16,511 Shares in Progress Software Co. (PRGS) Acquired by Quantbot Technologies LP

16,511 Shares in Progress Software Co. (PRGS) Acquired by Quantbot Technologies LP

Several other hedge funds and other institutional investors have also recently made changes to their positions in PRGS. Dimensional Fund Advisors LP increased its position in shares of Progress Software by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,204,172 shares of the software maker’s stock valued at $70,380,000 after buying an additional 79,151 shares during the period. Fiduciary Management Inc. WI increased its position in shares of Progress Software by 3.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,740,602 shares of the software maker’s stock valued at $55,577,000 after buying an additional 52,947 shares during the period. State Street Corp increased its position in shares of Progress Software by 9.1% in the fourth quarter. State Street Corp now owns 1,159,343 shares of the software maker’s stock valued at $37,010,000 after buying an additional 96,939 shares during the period. Fisher Asset Management LLC increased its position in shares of Progress Software by 1.4% in the first quarter. Fisher Asset Management LLC now owns 912,529 shares of the software maker’s stock valued at $26,509,000 after buying an additional 12,943 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Progress Software by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 782,074 shares of the software maker’s stock valued at $22,720,000 after buying an additional 39,044 shares during the period. Institutional investors and hedge funds own 92.80% of the company’s stock.

Quantbot Technologies LP bought a new stake in shares of Progress Software Co. (NASDAQ:PRGS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,511 shares of the software maker’s stock, valued at approximately $479,000.

Progress Software Co. (PRGS) opened at 29.20 on Thursday. The company’s market capitalization is $1.40 billion. Progress Software Co. has a 1-year low of $24.20 and a 1-year high of $32.47. The firm’s 50-day moving average is $29.58 and its 200-day moving average is $29.60.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Wednesday, March 29th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08. Progress Software had a positive return on equity of 13.46% and a negative net margin of 13.75%. The company had revenue of $91.20 million for the quarter, compared to analysts’ expectations of $87.48 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 1.1% compared to the same quarter last year. Equities research analysts predict that Progress Software Co. will post $1.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Tuesday, May 30th. Progress Software’s dividend payout ratio is currently -42.73%.

Several research analysts have recently weighed in on PRGS shares. Wedbush upped their target price on shares of Progress Software from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, March 30th. Zacks Investment Research downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a research note on Wednesday, March 22nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.20.

About Progress Software

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PRGS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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