Captrust Financial Advisors Has $35,000 Holdings in Progress Software Corp (PRGS)
Captrust Financial Advisors raised its stake in shares of Progress Software Corp (NASDAQ:PRGS) by 162.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 992 shares of the software maker’s stock after acquiring an additional 614 shares during the period. Captrust Financial Advisors’ holdings in Progress Software were worth $35,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Progress Software by 34.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,707 shares of the software maker’s stock valued at $61,000 after acquiring an additional 438 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Progress Software by 6.7% during the 4th quarter. Bank of Montreal Can now owns 4,727 shares of the software maker’s stock worth $168,000 after buying an additional 297 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Progress Software by 189.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,188 shares of the software maker’s stock worth $218,000 after buying an additional 4,047 shares in the last quarter. Piedmont Investment Advisors Inc. raised its stake in shares of Progress Software by 2.9% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 10,820 shares of the software maker’s stock worth $384,000 after buying an additional 309 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Progress Software during the 4th quarter worth approximately $567,000. 92.74% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on PRGS shares. ValuEngine raised Progress Software from a “sell” rating to a “hold” rating in a research note on Thursday, December 6th. Zacks Investment Research downgraded Progress Software from a “buy” rating to a “hold” rating in a research note on Thursday, November 29th. Finally, BidaskClub raised Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.00.
Progress Software (NASDAQ:PRGS) last issued its earnings results on Thursday, January 17th. The software maker reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The business had revenue of $111.50 million during the quarter, compared to the consensus estimate of $109.35 million. Progress Software had a return on equity of 30.67% and a net margin of 15.99%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. On average, equities research analysts expect that Progress Software Corp will post 1.98 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Thursday, February 28th. Progress Software’s dividend payout ratio is currently 29.11%.
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About Progress Software
Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.
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