Great West Life Assurance Co. Can Has $148,000 Position in Progress Software Corp. (PRGS)
Great West Life Assurance Co. Can continued to hold its stake in Progress Software Corp. (NASDAQ:PRGS) during the second quarter, Holdings Channel reports. The institutional investor owned 6,134 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Progress Software Corp. were worth $148,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new stake in Progress Software Corp. during the second quarter worth about $110,000. Royal Bank of Canada boosted its stake in Progress Software Corp. by 720.5% in the first quarter. Royal Bank of Canada now owns 7,762 shares of the company’s stock worth $187,000 after buying an additional 6,816 shares during the last quarter. Springbok Capital Management LLC boosted its stake in Progress Software Corp. by 77.1% in the first quarter. Springbok Capital Management LLC now owns 8,500 shares of the company’s stock worth $205,000 after buying an additional 3,700 shares during the last quarter. Suntrust Banks Inc. bought a new stake in Progress Software Corp. during the second quarter worth about $224,000. Finally, Zebra Capital Management LLC bought a new stake in Progress Software Corp. during the first quarter worth about $274,000. Institutional investors own 92.65% of the company’s stock.
Shares of Progress Software Corp. (NASDAQ:PRGS) traded up 2.29% during trading on Thursday, reaching $28.15. The company had a trading volume of 264,512 shares. Progress Software Corp. has a 52-week low of $21.94 and a 52-week high of $29.80. The company has a 50 day moving average of $28.62 and a 200-day moving average of $26.78. The firm’s market capitalization is $1.36 billion.
Progress Software Corp. (NASDAQ:PRGS) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The business had revenue of $96.10 million for the quarter. Progress Software Corp. had a positive return on equity of 11.42% and a negative net margin of 0.79%. Progress Software Corp.’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 EPS. Equities analysts expect that Progress Software Corp. will post $1.61 earnings per share for the current year.
PRGS has been the topic of a number of recent research reports. TheStreet upgraded Progress Software Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, June 30th. Zacks Investment Research raised Progress Software Corp. from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Thursday, July 7th. JMP Securities reissued a “hold” rating on shares of Progress Software Corp. in a report on Sunday, July 3rd. Wedbush reissued a “hold” rating and set a $24.00 price target on shares of Progress Software Corp. in a report on Sunday, June 26th. Finally, Ladenburg Thalmann lowered Progress Software Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, September 13th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $28.56.
In related news, CAO Paul A. Jalbert sold 21,041 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $28.93, for a total value of $608,716.13. Following the sale, the chief accounting officer now owns 22,125 shares of the company’s stock, valued at approximately $640,076.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Praesidium Investment Manageme sold 900,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $28.11, for a total value of $25,299,000.00. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.
About Progress Software Corp.
Progress Software Corporation is a global software company. The Company offers solutions in the development, deployment and management of business applications on premise or in the cloud, on platforms or devices, to various data sources. The Company operates through three segments: OpenEdge; Data Connectivity and Integration, and Application Development and Deployment.
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