 5/6/2026 was primarily driven by a -41.5% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 40.92 | 28.18 | -31.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 978 | 988 | 1.0% |
| Net Income Margin (%) | 7.5% | 8.6% | 15.1% |
| P/E Multiple | 23.9 | 14.0 | -41.5% |
| Shares Outstanding (Mil) | 43 | 42 | 1.3% |
| Cumulative Contribution | -31.1% |
Market Drivers
1/31/2026 to 5/6/2026| Return | Correlation | |
|---|---|---|
| PRGS | -31.1% | |
| Market (SPY) | 3.6% | 12.9% |
| Sector (XLK) | 18.3% | 8.5% |
Fundamental Drivers
The -33.9% change in PRGS stock from 10/31/2025 to 5/6/2026 was primarily driven by a -63.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 42.64 | 28.18 | -33.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 940 | 988 | 5.1% |
| Net Income Margin (%) | 5.2% | 8.6% | 66.7% |
| P/E Multiple | 37.8 | 14.0 | -63.0% |
| Shares Outstanding (Mil) | 43 | 42 | 2.0% |
| Cumulative Contribution | -33.9% |
Market Drivers
10/31/2025 to 5/6/2026| Return | Correlation | |
|---|---|---|
| PRGS | -33.9% | |
| Market (SPY) | 5.5% | 19.2% |
| Sector (XLK) | 13.4% | 12.7% |
Fundamental Drivers
The -53.0% change in PRGS stock from 4/30/2025 to 5/6/2026 was primarily driven by a -69.4% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 59.96 | 28.18 | -53.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 807 | 988 | 22.4% |
| Net Income Margin (%) | 7.0% | 8.6% | 22.4% |
| P/E Multiple | 45.7 | 14.0 | -69.4% |
| Shares Outstanding (Mil) | 43 | 42 | 2.6% |
| Cumulative Contribution | -53.0% |
Market Drivers
4/30/2025 to 5/6/2026| Return | Correlation | |
|---|---|---|
| PRGS | -53.0% | |
| Market (SPY) | 30.4% | 27.1% |
| Sector (XLK) | 62.9% | 20.6% |
Fundamental Drivers
The -47.7% change in PRGS stock from 4/30/2023 to 5/6/2026 was primarily driven by a -45.6% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5062026 | Change |
|---|---|---|---|
| Stock Price ($) | 53.86 | 28.18 | -47.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 621 | 988 | 59.0% |
| Net Income Margin (%) | 15.8% | 8.6% | -45.6% |
| P/E Multiple | 23.7 | 14.0 | -41.1% |
| Shares Outstanding (Mil) | 43 | 42 | 2.7% |
| Cumulative Contribution | -47.7% |
Market Drivers
4/30/2023 to 5/6/2026| Return | Correlation | |
|---|---|---|
| PRGS | -47.7% | |
| Market (SPY) | 78.7% | 30.3% |
| Sector (XLK) | 130.2% | 25.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PRGS Return | 8% | 6% | 9% | 21% | -34% | -32% | -32% |
| Peers Return | 26% | -16% | 53% | 12% | 9% | -20% | 58% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 6% | 93% |
Monthly Win Rates [3] | |||||||
| PRGS Win Rate | 58% | 58% | 67% | 50% | 33% | 60% | |
| Peers Win Rate | 65% | 33% | 68% | 52% | 40% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| PRGS Max Drawdown | -11% | -13% | -1% | -11% | -39% | -42% | |
| Peers Max Drawdown | -11% | -29% | -7% | -15% | -18% | -32% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IBM, MSFT, ORCL, ADBE, QLYS. See PRGS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/6/2026 (YTD)
How Low Can It Go
| Event | PRGS | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -14.8% | -9.5% |
| % Gain to Breakeven | 17.4% | 10.5% |
| Time to Breakeven | 81 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -13.2% | -24.5% |
| % Gain to Breakeven | 15.2% | 32.4% |
| Time to Breakeven | 25 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -33.0% | -33.7% |
| % Gain to Breakeven | 49.3% | 50.9% |
| Time to Breakeven | 274 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -11.7% | -19.2% |
| % Gain to Breakeven | 13.2% | 23.7% |
| Time to Breakeven | 31 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -24.7% | -12.2% |
| % Gain to Breakeven | 32.8% | 13.9% |
| Time to Breakeven | 154 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -33.7% | -17.9% |
| % Gain to Breakeven | 50.8% | 21.8% |
| Time to Breakeven | 661 days | 123 days |
In The Past
Progress Software's stock fell -9.3% during the 2025 US Tariff Shock. Such a loss loss requires a 10.3% gain to breakeven.
