FMR LLC held its position in shares of Progress Software Corporation (NASDAQ:PRGS) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 223,750 shares of the software maker’s stock at the end of the first quarter. FMR LLC owned 0.47% of Progress Software Corporation worth $6,500,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PRGS. Bank of Montreal Can boosted its position in shares of Progress Software Corporation by 25.3% in the first quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $117,000 after buying an additional 818 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Progress Software Corporation during the first quarter valued at about $126,000. State of Alaska Department of Revenue raised its stake in shares of Progress Software Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,380 shares of the software maker’s stock valued at $156,000 after buying an additional 130 shares during the period. Sei Investments Co. raised its stake in shares of Progress Software Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 7,573 shares of the software maker’s stock valued at $220,000 after buying an additional 215 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of Progress Software Corporation by 88.5% in the first quarter. SG Americas Securities LLC now owns 7,946 shares of the software maker’s stock valued at $231,000 after buying an additional 3,730 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Progress Software Corporation (NASDAQ PRGS) traded up 1.26% during mid-day trading on Wednesday, reaching $32.92. 37,893 shares of the company’s stock were exchanged. Progress Software Corporation has a 52 week low of $25.55 and a 52 week high of $32.92. The stock’s market cap is $1.59 billion. The stock has a 50 day moving average price of $31.62 and a 200 day moving average price of $29.78.
Progress Software Corporation (NASDAQ:PRGS) last announced its earnings results on Wednesday, June 28th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $93.20 million for the quarter, compared to the consensus estimate of $91.53 million. Progress Software Corporation had a positive return on equity of 14.39% and a negative net margin of 13.96%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. Equities research analysts predict that Progress Software Corporation will post $1.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.50 annualized dividend and a yield of 1.54%.
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PRGS has been the topic of several research analyst reports. BidaskClub lowered shares of Progress Software Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Progress Software Corporation from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective on the stock in a report on Wednesday, July 5th. Finally, TheStreet upgraded shares of Progress Software Corporation from a “c+” rating to a “b” rating in a report on Wednesday, June 28th. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $32.25.
Progress Software Corporation Company Profile
Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.
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