Laurion Capital Management LP acquired a new position in shares of Progress Software Corporation (NASDAQ:PRGS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,600 shares of the software maker’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in shares of Progress Software Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,380 shares of the software maker’s stock worth $156,000 after buying an additional 130 shares during the period. US Bancorp DE increased its stake in shares of Progress Software Corporation by 0.6% in the first quarter. US Bancorp DE now owns 24,269 shares of the software maker’s stock valued at $706,000 after buying an additional 143 shares during the last quarter. Sei Investments Co. increased its stake in shares of Progress Software Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 7,573 shares of the software maker’s stock valued at $220,000 after buying an additional 215 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Progress Software Corporation by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the software maker’s stock valued at $578,000 after buying an additional 400 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Progress Software Corporation by 1.6% in the first quarter. Arizona State Retirement System now owns 25,429 shares of the software maker’s stock valued at $739,000 after buying an additional 400 shares during the last quarter. 91.57% of the stock is owned by institutional investors.

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

Shares of Progress Software Corporation (PRGS) traded up 0.38% during mid-day trading on Friday, hitting $29.24. 439,341 shares of the company traded hands. Progress Software Corporation has a one year low of $24.20 and a one year high of $32.47. The stock’s market capitalization is $1.41 billion. The firm has a 50-day moving average of $29.50 and a 200-day moving average of $29.58.

Progress Software Corporation (NASDAQ:PRGS) last posted its quarterly earnings results on Wednesday, March 29th. The software maker reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.08. The company had revenue of $91.20 million during the quarter, compared to analyst estimates of $87.48 million. Progress Software Corporation had a negative net margin of 14.62% and a positive return on equity of 12.29%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, equities analysts predict that Progress Software Corporation will post $1.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.50 annualized dividend and a yield of 1.71%. Progress Software Corporation’s payout ratio is currently -42.73%.

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Several analysts recently commented on PRGS shares. Zacks Investment Research downgraded shares of Progress Software Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, March 22nd. Wedbush lifted their target price on shares of Progress Software Corporation from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Thursday, March 30th. Finally, BidaskClub downgraded shares of Progress Software Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.25.

Progress Software Corporation Company Profile

Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.

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