Globeflex Capital L P lifted its holdings in Progress Software Co. (NASDAQ:PRGS – Free Report) by 32.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,814 shares of the software maker’s stock after acquiring an additional 16,312 shares during the period. Globeflex Capital L P owned 0.15% of Progress Software worth $3,838,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PRGS. Ossiam purchased a new position in shares of Progress Software in the first quarter worth $862,000. Stifel Financial Corp boosted its holdings in shares of Progress Software by 5.0% during the 1st quarter. Stifel Financial Corp now owns 67,118 shares of the software maker’s stock valued at $3,856,000 after purchasing an additional 3,215 shares during the last quarter. BNP Paribas Arbitrage SNC grew its position in shares of Progress Software by 95.9% during the first quarter. BNP Paribas Arbitrage SNC now owns 66,665 shares of the software maker’s stock valued at $3,830,000 after purchasing an additional 32,632 shares in the last quarter. Boulder Hill Capital Management LP bought a new stake in shares of Progress Software in the first quarter worth about $1,185,000. Finally, HRT Financial LP boosted its stake in Progress Software by 50.0% during the first quarter. HRT Financial LP now owns 49,502 shares of the software maker’s stock valued at $2,843,000 after buying an additional 16,496 shares during the last quarter.
Progress Software Price Performance
Progress Software stock opened at $58.24 on Friday. Progress Software Co. has a 12-month low of $40.33 and a 12-month high of $62.34. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.85. The firm has a 50-day moving average price of $59.37 and a 200-day moving average price of $57.86. The firm has a market capitalization of $2.53 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 8.38 and a beta of 0.91.
Progress Software Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.175 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.70 dividend on an annualized basis and a yield of 1.20%. Progress Software’s dividend payout ratio is currently 38.04%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PRGS. Oppenheimer increased their target price on Progress Software from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, June 30th. Citigroup upped their target price on shares of Progress Software from $57.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, August 8th. Finally, StockNews.com started coverage on Progress Software in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.80.
Insider Transactions at Progress Software
In related news, insider Kathryn Kulikoski sold 2,122 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $57.87, for a total value of $122,800.14. Following the transaction, the insider now owns 5,216 shares of the company’s stock, valued at $301,849.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Kathryn Kulikoski sold 2,122 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $57.87, for a total value of $122,800.14. Following the completion of the sale, the insider now directly owns 5,216 shares of the company’s stock, valued at $301,849.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 2,513 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $58.44, for a total transaction of $146,859.72. Following the transaction, the chief financial officer now directly owns 20,098 shares in the company, valued at approximately $1,174,527.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,161 shares of company stock valued at $1,134,633. 3.40% of the stock is currently owned by company insiders.
Progress Software Company Profile
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