NN Investment Partners Holdings N.V. bought a new stake in Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,649 shares of the software maker’s stock, valued at approximately $391,000.

Several other large investors have also modified their holdings of the company. Bank of Montreal Can raised its position in Progress Software Corporation by 25.3% in the first quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $117,000 after buying an additional 818 shares during the period. Ameritas Investment Partners Inc. bought a new position in Progress Software Corporation during the first quarter worth about $126,000. State of Alaska Department of Revenue raised its position in 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 last quarter. BlueCrest Capital Management Ltd bought a new position in Progress Software Corporation during the first quarter worth about $206,000. Finally, Banco BTG Pactual S.A. bought a new position in Progress Software Corporation during the first quarter worth about $218,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Progress Software Corporation (PRGS) traded up 1.02% during mid-day trading on Monday, hitting $31.77. The company had a trading volume of 166,468 shares. The stock’s 50 day moving average price is $30.97 and its 200 day moving average price is $29.54. The firm’s market cap is $1.53 billion. Progress Software Corporation has a 52-week low of $25.55 and a 52-week high of $32.53.

Progress Software Corporation (NASDAQ:PRGS) last posted its earnings results on Wednesday, June 28th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. Progress Software Corporation had a positive return on equity of 14.39% and a negative net margin of 13.96%. The firm had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $91.53 million. During the same period last year, the firm earned $0.33 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts predict that Progress Software Corporation will post $1.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Wednesday, August 30th.

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PRGS has been the topic of a number of recent research reports. BidaskClub raised Progress Software Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Zacks Investment Research raised Progress Software Corporation from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Wednesday, July 5th. Finally, TheStreet raised Progress Software Corporation from a “c+” rating to a “b” rating in a report on Wednesday, June 28th. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target 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.

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

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