Progress Software Corporation Buyback
OLI recorded this information on 10/24/2012
Company:
Progress Software Corporation
Buyback:
PRGS buyback
$Amount Authorized:
$250,000,000
Buyback Details:
Progress Software Corporation announced that it has adopted a Rule 10b5-1 share repurchase plan for the purpose of repurchasing up to $250 million of its common stock as part of the Company's previously announced $350 million repurchase authorization. The plan is effective from October 24, 2012 until June 30, 2013 or, if earlier, upon the repurchase of $250 million of the Company's common stock under the plan.
Progress Software provides products to develop, deploy and manage business applications. Co.'s products are sold as perpetual licenses, but certain products also use term licensing models and its cloud-based offerings use a subscription-based model. Co. operates in North America and Latin America; Europe, the Middle East and Africa; and Asia and Australia, through local subsidiaries as well as independent distributors. Co.'s products include: Progress OpenEdge; Progress Chef; Progress Developer Tools; Progress Kemp LoadMaster; Progress MOVEit; Progress DataDirect; Progress WhatsUp Gold; Progress Sitefinity; Progress Flowmon; and Progress Corticon.
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Avg. Broker Rec.
 
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Buy (3.43 out of 4) 53rd percentile
(ranked higher than approx. 53% of all stocks covered)
Analysts' Target Price: PRGS Stock Forecast Based on Zacks ABR data; powered by Xignite |
