56,369 Shares in Progress Software Corporation (PRGS) Purchased by Globeflex Capital L P

Globeflex Capital L P purchased a new position in shares of Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 56,369 shares of the software maker’s stock, valued at approximately $1,741,000. Globeflex Capital L P owned approximately 0.12% of Progress Software Corporation at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its position in shares of Progress Software Corporation by 0.6% during the 1st quarter. US Bancorp DE now owns 24,269 shares of the software maker’s stock worth $706,000 after buying an additional 143 shares in the last quarter. Sei Investments Co. grew its position in shares of Progress Software Corporation by 2.9% during 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 in the last quarter. Stanley Laman Group Ltd. grew its position in shares of Progress Software Corporation by 1.7% during the 2nd 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 in the last quarter. Arizona State Retirement System grew its position in shares of Progress Software Corporation by 1.6% during the 1st quarter. Arizona State Retirement System now owns 25,429 shares of the software maker’s stock worth $739,000 after buying an additional 400 shares in the last quarter. Finally, Pacad Investment Ltd. grew its position in shares of Progress Software Corporation by 5.8% during the 2nd quarter. Pacad Investment Ltd. now owns 7,300 shares of the software maker’s stock worth $225,000 after buying an additional 400 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of Progress Software Corporation (PRGS) traded up 0.65% during midday trading on Friday, reaching $37.29. The company had a trading volume of 325,408 shares. The company’s market capitalization is $1.80 billion. Progress Software Corporation has a 52 week low of $25.55 and a 52 week high of $38.51. The company’s 50 day moving average price is $33.44 and its 200-day moving average price is $30.75.

Progress Software Corporation (NASDAQ:PRGS) last issued its quarterly earnings results on Wednesday, June 28th. The software maker reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.05. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. The company had revenue of $93.20 million for the quarter, compared to the consensus estimate of $91.53 million. During the same quarter in the prior year, the business earned $0.33 EPS. Progress Software Corporation’s revenue was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Progress Software Corporation will post $1.80 earnings per share for the current fiscal year.

The business also recently declared 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. The ex-dividend date is Thursday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.50%. Progress Software Corporation’s dividend payout ratio is -42.74%.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Progress Software Corporation from a “buy” rating to a “hold” rating in a research report on Saturday. Wedbush reissued a “neutral” rating and set a $32.00 price target on shares of Progress Software Corporation in a research report on Monday, September 18th. Benchmark Co. reissued a “buy” rating and set a $42.00 price target (up previously from $34.00) on shares of Progress Software Corporation in a research report on Wednesday, September 13th. BidaskClub raised Progress Software Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Finally, TheStreet raised Progress Software Corporation from a “c+” rating to a “b” rating in a research report on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Progress Software Corporation presently has an average rating of “Hold” and an average target price of $37.50.

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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.

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

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