Progress Software Is Making Progress Where It Counts

Shares of application development platform Progress Software (NASDAQ: PRGS) shed 5% of their value on Wednesday following the company's fiscal third-quarter 2020 earnings report, which it filed after markets closed on Tuesday. While shareholders have been skeptical of its prospects as of late -- shares are down 9% year to date -- a rebound from COVID-19-induced sales pressure coupled with strong projections on sales from recent acquisitions could provide a catalyst to Progress' share price.