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| Event | PRGS | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -33.0% | -33.7% |
| % Gain to Breakeven | 49.3% | 50.9% |
| Time to Breakeven | 274 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -24.7% | -12.2% |
| % Gain to Breakeven | 32.8% | 13.9% |
| Time to Breakeven | 154 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -33.7% | -17.9% |
| % Gain to Breakeven | 50.8% | 21.8% |
| Time to Breakeven | 661 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -56.5% | -53.4% |
| % Gain to Breakeven | 130.0% | 114.4% |
| Time to Breakeven | 430 days | 1085 days |
In The Past
Progress Software's stock fell -9.3% during the 2025 US Tariff Shock. Such a loss loss requires a 10.3% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Progress Software (PRGS)
AI Analysis | Feedback
Here are a few analogies for Progress Software (PRGS):
- A specialized Oracle for enterprise application development and data connectivity. (Refers to OpenEdge, developer tools, and DataDirect)
- A Red Hat for IT automation and network operations software. (Refers to Chef, WhatsUp Gold, and Kemp products)
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```html- OpenEdge: A development software for building multi-language applications for secure deployment across various platforms and the cloud.
- Developer Tools: Components for user interface development for various app types (Web, mobile, desktop, chat, AR/VR), along with 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, change processes, and decision-related insights.
- DataDirect Connect: Provides data connectivity using industry-standard interfaces to connect applications running on various platforms.
- MOVEit: Offers secure collaboration and automated file transfers of critical business information.
- Chef: An infrastructure automation platform used to build, deploy, manage, and secure applications in multi-cloud, hybrid, and on-premises environments.
- WhatsUp Gold: A network monitoring solution.
- Kemp LoadMaster: Provides load balancing solutions.
- Kemp Flowmon: Offers network performance monitoring and diagnostic solutions that collect and analyze network telemetry.
- Professional Services: Includes project management, implementation, custom development, and programming services, particularly for web-enablement of applications.
- Training Services: Provides educational services related to their products and technologies.
AI Analysis | Feedback
Progress Software (PRGS) primarily sells its products and services to other companies rather than individuals. The company's customer base consists of various types of organizations that utilize its software for development, operations, and business management.
The background information provided does not list specific names of customer companies. However, it identifies the following categories of organizations that Progress Software serves:
- Independent Software Vendors (ISVs)
- Original Equipment Manufacturers (OEMs)
- System Integrators (SIs)
- End Users (referring to businesses and organizations utilizing Progress's enterprise-grade solutions for their operations)
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Yogesh Gupta, Chief Executive Officer
Yogesh Gupta has served as President and Chief Executive Officer of Progress Software since October 2016. He is a seasoned leader with extensive experience in M&A-driven growth. Prior to joining Progress, he was the President and CEO of Kaseya, Inc., a private equity-backed software company. Before Kaseya, he served as President and CEO of FatWire Software, a venture capital-backed marketing automation software company, which he led to a successful acquisition by Oracle after doubling its revenue over four years. He also held several corporate officer roles at CA Technologies, including Chief Technology Officer and Chief Strategy Officer, where he oversaw 18 acquisitions in 30 months. Gupta has experience leading VC-backed, private equity-backed, and public companies.
Anthony Folger, Chief Financial Officer
Anthony Folger joined Progress as Chief Financial Officer on January 31, 2020. Prior to Progress, he served as the Chief Financial Officer and Treasurer of Carbonite, Inc. from January 2013 until its acquisition by OpenText Corporation in December 2019. His professional journey also includes senior finance positions at Acronis, Starent Networks, and PricewaterhouseCoopers.
John Ainsworth, Executive Vice President, General Manager, Application and Data Platform
John Ainsworth leads the Application and Data Platform business at Progress. Before joining Progress, he held positions of increasing seniority at CA Technologies, including Senior Vice President of Engineering Services and Senior Vice President for various large product lines.
