NN Investment Partners Holdings N.V. Purchases New Position in Progress Software Corporation (NASDAQ:PRGS)
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.
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.
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