Third Avenue Management LLC decreased its stake in Progress Software Corporation (NASDAQ:PRGS) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,355 shares of the company’s stock after selling 461 shares during the period. Third Avenue Management LLC owned 0.23% of Progress Software Corporation worth $3,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pax World Management LLC raised its position in Progress Software Corporation by 11.7% in the second quarter. Pax World Management LLC now owns 356,838 shares of the company’s stock valued at $9,799,000 after buying an additional 37,443 shares in the last quarter. Teacher Retirement System of Texas raised its position in Progress Software Corporation 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 in the last quarter. Vanguard Group Inc. raised its position in Progress Software Corporation 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 in the last quarter. Trigran Investments Inc. raised its position in Progress Software Corporation by 0.8% in the second quarter. Trigran Investments Inc. now owns 856,778 shares of the company’s stock valued at $23,527,000 after buying an additional 6,425 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Progress Software Corporation by 2.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 489,896 shares of the company’s stock valued at $13,453,000 after buying an additional 10,812 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Institutional Ownership by Quarter for Progress Software Corporation (NASDAQ:PRGS)

Shares of Progress Software Corporation (NASDAQ:PRGS) traded up 0.94% during mid-day trading on Thursday, hitting $29.13. The stock had a trading volume of 1,086,333 shares. Progress Software Corporation has a 12-month low of $22.57 and a 12-month high of $32.47. The stock’s market cap is $1.42 billion. The company’s 50 day moving average price is $29.54 and its 200 day moving average price is $28.92.

Progress Software Corporation (NASDAQ:PRGS) last issued its quarterly earnings results on Monday, January 16th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The company earned $118 million during the quarter, compared to the consensus estimate of $123.51 million. Progress Software Corporation had a positive return on equity of 13.46% and a negative net margin of 13.75%. Progress Software Corporation’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Equities research analysts predict that Progress Software Corporation will post $1.65 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, March 1st will be issued a $0.125 dividend. The ex-dividend date is Monday, February 27th. This represents a $0.50 annualized dividend and a yield of 1.72%. Progress Software Corporation’s dividend payout ratio (DPR) is presently -42.73%.

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Several research analysts have recently commented on PRGS shares. Zacks Investment Research upgraded Progress Software Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 30th. Sidoti started coverage on Progress Software Corporation in a research report on Thursday, December 29th. They set a “neutral” rating and a $34.00 price target for the company. Benchmark Co. restated a “buy” rating and set a $34.00 price target on shares of Progress Software Corporation in a research report on Friday, December 30th. Argus restated a “hold” rating on shares of Progress Software Corporation in a research report on Friday, December 30th. Finally, Wedbush restated a “neutral” rating on shares of Progress Software Corporation in a research report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Progress Software Corporation has an average rating of “Hold” and an average price target of $29.43.

In other Progress Software Corporation news, major shareholder Praesidium Investment Manageme sold 850,000 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $30.81, for a total value of $26,188,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

About Progress Software Corporation

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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