Cigna Investments Inc. New bought a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) during the second quarter, Holdings Channel reports. The fund bought 43,869 shares of the software maker’s stock, valued at approximately $1,355,000.

Other hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its stake 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 approximately $126,000. State of Alaska Department of Revenue boosted 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 last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Progress Software Corporation during the first quarter valued at approximately $206,000. Finally, Banco BTG Pactual S.A. bought a new stake in shares of Progress Software Corporation during the first quarter valued at approximately $218,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

Progress Software Corporation (NASDAQ:PRGS) opened at 31.89 on Thursday. The stock’s 50 day moving average price is $31.36 and its 200-day moving average price is $29.67. Progress Software Corporation has a 12 month low of $25.55 and a 12 month high of $32.53. The firm’s market capitalization is $1.54 billion.

Progress Software Corporation (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, June 28th. The software maker reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. Progress Software Corporation had a positive return on equity of 14.39% and a negative net margin of 13.96%. The firm had revenue of $93.20 million for the quarter, compared to analyst estimates of $91.53 million. During the same period last year, the company earned $0.33 EPS. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Progress Software Corporation will post $1.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.50 annualized dividend and a dividend yield of 1.57%.

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Several analysts recently commented on PRGS shares. TheStreet upgraded Progress Software Corporation from a “c+” rating to a “b” rating in a report on Wednesday, June 28th. BidaskClub upgraded Progress Software Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research upgraded Progress Software Corporation from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a report on Wednesday, July 5th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.25.

About Progress Software Corporation

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

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