State Board of Administration of Florida Retirement System held its stake in Progress Software Corporation (NASDAQ:PRGS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,780 shares of the software maker’s stock at the close of the 2nd quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of Progress Software Corporation worth $1,476,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can grew its position in shares of Progress Software Corporation by 25.3% in the 1st quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock worth $117,000 after buying an additional 818 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Progress Software Corporation in the 1st quarter worth approximately $126,000. BlueCrest Capital Management Ltd bought a new stake in shares of Progress Software Corporation in the 1st quarter worth approximately $206,000. Banco BTG Pactual S.A. bought a new stake in shares of Progress Software Corporation in the 1st quarter worth approximately $218,000. Finally, Sei Investments Co. grew its position in shares of Progress Software Corporation by 2.9% in the 1st quarter. Sei Investments Co. now owns 7,573 shares of the software maker’s stock worth $220,000 after buying an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 91.61% of the company’s stock.

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Shares of Progress Software Corporation (PRGS) opened at 37.31 on Friday. Progress Software Corporation has a 12 month low of $25.55 and a 12 month high of $38.51. The stock has a 50 day moving average price of $33.12 and a 200-day moving average price of $30.60. The company’s market capitalization is $1.80 billion.

Progress Software Corporation (NASDAQ:PRGS) last released its earnings results on Wednesday, June 28th. The software maker reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $91.53 million. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Analysts expect that Progress Software Corporation will post $1.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.14 per share. This is a boost from Progress Software Corporation’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, November 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.50%. Progress Software Corporation’s dividend payout ratio is currently -42.74%.

A number of brokerages have recently weighed in on PRGS. Zacks Investment Research lowered Progress Software Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark Co. reiterated a “buy” rating and issued a $42.00 price objective (up from $34.00) on shares of Progress Software Corporation in a research report on Wednesday. BidaskClub upgraded Progress Software Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, TheStreet upgraded Progress Software Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, June 28th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $36.00.

Progress Software Corporation 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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