Ian Pitt, Chief Information Officer
Ian Pitt is the Chief Information Officer at Progress, overseeing the company's information technology strategy and infrastructure. He has a career of over three decades in the industry, including significant roles at companies such as LogMeIn, Thunderhead, and TCS Financial Solutions.
Loren Jarrett, Executive Vice President, General Manager, Digital Experience
Loren Jarrett serves as the Executive Vice President and General Manager for the Digital Experience business at Progress.
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1. Cybersecurity Vulnerabilities and Litigation
Progress Software faces significant and ongoing risks related to cybersecurity vulnerabilities in its products, particularly the MOVEit Transfer and Telerik platforms. Critical vulnerabilities in these widely used products have led to major global cyberattacks by criminal organizations, impacting numerous US federal government agencies and thousands of other organizations and individuals. As a result, Progress Software is currently involved in extensive multidistrict litigation, government inquiries, and class-action lawsuits. The total financial liability stemming from these incidents, including potential settlements and legal costs, cannot yet be reasonably estimated, creating an open-ended risk that could significantly impact the company's future cash flows and margins.
2. High Leverage and Acquisition-Dependent Growth
Progress Software's financial health is characterized by a high level of leverage, posing a key risk to the business. The company's growth strategy heavily relies on acquisitions, which have substantially increased its debt burden. For instance, the acquisition of ShareFile contributed significantly to revenue growth, but also heightened leverage and raised integration risks. With a high debt-to-equity ratio and concerns about liquidity, the company's financial strength is rated as poor. Furthermore, Progress Software's organic growth rate has been noted as weak, meaning sustained revenue growth is highly dependent on successful future acquisitions and their integration, coupled with managing the associated debt.
3. Intense Competition and Rapid Technological Change
The enterprise software industry in which Progress Software operates is highly competitive and marked by rapid technological advancements. The company faces substantial competition from a broad range of vendors, including large industry players like AWS, Microsoft Azure, Sitecore, Adobe, Salesforce, and Oracle, as well as numerous innovative startups. This competitive environment necessitates continuous innovation and product differentiation to maintain market position. The risk exists that larger competitors, with their extensive resources and bundled service offerings, could erode Progress Software's niche product advantages if the company does not effectively adapt to evolving technological demands, such as cloud-native development and low-code platforms.
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The increasing adoption and expansion of comprehensive cloud-native platforms and services offered by major hyperscalers (e.g., AWS, Microsoft Azure, Google Cloud) pose a clear emerging threat. These platforms provide integrated solutions for application development, developer tools, web content management, data connectivity, infrastructure automation, network monitoring, and load balancing, often as managed services. This trend challenges Progress Software's business model, which relies on selling specialized, discrete software products across many of these categories. Enterprises increasingly consolidate their IT infrastructure and development within these cloud ecosystems, potentially reducing the need for standalone vendor solutions that compete directly with the hyperscalers' native offerings.
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Progress Software (symbol: PRGS) operates in several addressable markets for its main products and services. The market sizes for these offerings are outlined below, with regions clarified where specified:
- OpenEdge (Development Software): The global application development software market size was estimated at USD 257.94 billion in 2024.
- Developer Tools (Automated Application Testing): The global automation testing market size was estimated at USD 35.52 billion in 2024.
- Sitefinity (Web Content Management): The global web content management market was valued at USD 12.4 billion in 2024.
- Sitefinity (Customer Analytics): The global customer analytics market size was estimated at USD 16,975.7 million (USD 16.98 billion) in 2024.
- Corticon (Business Rules Management System): The global business rules management system market size was valued at USD 1.59 billion in 2024.
- DataDirect Connect (Data Connectivity): The global fixed data connectivity market size was USD 100251.2 million (USD 100.25 billion) in 2024.
- MOVEit (Managed File Transfer): The global managed file transfer market was valued at USD 2.1 billion in 2024.
- Chef (Infrastructure Automation Platform): Null
- WhatsUp Gold (Network Monitoring): The global network monitoring market is valued at USD 2.5 billion as of 2024.
- Kemp LoadMaster (Load Balancing Solutions): The global load balancer market size reached USD 6.1 billion in 2024.
