Progress Streamlines Operations by Enhancing Business Integration and Collaboration to Capitalize on Expanding Market Opportunities

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Wedbush Cuts Price Target on Progress Software (PRGS) Following 3Q15 Results

October 2, 2015 8:16 AM EDT

Wedbush maintained a Neutral rating on Progress Software (NASDAQ: PRGS), and cut the price target to $25.00 (from $29.00), following the company's 3Q15 earnings results. PRGS missed slightly on the top line ($101M vs. 104M) and lowered FY15 revenue guidance by three points to 3-4% in organic, constant-currency terms.

Analyst Steve Koenig commented,... More