Moody National Bank Trust Division Reduces Holdings in Progress Software Co. (NASDAQ:PRGS)

Moody National Bank Trust Division reduced its stake in Progress Software Co. (NASDAQ:PRGS – Get Rating) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,592 shares of the software maker’s stock after selling 844 shares during the quarter. Moody National Bank Trust Division owned about 0.05% of Progress Software worth $1,190,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Progress Software by 1.7% during the third quarter. Vanguard Group Inc. now owns 4,989,378 shares of the software maker’s stock worth $212,298,000 after buying an additional 84,371 shares during the period. Segall Bryant & Hamill LLC grew its stake in Progress Software by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,776,994 shares of the software maker’s stock valued at $75,609,000 after purchasing an additional 37,038 shares during the last quarter. Boston Trust Walden Corp increased its holdings in shares of Progress Software by 1.8% in the third quarter. Boston Trust Walden Corp now owns 1,609,055 shares of the software maker’s stock valued at $68,465,000 after purchasing an additional 28,454 shares during the period. State Street Corp raised its stake in shares of Progress Software by 3.0% in the first quarter. State Street Corp now owns 1,459,750 shares of the software maker’s stock worth $68,740,000 after purchasing an additional 42,824 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Progress Software by 3.6% during the second quarter. Renaissance Technologies LLC now owns 1,295,070 shares of the software maker’s stock worth $58,667,000 after purchasing an additional 45,289 shares during the period.

Progress Software Trading Down 0.3 %

Shares of NASDAQ:PRGS opened at $57.57 on Friday. The company has a market capitalization of $2.50 billion, a PE ratio of 26.65, a PEG ratio of 8.39 and a beta of 0.99. Progress Software Co. has a 12-month low of $40.33 and a 12-month high of $59.00. The business has a 50 day moving average of $55.71 and a two-hundred day moving average of $51.10. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.54.

Progress Software (NASDAQ:PRGS – Get Rating) last posted its earnings results on Tuesday, January 17th. The software maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). The firm had revenue of $159.17 million during the quarter, compared to analyst estimates of $163.04 million. Progress Software had a net margin of 15.79% and a return on equity of 41.04%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, analysts forecast that Progress Software Co. will post 3.44 EPS for the current year.

Progress Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, February 28th. Progress Software’s dividend payout ratio (DPR) is presently 32.41%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PRGS shares. StockNews.com began coverage on shares of Progress Software in a research report on Thursday. They set a “strong-buy” rating for the company. Guggenheim raised their target price on shares of Progress Software from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, March 13th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.75.

Insider Activity at Progress Software

In other Progress Software news, CEO Yogesh K. Gupta sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $49.43, for a total value of $247,150.00. Following the sale, the chief executive officer now directly owns 30,000 shares of the company’s stock, valued at $1,482,900. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Progress Software news, CEO Yogesh K. Gupta sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $49.43, for a total transaction of $247,150.00. Following the completion of the transaction, the chief executive officer now directly owns 30,000 shares in the company, valued at $1,482,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sundar Subramanian sold 556 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $55.00, for a total transaction of $30,580.00. Following the sale, the executive vice president now directly owns 24,166 shares of the company’s stock, valued at approximately $1,329,130. The disclosure for this sale can be found here. Insiders sold a total of 36,543 shares of company stock worth $1,947,392 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

About Progress Software

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Progress Software Corp. engages in the provision of products that develop and deploy mission-critical business applications. Its products and solutions include OpenEdge, Developer Tools, Sitefinity, Corticon, DataDirect Connect, MOVEit, Chef, WhatsUp Gold, Kemp Loadmaster, and Kemp Flowmon Network Visibility.