- Kemp Flowmon (Network Performance Monitoring and Diagnostic Solutions): The global network performance monitoring and diagnostics (NPMD) market was valued at approximately USD 3.6 billion in 2024.
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Expected Drivers of Future Revenue Growth for Progress Software (PRGS)
Over the next 2-3 years, Progress Software (PRGS) is anticipated to drive revenue growth through several key initiatives and market trends:
- Expansion of AI Capabilities and Demand: Progress Software is actively integrating and launching new AI capabilities across its product portfolio, including the acquisition and integration of Nuclia's agentic RAG technology. This focus on AI-driven projects is meeting strong market demand, enhancing customer retention, and attracting new customers for its application development, data connectivity, and DevOps tools.
- Strategic Acquisitions and Integration: The successful acquisition and ahead-of-schedule integration of ShareFile have been significant contributors to Progress Software's revenue and Annualized Recurring Revenue (ARR) growth. This acquisition has bolstered the company's competitive position, particularly in the application development and digital experience sectors, and is expected to continue enhancing its portfolio and market footprint.
- Sustained Annualized Recurring Revenue (ARR) Growth and Customer Loyalty: Progress Software consistently reports a net retention rate of 100% or higher, indicating strong customer loyalty and the ability to expand within its existing client base. This predictable recurring revenue, combined with a focus on delivering high-impact business applications, positions the company for continued growth through upselling and cross-selling across its diverse product offerings.
- Diversified Product Portfolio Performance: The company's broad and evolving product portfolio, which includes solutions like OpenEdge, DevTools, Sitefinity, Corticon, DataDirect Connect, MOVEit, Chef, and WhatsUp Gold, is expected to continue to drive performance. Progress Software's strategy involves ongoing product innovation and strategic acquisitions to meet evolving customer needs and expand its market reach across various platforms and devices.
- Bolstered Position in Application Development and Digital Experience: Progress Software's strategic emphasis on enabling organizations to develop, deploy, and manage AI-powered applications and personalized digital experiences with agility and ease is a crucial growth driver. This strategic direction strengthens its competitive standing in these key sectors and aligns with the increasing demand for robust and secure business applications.
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Share Repurchases
- Progress Software repurchased $105 million in stock for the full fiscal year 2025, including $40 million in Q4 2025.
- On September 23, 2025, the Board of Directors increased the share repurchase authorization by $200.0 million, resulting in a total authorization of $242.2 million.
Share Issuance
- For fiscal year 2025, the annual value of shares issued was $19.0 million.
- Quarterly shares issued over the past five years (2021-2025) fluctuated, with a high of $10.3 million in Q4 2024 and a low of $2.6 million in Q3 2022.
Outbound Investments
- Progress Software's growth strategy has heavily relied on acquisitions, with approximately $2.8 billion spent on net acquisitions between 2016 and 2025.
- Significant acquisitions in recent years include ShareFile for $875 million in September 2024, MarkLogic for $355 million in January 2023, and Kemp Technologies for $258 million in September 2021.
- The company further expanded its portfolio by acquiring Nuclia in July 2025.
Capital Expenditures
- Capital expenditures were approximately $2.862 million for fiscal year 2025 and $2.878 million for fiscal year 2024.
- Over the decade from 2016 to 2025, the company's net capital expenditures amounted to about $20 million, indicating a low capital intensity.
