Shell Asset Management Co. continued to hold its position in Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to its most recent filing with the SEC. The firm owned 19,272 shares of the software maker’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Progress Software Corporation were worth $595,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. State of Alaska Department of Revenue boosted its stake in shares of 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 valued at $156,000 after buying an additional 130 shares during the last quarter. US Bancorp DE boosted its stake 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 valued at $706,000 after buying an additional 143 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Progress Software Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 7,573 shares of the software maker’s stock valued at $220,000 after buying an additional 215 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of 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 valued at $578,000 after buying an additional 400 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of 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 last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Progress Software Corporation (PRGS) opened at 32.23 on Monday. The company’s market capitalization is $1.56 billion. The firm has a 50-day moving average price of $31.49 and a 200 day moving average price of $29.71. Progress Software Corporation has a 12-month low of $25.55 and a 12-month high of $32.53.

Progress Software Corporation (NASDAQ:PRGS) last announced its earnings results on Wednesday, June 28th. The software maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $91.53 million. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Progress Software Corporation will post $1.77 earnings per share for the current 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 paid a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.50 annualized dividend and a yield of 1.55%.

TRADEMARK VIOLATION NOTICE: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/14/shell-asset-management-co-maintains-stake-in-progress-software-corporation-nasdaqprgs.html.

Several equities research analysts recently weighed in on the company. BidaskClub cut Progress Software Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Zacks Investment Research raised Progress Software Corporation from a “hold” rating to a “strong-buy” rating and set a $36.00 price target on the stock in a research note on Wednesday, July 5th. Finally, TheStreet raised 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, one has issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus 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.

Want to see what other hedge funds are holding PRGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progress Software Corporation (NASDAQ:PRGS).

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

Receive News & Stock Ratings for Progress Software Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progress Software Corporation and related stocks with our FREE daily email newsletter.