Quantbot Technologies LP trimmed its holdings in Progress Software Corporation (NASDAQ:PRGS) by 37.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,932 shares of the software maker’s stock after selling 10,646 shares during the quarter. Quantbot Technologies LP’s holdings in Progress Software Corporation were worth $684,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Progress Software Corporation by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,921 shares of the software maker’s stock worth $152,000 after buying an additional 44 shares during the period. Stanley Laman Group Ltd. raised its holdings in shares of Progress Software Corporation by 1.7% in the second quarter. Stanley Laman Group Ltd. now owns 18,935 shares of the software maker’s stock worth $585,000 after buying an additional 318 shares during the period. Pacad Investment Ltd. raised its holdings in shares of Progress Software Corporation by 5.8% in the second quarter. Pacad Investment Ltd. now owns 7,300 shares of the software maker’s stock worth $225,000 after buying an additional 400 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in shares of Progress Software Corporation by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,510 shares of the software maker’s stock worth $356,000 after buying an additional 460 shares during the period. Finally, Profund Advisors LLC raised its holdings in shares of Progress Software Corporation by 6.0% in the second quarter. Profund Advisors LLC now owns 9,243 shares of the software maker’s stock worth $286,000 after buying an additional 526 shares during the period. Hedge funds and other institutional investors own 91.24% of the company’s stock.

Progress Software Corporation (NASDAQ:PRGS) opened at $41.98 on Friday. The company has a market capitalization of $2,006.98, a price-to-earnings ratio of 25.60 and a beta of 0.66. Progress Software Corporation has a fifty-two week low of $27.16 and a fifty-two week high of $42.97. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

Progress Software Corporation (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, September 27th. The software maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.40 by $0.08. The company had revenue of $97.60 million for the quarter, compared to the consensus estimate of $97.60 million. Progress Software Corporation had a positive return on equity of 20.30% and a negative net margin of 13.23%. Progress Software Corporation’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. equities analysts predict that Progress Software Corporation will post 1.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.14 per share. This is an increase from Progress Software Corporation’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a yield of 1.33%. The ex-dividend date is Thursday, November 30th. Progress Software Corporation’s dividend payout ratio (DPR) is presently -45.87%.

Progress Software Corporation declared that its board has approved a stock repurchase program on Wednesday, September 27th that permits the company to buyback $159.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

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PRGS has been the topic of several recent analyst reports. Zacks Investment Research upgraded Progress Software Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Friday, September 22nd. BidaskClub upgraded Progress Software Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Benchmark Co. reiterated a “buy” rating and issued a $42.00 price target (up from $34.00) on shares of Progress Software Corporation in a report on Wednesday, September 13th. Finally, Wedbush reiterated a “neutral” rating and issued a $32.00 price target on shares of Progress Software Corporation in a report on Monday, September 18th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Progress Software Corporation presently has an average rating of “Hold” and a consensus target price of $37.50.

About Progress Software Corporation

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

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