Progress Software Corp. (NASDAQ:PRGS) major shareholder Praesidium Investment Manageme sold 900,000 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Progress Software Corp. (NASDAQ:PRGS) opened at 27.25 on Tuesday. The company’s market capitalization is $1.32 billion. The stock has a 50 day moving average price of $28.70 and a 200-day moving average price of $26.76. Progress Software Corp. has a 12-month low of $21.94 and a 12-month high of $29.80.

Progress Software Corp. (NASDAQ:PRGS) last announced its earnings results on Wednesday, June 29th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. The business earned $96.10 million during the quarter. Progress Software Corp. had a negative net margin of 0.79% and a positive return on equity of 11.42%. Progress Software Corp.’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Equities analysts predict that Progress Software Corp. will post $1.61 EPS for the current fiscal year.

Several brokerages have recently commented on PRGS. Wedbush reissued a “hold” rating and issued a $24.00 price objective on shares of Progress Software Corp. in a research note on Sunday, June 26th. JMP Securities reaffirmed a “hold” rating on shares of Progress Software Corp. in a research report on Sunday, July 3rd. Citigroup Inc. downgraded Progress Software Corp. from a “neutral” rating to a “sell” rating and decreased their price target for the company from $36.00 to $31.00 in a research report on Friday, June 3rd. Zacks Investment Research raised Progress Software Corp. from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, July 7th. Finally, TheStreet raised Progress Software Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, June 30th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.56.

Large investors have recently bought and sold shares of the company. PineBridge Investments L.P. raised its stake in Progress Software Corp. by 2.6% in the second quarter. PineBridge Investments L.P. now owns 6,381 shares of the company’s stock valued at $175,000 after buying an additional 162 shares during the period. Public Employees Retirement System of Ohio raised its stake in Progress Software Corp. by 4.1% in the second quarter. Public Employees Retirement System of Ohio now owns 5,114 shares of the company’s stock valued at $140,000 after buying an additional 202 shares during the period. Capstone Asset Management Co. raised its stake in Progress Software Corp. by 1.7% in the second quarter. Capstone Asset Management Co. now owns 14,764 shares of the company’s stock valued at $405,000 after buying an additional 240 shares during the period. Teacher Retirement System of Texas raised its stake in Progress Software Corp. by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 6,321 shares of the company’s stock valued at $174,000 after buying an additional 762 shares during the period. Finally, California Public Employees Retirement System raised its stake in Progress Software Corp. by 1.4% in the second quarter. California Public Employees Retirement System now owns 58,262 shares of the company’s stock valued at $1,600,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Progress Software Corp. Company Profile

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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