Legal & General Group Plc increased its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,293 shares of the software maker’s stock after buying an additional 438 shares during the period. Legal & General Group Plc owned approximately 0.18% of Progress Software Corporation worth $2,535,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake 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 in the last quarter. US Bancorp DE raised its stake in 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 in the last quarter. Sei Investments Co. raised its stake in Progress Software Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 7,573 shares of the software maker’s stock worth $220,000 after buying an additional 215 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in 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 worth $578,000 after buying an additional 400 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in 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 period. Hedge funds and other institutional investors own 91.31% of the company’s stock.

Progress Software Corporation (NASDAQ PRGS) traded up 1.14% on Monday, reaching $31.81. 264,178 shares of the company traded hands. Progress Software Corporation has a 1-year low of $25.55 and a 1-year high of $32.53. The stock’s market capitalization is $1.54 billion. The stock’s 50-day moving average is $30.97 and its 200-day moving average is $29.54.

Progress Software Corporation (NASDAQ:PRGS) last posted its quarterly earnings results on Wednesday, June 28th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $93.20 million during the quarter, compared to analyst estimates of $91.53 million. Progress Software Corporation had a negative net margin of 13.96% and a positive return on equity of 14.39%. Progress Software Corporation’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $0.33 EPS. Equities research analysts expect that Progress Software Corporation will post $1.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, August 30th.

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Several equities research analysts have commented on PRGS shares. TheStreet upgraded shares of Progress Software Corporation from a “c+” rating to a “b” rating in a research note on Wednesday, June 28th. BidaskClub upgraded shares of Progress Software Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Zacks Investment Research upgraded shares of Progress Software Corporation from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, July 5th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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