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Trade Ideas
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| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 04302026 | PLTR | Palantir Technologies | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | 0.0% |
| 04102026 | ADSK | Autodesk | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.5% | 8.5% | 0.0% |
| 04102026 | BSY | Bentley Systems | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 4.2% | 4.2% | 0.0% |
| 04102026 | ENPH | Enphase Energy | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 5.7% | 5.7% | 0.0% |
| 04102026 | BL | BlackLine | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 3.2% | 3.2% | -3.0% |
| 03272026 | PRGS | Progress Software | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 0.7% | 0.7% | -9.3% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 209.88 |
| Mkt Cap | 157.2 |
| Rev LTM | 44,265 |
| Op Inc LTM | 10,954 |
| FCF LTM | 5,304 |
| FCF 3Y Avg | 4,466 |
| CFO LTM | 12,250 |
| CFO 3Y Avg | 11,436 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.9% |
| Rev Chg 3Y Avg | 10.7% |
| Rev Chg Q | 10.9% |
| QoQ Delta Rev Chg LTM | 2.6% |
| Op Inc Chg LTM | 17.8% |
| Op Inc Chg 3Y Avg | 14.7% |
| Op Mgn LTM | 33.0% |
| Op Mgn 3Y Avg | 31.5% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 39.8% |
| CFO/Rev 3Y Avg | 38.0% |
| FCF/Rev LTM | 24.5% |
| FCF/Rev 3Y Avg | 26.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 157.2 |
| P/S | 4.5 |
| P/Op Inc | 15.2 |
| P/EBIT | 15.5 |
| P/E | 17.9 |
| P/CFO | 13.1 |
| Total Yield | 6.6% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 6.1% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.5% |
| 3M Rtn | -16.0% |
| 6M Rtn | -25.5% |
| 12M Rtn | -17.8% |
| 3Y Rtn | 7.2% |
| 1M Excs Rtn | -7.7% |
| 3M Excs Rtn | -23.0% |
| 6M Excs Rtn | -33.0% |
| 12M Excs Rtn | -48.5% |
| 3Y Excs Rtn | -66.6% |
Price Behavior
| Market Price | $28.18 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 08/05/1991 | |
| Distance from 52W High | -56.4% | |
| 50 Days | 200 Days | |
| DMA Price | $31.46 | $40.36 |
| DMA Trend | down | down |
| Distance from DMA | -10.4% | -30.2% |
| 3M | 1YR | |
| Volatility | 67.9% | 46.0% |
| Downside Capture | 1.40 | 1.13 |
| Upside Capture | 40.89 | 60.37 |
| Correlation (SPY) | 11.7% | 26.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.47 | 0.06 | 0.57 | 0.80 | 0.99 | 0.70 |
| Up Beta | -2.74 | -1.66 | -1.07 | -0.41 | 0.34 | 0.52 |
| Down Beta | 6.75 | -1.37 | 0.09 | 0.51 | 0.70 | 0.51 |
| Up Capture | 92% | -24% | 38% | 66% | 56% | 35% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 13 | 18 | 32 | 62 | 127 | 369 |
| Down Capture | 1117% | 244% | 211% | 168% | 164% | 104% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 9 | 25 | 32 | 62 | 123 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PRGS | |
|---|---|---|---|---|
| PRGS | -51.6% | 45.9% | -1.45 | - |
| Sector ETF (XLK) | 59.0% | 20.6% | 2.14 | 20.0% |
| Equity (SPY) | 28.5% | 12.5% | 1.78 | 26.3% |
| Gold (GLD) | 40.6% | 27.2% | 1.23 | -8.1% |
| Commodities (DBC) | 50.9% | 18.0% | 2.20 | -5.7% |
| Real Estate (VNQ) | 12.8% | 13.5% | 0.65 | 20.5% |
| Bitcoin (BTCUSD) | -14.2% | 42.1% | -0.25 | 12.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PRGS | |
|---|---|---|---|---|
| PRGS | -7.2% | 32.6% | -0.17 | - |
| Sector ETF (XLK) | 20.1% | 24.8% | 0.72 | 39.0% |
| Equity (SPY) | 12.7% | 17.1% | 0.58 | 43.4% |
| Gold (GLD) | 21.0% | 17.9% | 0.96 | -1.1% |
| Commodities (DBC) | 13.9% | 19.1% | 0.60 | 6.0% |
| Real Estate (VNQ) | 3.5% | 18.8% | 0.09 | 33.5% |
