Progress Software Corp (NASDAQ:PRGS) Holdings Reduced by Dupont Capital Management Corp

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Dupont Capital Management Corp decreased its position in Progress Software Corp (NASDAQ:PRGS) by 43.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 16,426 shares of the software maker’s stock after selling 12,397 shares during the period. Dupont Capital Management Corp’s holdings in Progress Software were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strs Ohio grew its position in Progress Software by 3.5% in the 2nd quarter. Strs Ohio now owns 23,700 shares of the software maker’s stock worth $918,000 after purchasing an additional 800 shares during the last quarter. Boston Trust Walden Corp grew its position in Progress Software by 24.0% in the 2nd quarter. Boston Trust Walden Corp now owns 956,903 shares of the software maker’s stock worth $37,080,000 after purchasing an additional 185,236 shares during the last quarter. XTX Markets LLC bought a new position in Progress Software in the 2nd quarter worth about $206,000. First Trust Advisors LP lifted its stake in shares of Progress Software by 29.8% in the 2nd quarter. First Trust Advisors LP now owns 40,086 shares of the software maker’s stock worth $1,553,000 after acquiring an additional 9,197 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Progress Software in the 2nd quarter worth approximately $507,000. Hedge funds and other institutional investors own 93.71% of the company’s stock.

A number of brokerages have recently weighed in on PRGS. Benchmark upped their price target on shares of Progress Software from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. TheStreet raised shares of Progress Software from a “c+” rating to a “b” rating in a research note on Tuesday, May 5th. Zacks Investment Research raised shares of Progress Software from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Friday, July 3rd. BidaskClub lowered shares of Progress Software from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. Finally, ValuEngine raised shares of Progress Software from a “sell” rating to a “hold” rating in a research note on Friday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Progress Software currently has a consensus rating of “Buy” and a consensus price target of $45.25.

PRGS stock opened at $34.86 on Friday. Progress Software Corp has a 12 month low of $28.09 and a 12 month high of $52.50. The firm has a market cap of $1.56 billion, a PE ratio of 34.18 and a beta of 1.11. The firm has a 50 day simple moving average of $36.89 and a 200 day simple moving average of $38.66. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.29 and a quick ratio of 1.29.

Progress Software (NASDAQ:PRGS) last released its earnings results on Thursday, June 25th. The software maker reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). Progress Software had a net margin of 10.81% and a return on equity of 34.66%. The business had revenue of $102.51 million for the quarter, compared to analyst estimates of $99.17 million. During the same period in the prior year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Progress Software Corp will post 2.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Monday, August 31st. Progress Software’s dividend payout ratio is presently 28.82%.

About Progress Software

Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.

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

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