GSA Capital Partners LLP reduced its position in shares of Progress Software Corp (NASDAQ:PRGS) by 31.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,086 shares of the software maker’s stock after selling 18,056 shares during the quarter. GSA Capital Partners LLP owned 0.09% of Progress Software worth $1,415,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strs Ohio raised its position in Progress Software by 7.1% during the second quarter. Strs Ohio now owns 30,000 shares of the software maker’s stock worth $1,164,000 after acquiring an additional 2,000 shares in the last quarter. Smith Asset Management Group LP raised its position in shares of Progress Software by 3.3% in the second quarter. Smith Asset Management Group LP now owns 63,673 shares of the software maker’s stock valued at $2,472,000 after purchasing an additional 2,020 shares during the period. BlueMountain Capital Management LLC raised its position in shares of Progress Software by 9.0% in the second quarter. BlueMountain Capital Management LLC now owns 24,588 shares of the software maker’s stock valued at $955,000 after purchasing an additional 2,030 shares during the period. Trexquant Investment LP raised its position in shares of Progress Software by 8.3% in the second quarter. Trexquant Investment LP now owns 38,870 shares of the software maker’s stock valued at $1,509,000 after purchasing an additional 2,979 shares during the period. Finally, Sei Investments Co. raised its position in shares of Progress Software by 10.4% in the second quarter. Sei Investments Co. now owns 35,032 shares of the software maker’s stock valued at $1,360,000 after purchasing an additional 3,295 shares during the period. 92.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PRGS opened at $33.86 on Friday. The stock has a market capitalization of $1.55 billion, a PE ratio of 16.73 and a beta of 0.90. Progress Software Corp has a fifty-two week low of $30.23 and a fifty-two week high of $53.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05.
Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Thursday, September 27th. The software maker reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $95.79 million for the quarter, compared to analyst estimates of $96.98 million. Progress Software had a net margin of 15.30% and a return on equity of 28.94%. The company’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Progress Software Corp will post 2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be given a $0.155 dividend. The ex-dividend date is Friday, November 30th. This is a positive change from Progress Software’s previous quarterly dividend of $0.14. This represents a $0.62 annualized dividend and a dividend yield of 1.83%. Progress Software’s dividend payout ratio is presently 36.05%.
In other news, insider Dimitre Taslakov sold 2,000 shares of the stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $35.00, for a total value of $70,000.00. Following the transaction, the insider now directly owns 43,431 shares of the company’s stock, valued at $1,520,085. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.
Several equities analysts have recently weighed in on PRGS shares. ValuEngine lowered shares of Progress Software from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. BidaskClub raised shares of Progress Software from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Zacks Investment Research raised shares of Progress Software from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Thursday, October 4th. Finally, Wedbush reissued a “neutral” rating and issued a $38.00 price objective on shares of Progress Software in a research report on Friday, November 16th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $39.00.
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About Progress Software
Progress Software Corporation provides software solutions for various industries worldwide. It operates through three segments: OpenEdge; Data Connectivity and Integration; and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; DataRPM, which provides maintenance solutions for industrial IoT; and Kinvey that offers cloud backend as a service technology.
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