Great West Life Assurance Co. Can reduced its stake in Progress Software Corp. (NASDAQ:PRGS) by 1.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 66,083 shares of the company’s stock after selling 690 shares during the period. Great West Life Assurance Co. Can owned approximately 0.14% of Progress Software Corp. worth $1,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Progress Software Corp. by 33.0% in the first quarter. Renaissance Technologies LLC now owns 537,011 shares of the company’s stock valued at $12,953,000 after buying an additional 133,100 shares during the period. Capstone Asset Management Co. boosted its position 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. Ameriprise Financial Inc. boosted its position in Progress Software Corp. by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 247,070 shares of the company’s stock valued at $6,784,000 after buying an additional 1,273 shares during the period. California Public Employees Retirement System boosted its position 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. Finally, Tower Research Capital LLC TRC boosted its position in Progress Software Corp. by 1,636.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,157 shares of the company’s stock valued at $142,000 after buying an additional 4,860 shares during the period. Institutional investors own 91.55% of the company’s stock.

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

Shares of Progress Software Corp. (NASDAQ:PRGS) traded down 0.10% during mid-day trading on Monday, reaching $29.75. The company had a trading volume of 205,958 shares. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 172.97 and a beta of 0.98. The firm has a 50-day moving average price of $27.83 and a 200-day moving average price of $27.72. Progress Software Corp. has a 1-year low of $22.01 and a 1-year high of $30.24.

Progress Software Corp. (NASDAQ:PRGS) last posted its quarterly earnings results on Wednesday, September 28th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. Progress Software Corp. had a return on equity of 12.08% and a net margin of 2.15%. The business earned $102 million during the quarter, compared to analysts’ expectations of $104.72 million. During the same period in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts expect that Progress Software Corp. will post $1.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.50 dividend on an annualized basis and a yield of 1.68%.

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A number of research analysts have commented on the stock. Citigroup Inc. reiterated a “neutral” rating on shares of Progress Software Corp. in a research report on Saturday, October 15th. Zacks Investment Research cut shares of Progress Software Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Benchmark Co. reiterated a “buy” rating and set a $31.00 price target on shares of Progress Software Corp. in a research report on Tuesday, October 11th. Wedbush reiterated a “neutral” rating and set a $24.00 price target on shares of Progress Software Corp. in a research report on Tuesday, October 11th. Finally, Ladenburg Thalmann cut shares of Progress Software Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $28.33.

In related news, major shareholder Praesidium Investment Manageme sold 900,000 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by corporate insiders.

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.

5 Day Chart for NASDAQ:PRGS

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