Mason Street Advisors LLC purchased a new stake in Progress Software Corp. (NASDAQ:PRGS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,837 shares of the company’s stock, valued at approximately $270,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Progress Software Corp. by 33.0% in the first quarter. Renaissance Technologies LLC now owns 537,011 shares of the company’s stock valued at $12,953,000 after buying an additional 133,100 shares in the last quarter. Springbok Capital Management LLC increased its stake in shares of 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. Capstone Asset Management Co. increased its stake in shares of 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 during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Progress Software Corp. during the second quarter worth about $6,526,000. Finally, Aperio Group LLC increased its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
Progress Software Corp. (NASDAQ:PRGS) opened at 27.33 on Monday. Progress Software Corp. has a 52-week low of $22.01 and a 52-week high of $29.80. The firm has a market capitalization of $1.33 billion, a P/E ratio of 158.90 and a beta of 1.14. The firm has a 50-day moving average price of $28.27 and a 200 day moving average price of $27.04.
Progress Software Corp. (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, September 28th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company earned $102 million during the quarter, compared to analysts’ expectations of $104.72 million. During the same quarter in the prior year, the company earned $0.39 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Thursday, December 1st will be given a $0.125 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.50 annualized dividend and a dividend yield of 1.83%.
PRGS has been the subject of a number of recent analyst reports. TheStreet raised Progress Software Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 30th. JMP Securities reissued a “hold” rating on shares of Progress Software Corp. in a research report on Sunday, July 3rd. Zacks Investment Research downgraded Progress Software Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Wedbush raised their price objective on Progress Software Corp. from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Friday, June 24th. Finally, Ladenburg Thalmann downgraded Progress Software Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.38.
In other news, major shareholder Praesidium Investment Manageme sold 900,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $28.11, for a total value of $25,299,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. 2.60% of the stock is owned by 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.
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.