US Bancorp DE Raises Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

US Bancorp DE boosted its holdings in shares of Progress Software Co. (NASDAQ:PRGSFree Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,720 shares of the software maker’s stock after purchasing an additional 404 shares during the quarter. US Bancorp DE’s holdings in Progress Software were worth $1,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of Progress Software in the fourth quarter worth $28,000. Headlands Technologies LLC acquired a new stake in shares of Progress Software in the 3rd quarter valued at about $40,000. Orion Capital Management LLC bought a new position in shares of Progress Software during the third quarter worth about $41,000. Clear Street Markets LLC acquired a new position in Progress Software in the third quarter worth about $50,000. Finally, Blue Trust Inc. increased its holdings in Progress Software by 24.1% in the fourth quarter. Blue Trust Inc. now owns 1,231 shares of the software maker’s stock valued at $65,000 after buying an additional 239 shares during the last quarter.

Insider Buying and Selling

In other Progress Software news, EVP John Ainsworth sold 30,631 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $51.03, for a total transaction of $1,563,099.93. Following the transaction, the executive vice president now owns 32,002 shares of the company’s stock, valued at approximately $1,633,062.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Progress Software news, Director David Krall sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $51.00, for a total value of $1,020,000.00. Following the completion of the sale, the director now directly owns 86,641 shares in the company, valued at $4,418,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Ainsworth sold 30,631 shares of Progress Software stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $51.03, for a total value of $1,563,099.93. Following the transaction, the executive vice president now owns 32,002 shares in the company, valued at $1,633,062.06. The disclosure for this sale can be found here. Insiders sold 51,994 shares of company stock valued at $2,651,708 over the last 90 days. 3.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PRGS has been the subject of several research reports. StockNews.com upgraded Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 10th. Wedbush boosted their target price on shares of Progress Software from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Oppenheimer restated an “outperform” rating and issued a $66.00 price target on shares of Progress Software in a research report on Wednesday, March 27th. DA Davidson began coverage on shares of Progress Software in a research report on Thursday, March 28th. They set a “buy” rating and a $65.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Progress Software from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Progress Software currently has an average rating of “Buy” and an average price target of $64.60.

Read Our Latest Stock Analysis on Progress Software

Progress Software Trading Down 0.8 %

Shares of NASDAQ:PRGS opened at $50.22 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $51.04 and its 200 day moving average price is $53.45. The company has a market cap of $2.17 billion, a PE ratio of 32.61, a P/E/G ratio of 6.59 and a beta of 0.93. Progress Software Co. has a fifty-two week low of $48.99 and a fifty-two week high of $62.34.

Progress Software (NASDAQ:PRGSGet Free Report) last released its quarterly earnings results on Tuesday, March 26th. The software maker reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Progress Software had a return on equity of 36.62% and a net margin of 9.67%. The company had revenue of $184.69 million for the quarter, compared to analysts’ expectations of $181.91 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that Progress Software Co. will post 3.85 earnings per share for the current year.

Progress Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Monday, June 3rd. Progress Software’s dividend payout ratio is currently 45.45%.

Progress Software Company Profile

(Free Report)

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.

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

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