Tower Research Capital LLC TRC increased its stake in shares of Progress Software Corp. (NASDAQ:PRGS) by 1,636.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,157 shares of the company’s stock after buying an additional 4,860 shares during the period. Tower Research Capital LLC TRC’s holdings in Progress Software Corp. were worth $142,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Progress Software Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,911,746 shares of the company’s stock valued at $107,417,000 after buying an additional 116,562 shares during the period. Dimensional Fund Advisors LP raised its position in Progress Software Corp. by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,074,052 shares of the company’s stock valued at $56,949,000 after buying an additional 123,197 shares during the period. Fisher Asset Management LLC raised its position in Progress Software Corp. by 9.9% in the second quarter. Fisher Asset Management LLC now owns 846,210 shares of the company’s stock valued at $24,565,000 after buying an additional 75,942 shares during the period. Teachers Advisors Inc. raised its position in Progress Software Corp. by 3.3% in the first quarter. Teachers Advisors Inc. now owns 653,435 shares of the company’s stock valued at $15,761,000 after buying an additional 21,053 shares during the period. Finally, 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 during the period. 92.65% of the stock is owned by institutional investors.
Progress Software Corp. (NASDAQ:PRGS) opened at 27.33 on Friday. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 158.90 and a beta of 1.14. Progress Software Corp. has a 52 week low of $22.01 and a 52 week high of $29.80. The firm’s 50-day moving average price is $28.27 and its 200-day moving average price is $27.04.
Progress Software Corp. (NASDAQ:PRGS) last announced its quarterly earnings results on Wednesday, September 28th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $102 million for the quarter, compared to the consensus estimate of $104.72 million. Progress Software Corp. had a return on equity of 12.08% and a net margin of 2.15%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 EPS. On average, equities analysts expect that Progress Software Corp. will post $1.59 earnings per share for the current year.
The firm also recently declared 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 yield of 1.83%. The ex-dividend date is Tuesday, November 29th.
PRGS has been the subject of a number of recent analyst reports. Wedbush increased their price objective on Progress Software Corp. from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, June 24th. Zacks Investment Research lowered Progress Software Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. JMP Securities reissued a “hold” rating on shares of Progress Software Corp. in a report on Sunday, July 3rd. 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. Finally, TheStreet raised Progress Software Corp. from a “hold” rating to a “buy” rating in a report on Thursday, June 30th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $28.38.
In other Progress Software Corp. news, CAO Paul A. Jalbert sold 21,041 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $28.93, for a total transaction of $608,716.13. Following the completion of the transaction, the chief accounting officer now owns 22,125 shares in the company, valued at $640,076.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Praesidium Investment Manageme sold 900,000 shares of the firm’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 disclosure for this sale can be found here. 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.
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