Revenue Update on Progress Software Corporation(NASDAQ:PRGS)

Progress Software Corporation(NASDAQ:PRGS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jun 29, 2016. Company reported revenue of $96.68M. Analysts estimated a revenue of $94.64M. Earnings per share were $0.33. Analysts had estimated an EPS of $0.29.

Progress Software Corporation (PRGS) made into the market gainers list on Fridays trading session with the shares advancing 1.13% or 0.31 points. Due to strong positive momentum, the stock ended at $27.77, which is also near the day’s high of $28.4. The stock began the session at $27.53 and the volume stood at 4,01,463 shares. The 52-week high of the shares is $30.57 and the 52 week low is $21.94. The company has a current market capitalization of $1,397 M and it has 5,03,16,861 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Ram Gupta (director) sold 4,764 shares at $26.35 per share price.Also, On May 11, 2016, Barry N Bycoff (director) sold 5,664 shares at $25.27 per share price.On Apr 29, 2016, Michael Mark (director) sold 7,705 shares at $26.13 per share price, according to the Form-4 filing with the securities and exchange commission.

Progress Software Corporation is a global software company that simplifies the development deployment and management of business applications. The Company’s products provide solutions for rapid application development broad data integration and efficient data analysis. The Company has three business units which include OpenEdge Data Connectivity and Integration and Application Development and Deployment. The solutions within the OpenEdge Business Unit include Progress OpenEdge and Progress Corticon. The solutions within the DCI Business Unit include Progress DataDirect Connect Progress DataDirect Cloud and Progress Easyl. The solutions within the AppDev Business Unit include Progress Pacific Progress Rollbase Modulus Telerik Dev Tools Telerik Dev Cloud Telerik Platform Telerik ALM and Telerik Sitefinity.

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