| Bitcoin (BTCUSD) | 8.7% | 56.1% | 0.37 | 17.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PRGS | |
|---|---|---|---|---|
| PRGS | 2.5% | 32.7% | 0.15 | - |
| Sector ETF (XLK) | 24.3% | 24.4% | 0.90 | 44.8% |
| Equity (SPY) | 14.9% | 17.9% | 0.71 | 48.3% |
| Gold (GLD) | 13.7% | 16.0% | 0.71 | -2.1% |
| Commodities (DBC) | 9.5% | 17.7% | 0.45 | 15.2% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 34.7% |
| Bitcoin (BTCUSD) | 68.4% | 66.9% | 1.07 | 11.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/20/2026 | 10.6% | 7.9% | -5.6% |
| 9/29/2025 | 3.1% | 9.5% | 7.5% |
| 6/30/2025 | -13.0% | -19.3% | -24.7% |
| 1/21/2025 | -9.9% | -11.9% | -11.0% |
| 9/9/2024 | -2.5% | 0.6% | 14.2% |
| 6/25/2024 | 12.8% | 12.6% | 17.9% |
| 3/26/2024 | -0.0% | -2.0% | -3.7% |
| 1/16/2024 | 5.5% | 11.4% | 3.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 11 | 13 |
| # Negative | 12 | 12 | 10 |
| Median Positive | 5.5% | 7.8% | 9.6% |
| Median Negative | -5.0% | -6.5% | -6.9% |
| Max Positive | 14.9% | 12.6% | 18.4% |
| Max Negative | -13.0% | -19.3% | -24.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 02/28/2026 | 03/31/2026 | 10-Q |
| 11/30/2025 | 01/20/2026 | 10-K |
| 08/31/2025 | 09/29/2025 | 10-Q |
| 05/31/2025 | 06/30/2025 | 10-Q |
| 02/28/2025 | 03/31/2025 | 10-Q |
| 11/30/2024 | 01/21/2025 | 10-K |
| 08/31/2024 | 10/08/2024 | 10-Q |
| 05/31/2024 | 07/08/2024 | 10-Q |
| 02/29/2024 | 04/08/2024 | 10-Q |
| 11/30/2023 | 01/26/2024 | 10-K |
| 08/31/2023 | 10/10/2023 | 10-Q |
| 05/31/2023 | 07/07/2023 | 10-Q |
| 02/28/2023 | 04/07/2023 | 10-Q |
| 11/30/2022 | 01/27/2023 | 10-K |
| 08/31/2022 | 10/06/2022 | 10-Q |
| 05/31/2022 | 07/07/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q1 2026 Earnings Reported 3/30/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | 240.00 Mil | 243.00 Mil | 246.00 Mil | ||||
| Q2 2026 Diluted earnings per share | 0.35 | 0.38 | 0.41 | ||||
| 2026 Revenue | 988.00 Mil | 994.00 Mil | 1.00 Bil | 0.1% | Raised | Guidance: 993.00 Mil for 2026 | |
| 2026 Diluted earnings per share | 1.71 | 1.79 | 1.87 | -1.9% | Lowered | Guidance: 1.82 for 2026 | |
| 2026 Operating margin | 16.0% | 16.5% | 17.0% | 0 | 0 | Affirmed | Guidance: 16.5% for 2026 |
Prior: Q4 2025 Earnings Reported 1/20/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 244.00 Mil | 247.00 Mil | 250.00 Mil | -2.4% | Lowered | Actual: 253.00 Mil for Q4 2025 | |
| Q1 2026 Diluted earnings per share | 0.47 | 0.5 | 0.53 | 47.1% | Higher New | Actual: 0.34 for Q4 2025 | |
| 2026 Revenue | 986.00 Mil | 993.00 Mil | 1.00 Bil | 1.5% | Higher New | Actual: 978.00 Mil for 2025 | |
| 2026 Diluted earnings per share | 1.74 | 1.82 | 1.91 | 29.0% | Higher New | Actual: 1.42 for 2025 | |
| 2026 Operating margin | 16.0% | 16.5% | 17.0% | 10.0% | 1.5% | Higher New | Actual: 15.0% for 2025 |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Subramanian, Sundar | EVP/GM Infrastructure Mgmt | Direct | Sell | 3122026 | 38.28 | 1,600 | 61,248 | 594,948 | Form |
| 2 | Subramanian, Sundar | EVP/GM Infrastructure Mgmt | Direct | Sell | 3122026 | 37.65 | 21,594 | 813,012 | 585,155 | Form |
| 3 | Folger, Anthony | Chief Financial Officer | Direct | Sell | 2032026 | 40.00 | 6,000 | 240,014 | 1,952,197 | Form |
| 4 | Subramanian, Sundar | EVP/GM Infrastructure Mgmt | Direct | Sell | 1262026 | 42.37 | 1,352 | 57,284 | 1,231,526 | Form |
| 5 | Pitt, Ian | Chief Information Officer | Direct | Sell | 10072025 | 46.20 | 409 | 18,896 | 340,402 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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