Fisher Asset Management LLC reduced its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 911,342 shares of the software maker’s stock after selling 1,187 shares during the period. Fisher Asset Management LLC owned 1.89% of Progress Software Corporation worth $28,151,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Progress Software Corporation by 53,713.4% in the first quarter. BlackRock Inc. now owns 6,118,048 shares of the software maker’s stock valued at $177,730,000 after buying an additional 6,106,679 shares during the period. JPMorgan Chase & Co. raised its position in Progress Software Corporation by 113.2% in the first quarter. JPMorgan Chase & Co. now owns 1,474,493 shares of the software maker’s stock valued at $42,834,000 after buying an additional 782,906 shares during the period. Norges Bank acquired a new stake in shares of Progress Software Corporation during the fourth quarter worth about $19,052,000. Denver Investment Advisors LLC acquired a new stake in shares of Progress Software Corporation during the first quarter worth about $12,307,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Progress Software Corporation by 64.4% in the first quarter. Ameriprise Financial Inc. now owns 609,288 shares of the software maker’s stock worth $17,698,000 after buying an additional 238,716 shares during the last quarter. 91.31% of the stock is currently owned by institutional investors.
Progress Software Corporation (NASDAQ:PRGS) traded up 2.58% during trading on Friday, reaching $32.23. The company had a trading volume of 1,029,989 shares. The firm has a 50-day moving average price of $31.42 and a 200 day moving average price of $29.68. Progress Software Corporation has a 12-month low of $25.55 and a 12-month high of $32.53. The stock’s market cap is $1.56 billion.
Progress Software Corporation (NASDAQ:PRGS) last released its earnings results on Wednesday, June 28th. The software maker reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. The firm 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%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. Equities research analysts predict that Progress Software Corporation will post $1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Wednesday, August 30th.
A number of brokerages have recently issued reports on PRGS. BidaskClub lowered Progress Software Corporation from a “buy” rating to a “hold” rating in a research report 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 target price on the stock in a research report on Wednesday, July 5th. Finally, TheStreet raised Progress Software Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, June 28th. Six investment 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 stock. Progress Software Corporation has a consensus rating of “Hold” and a consensus 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.
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