Swiss National Bank Increases Stake in Progress Software Co. (NASDAQ:PRGS)

Swiss National Bank grew its position in shares of Progress Software Co. (NASDAQ:PRGS) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 103,100 shares of the software maker’s stock after buying an additional 1,600 shares during the quarter. Swiss National Bank’s holdings in Progress Software were worth $4,543,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PRGS. Marshall Wace North America L.P. purchased a new position in Progress Software during the 1st quarter worth $28,000. First Trust Advisors LP grew its stake in shares of Progress Software by 861.2% during the 1st quarter. First Trust Advisors LP now owns 119,222 shares of the software maker’s stock worth $5,290,000 after purchasing an additional 106,818 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Progress Software during the 1st quarter worth $164,000. Comerica Bank grew its stake in shares of Progress Software by 1.7% during the 4th quarter. Comerica Bank now owns 48,300 shares of the software maker’s stock worth $2,027,000 after purchasing an additional 828 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Progress Software by 20.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,022 shares of the software maker’s stock worth $272,000 after purchasing an additional 1,041 shares during the period. Institutional investors own 92.97% of the company’s stock.

Progress Software stock opened at $46.99 on Friday. Progress Software Co. has a 12-month low of $34.05 and a 12-month high of $49.23. The firm has a market cap of $2.07 billion, a PE ratio of 27.48 and a beta of 1.26. The business’s 50-day moving average price is $44.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.90 and a quick ratio of 0.90.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Wednesday, March 24th. The software maker reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.20. The business had revenue of $131.78 million for the quarter, compared to analyst estimates of $121.39 million. Progress Software had a net margin of 17.09% and a return on equity of 36.46%. The company’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 EPS. On average, equities research analysts predict that Progress Software Co. will post 2.92 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st will be issued a dividend of $0.175 per share. The ex-dividend date is Friday, May 28th. This represents a $0.70 annualized dividend and a dividend yield of 1.49%. Progress Software’s payout ratio is currently 26.12%.

In other news, SVP Jeremy Segal sold 761 shares of the stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $43.62, for a total transaction of $33,194.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

A number of brokerages recently commented on PRGS. Guggenheim began coverage on shares of Progress Software in a research note on Tuesday. They issued a “buy” rating and a $56.00 price objective on the stock. Zacks Investment Research cut shares of Progress Software from a “buy” rating to a “hold” rating in a research note on Thursday, May 27th.

Progress Software Profile

Progress Software Corporation develops business applications. The company operates through three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; MOVEit that provides secure collaboration and automated file transfers of critical business information; and WhatsUp Gold, a network monitoring solution.

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Institutional Ownership by Quarter for Progress Software (NASDAQ:PRGS)

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