Swiss National Bank Buys 500 Shares of Progress Software Co. (NASDAQ:PRGS)

Swiss National Bank increased its stake in Progress Software Co. (NASDAQ:PRGSGet Rating) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 104,100 shares of the software maker’s stock after purchasing an additional 500 shares during the period. Swiss National Bank owned approximately 0.24% of Progress Software worth $4,716,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Progress Software in the first quarter valued at about $108,000. Simplex Trading LLC grew its position in Progress Software by 139.2% in the first quarter. Simplex Trading LLC now owns 2,383 shares of the software maker’s stock valued at $112,000 after acquiring an additional 8,469 shares during the last quarter. Penserra Capital Management LLC grew its position in Progress Software by 50.0% in the first quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $123,000 after acquiring an additional 874 shares during the last quarter. Captrust Financial Advisors grew its position in Progress Software by 75.1% in the first quarter. Captrust Financial Advisors now owns 3,525 shares of the software maker’s stock valued at $166,000 after acquiring an additional 1,512 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in Progress Software in the second quarter valued at about $182,000. Institutional investors own 98.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Progress Software in a research report on Friday, September 9th. They issued a “hold” rating and a $52.00 target price on the stock. Guggenheim began coverage on Progress Software in a research note on Friday, August 12th. They set a “buy” rating and a $60.00 price target on the stock. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 3rd. Finally, Citigroup cut their price target on Progress Software from $52.00 to $46.00 in a research note on Thursday, September 29th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.75.

Progress Software Price Performance

Progress Software stock opened at $52.85 on Friday. The stock’s 50 day moving average is $47.49 and its 200 day moving average is $47.35. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $2.27 billion, a P/E ratio of 27.10, a P/E/G ratio of 7.59 and a beta of 1.05. Progress Software Co. has a one year low of $40.33 and a one year high of $53.14.

Progress Software (NASDAQ:PRGSGet Rating) last posted its quarterly earnings data on Tuesday, September 27th. The software maker reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. The company had revenue of $153.06 million for the quarter, compared to analyst estimates of $148.10 million. Progress Software had a return on equity of 39.31% and a net margin of 14.75%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 earnings per share. As a group, research analysts expect that Progress Software Co. will post 3.46 EPS for the current year.

Progress Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, November 30th. Progress Software’s dividend payout ratio is currently 35.90%.

Insider Buying and Selling

In other Progress Software news, EVP Jeremy Segal sold 1,258 shares of Progress Software stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $43.82, for a total value of $55,125.56. Following the completion of the sale, the executive vice president now directly owns 636 shares in the company, valued at $27,869.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Progress Software news, CEO Yogesh K. Gupta sold 5,000 shares of Progress Software stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $51.32, for a total value of $256,600.00. Following the completion of the sale, the chief executive officer now directly owns 45,000 shares in the company, valued at $2,309,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeremy Segal sold 1,258 shares of Progress Software stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $43.82, for a total value of $55,125.56. Following the completion of the sale, the executive vice president now owns 636 shares of the company’s stock, valued at $27,869.52. The disclosure for this sale can be found here. Insiders have sold a total of 23,806 shares of company stock valued at $1,139,740 over the last ninety days. 3.20% of the stock is owned by company insiders.

Progress Software Profile

(Get Rating)

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities.

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

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