Progress Software Corp (PRGS) has seen an ownership shift, with Vanguard Group filing a 13G/A form with the SEC disclosing ownership of 5.01MM shares. This represents 11.66% of the company, an increase of 0.57% since the last filing dated February 10, 2022.
In terms of financial projections, analysts suggest a one-year price target for Progress Software of $56.39, representing a decrease of 1.33% from its current closing price of $57.15. This is a decrease from the low of $45.45 to a high of $73.50.
Progress Software’s projected annual revenue is forecasted to be $642MM, an increase of 6.71%. On the other hand, their projected annual EPS is expected to soar to $4.42, an increase of 102.12%. This is a reflection of their increased ownership and market share, indicating a strong future for the company.
Investors should keep an eye on the progress of Vanguard Group’s position in Progress Software, as their increased ownership could be a sign of positive results in the company’s future performance. With their potential to become a major player in the industry, Progress Software is a company worth watching.