Paradigm Capital Management Inc. NY reduced its stake in Progress Software Corporation (NASDAQ:PRGS) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,250 shares of the software maker’s stock after selling 2,625 shares during the period. Paradigm Capital Management Inc. NY owned approximately 0.10% of Progress Software Corporation worth $1,460,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its holdings in shares of Progress Software Corporation by 76.5% during the second quarter. Riverhead Capital Management LLC now owns 3,530 shares of the software maker’s stock valued at $109,000 after purchasing an additional 1,530 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Progress Software Corporation by 25.3% during the first quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $117,000 after purchasing an additional 818 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Progress Software Corporation during the first quarter valued at $126,000. BlueCrest Capital Management Ltd bought a new position in shares of Progress Software Corporation during the first quarter valued at $206,000. Finally, Banco BTG Pactual S.A. bought a new position in shares of Progress Software Corporation during the first quarter valued at $218,000. 91.61% of the stock is currently owned by hedge funds and other institutional investors.

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A number of research analysts have recently issued reports on the company. BidaskClub downgraded Progress Software Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded Progress Software Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 30th. Benchmark Co. reaffirmed a “buy” rating and set a $42.00 price target (up from $34.00) on shares of Progress Software Corporation in a report on Wednesday. Finally, TheStreet raised Progress Software Corporation from a “c+” rating to a “b” rating in a report on Wednesday, June 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.75.

Progress Software Corporation (PRGS) traded down 0.27% on Wednesday, reaching $36.28. The company’s stock had a trading volume of 20,930 shares. The company’s market capitalization is $1.75 billion. The firm’s 50 day moving average price is $32.59 and its 200-day moving average price is $30.40. Progress Software Corporation has a 1-year low of $25.55 and a 1-year high of $36.48.

Progress Software Corporation (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, June 28th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.05. The business had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $91.53 million. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities analysts forecast that Progress Software Corporation will post $1.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Progress Software Corporation’s previous quarterly dividend of $0.13. Progress Software Corporation’s payout ratio is -42.74%.

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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