Benchmark Company Reiterates Buy Rating, $33 PT on Progress Software Corporation on Meeting with New CFO

In a report published Monday, Benchmark Company reiterated its Buy rating and $33.00 price target on Progress Software Corporation PRGS. Benchmark Company noted, “We recently met with Progress Software's Chief Financial Officer (CFO) Chris Perkins, who replaced former CFO Melissa Cruz in early February. While the purpose of our visit was an informal ‘meet and greet,' we were encouraged by the new CFO's grasp of the operational issues facing PRGS. We came away from our meeting thinking that Mr. Perkins is an operational positive, but should be neutral for the stock over the short- to medium-term.” Progress Software Corporation closed on Friday at $23.25.