Progress Software Corporation (PRGS) Stake Maintained by Public Employees Retirement Association of Colorado
Public Employees Retirement Association of Colorado continued to hold its position in shares of Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,557 shares of the software maker’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado’s holdings in Progress Software Corporation were worth $295,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of PRGS. Bank of New York Mellon Corp raised its position in shares of Progress Software Corporation by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 782,074 shares of the software maker’s stock worth $22,720,000 after buying an additional 39,044 shares during the period. US Bancorp DE raised its position 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 worth $706,000 after buying an additional 143 shares during the period. Capital Fund Management S.A. purchased a new position in shares of Progress Software Corporation during the first quarter worth about $1,075,000. Algert Global LLC purchased a new position in shares of Progress Software Corporation during the first quarter worth about $939,000. Finally, First Trust Advisors LP raised its position in shares of Progress Software Corporation by 220.7% in the first quarter. First Trust Advisors LP now owns 51,109 shares of the software maker’s stock worth $1,485,000 after buying an additional 35,172 shares during the period. Institutional investors and hedge funds own 91.61% of the company’s stock.
Progress Software Corporation (PRGS) opened at 33.08 on Thursday. Progress Software Corporation has a 12 month low of $25.55 and a 12 month high of $33.89. The firm’s market capitalization is $1.60 billion. The firm’s 50-day moving average is $32.06 and its 200 day moving average is $30.04.
Progress Software Corporation (NASDAQ:PRGS) last announced its quarterly earnings results on Wednesday, June 28th. The software maker reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $91.53 million. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. Progress Software Corporation’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Equities analysts predict that Progress Software Corporation will post $1.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.51%. Progress Software Corporation’s dividend payout ratio (DPR) is presently -42.74%.
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A number of research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Progress Software Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research lowered shares of Progress Software Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, TheStreet upgraded shares of Progress Software Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, June 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.25.
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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