Strs Ohio Has $1,027,000 Stake in Progress Software Corp. (PRGS)
Strs Ohio continued to hold its stake in Progress Software Corp. (NASDAQ:PRGS) during the second quarter, Holdings Channel reports. The institutional investor owned 37,400 shares of the company’s stock at the end of the second quarter. Strs Ohio’s holdings in Progress Software Corp. were worth $1,027,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the stock. Capstone Asset Management Co. raised its stake in Progress Software Corp. by 1.7% in the second quarter. Capstone Asset Management Co. now owns 14,764 shares of the company’s stock worth $405,000 after buying an additional 240 shares in the last quarter. AXA raised its stake in Progress Software Corp. by 1.7% in the first quarter. AXA now owns 129,300 shares of the company’s stock worth $3,119,000 after buying an additional 2,100 shares in the last quarter. Springbok Capital Management LLC raised 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 in the last quarter. Aperio Group LLC raised its stake in Progress Software Corp. by 56.7% in the first quarter. Aperio Group LLC now owns 14,544 shares of the company’s stock worth $351,000 after buying an additional 5,261 shares in the last quarter. Finally, Royal Bank of Canada raised 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 in the last quarter. 92.65% of the stock is currently owned by institutional investors.
Progress Software Corp. (NASDAQ:PRGS) traded up 0.26% on Friday, reaching $27.09. The company had a trading volume of 190,833 shares. The stock has a 50 day moving average of $28.07 and a 200 day moving average of $27.13. The firm has a market capitalization of $1.32 billion, a PE ratio of 157.50 and a beta of 1.14. Progress Software Corp. has a 12 month low of $22.01 and a 12 month high of $29.80.
Progress Software Corp. (NASDAQ:PRGS) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. Progress Software Corp. had a net margin of 2.15% and a return on equity of 12.08%. The firm had revenue of $102 million for the quarter, compared to analysts’ expectations of $104.72 million. During the same period last year, the firm posted $0.39 EPS. Progress Software Corp.’s revenue was up 1.7% on a year-over-year basis. On average, analysts anticipate that Progress Software Corp. will post $1.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, November 29th.
A number of research firms have issued reports on PRGS. Wedbush reaffirmed a “hold” rating and issued a $24.00 price target on shares of Progress Software Corp. in a research report on Sunday, June 26th. JMP Securities reaffirmed a “hold” rating on shares of Progress Software Corp. in a research report on Sunday, July 3rd. TheStreet raised Progress Software Corp. from a “hold” rating to a “buy” rating in a research report 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 research report on Thursday, July 7th. Finally, Benchmark Co. reaffirmed a “buy” rating and issued a $31.00 price target on shares of Progress Software Corp. in a research report on Tuesday. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $28.38.
In other Progress Software Corp. news, major shareholder Praesidium Investment Manageme sold 900,000 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $28.11, for a total transaction of $25,299,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.
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.
Want to see what other hedge funds are holding PRGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progress Software Corp. (NASDAQ:PRGS).
Receive News & Ratings for Progress Software Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progress Software Corp. and related companies with MarketBeat.com's FREE daily email newsletter.