Progress Software Co. (NASDAQ:PRGS) Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC lessened its stake in shares of Progress Software Co. (NASDAQ:PRGSFree Report) by 21.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,138 shares of the software maker’s stock after selling 1,968 shares during the quarter. Great Lakes Advisors LLC’s holdings in Progress Software were worth $375,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PRGS. Assenagon Asset Management S.A. lifted its stake in Progress Software by 47.9% during the third quarter. Assenagon Asset Management S.A. now owns 44,652 shares of the software maker’s stock worth $2,348,000 after purchasing an additional 14,470 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Progress Software by 13.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,292 shares of the software maker’s stock valued at $699,000 after acquiring an additional 1,616 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Progress Software during the third quarter worth $18,751,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Progress Software by 14.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,279 shares of the software maker’s stock worth $1,119,000 after purchasing an additional 2,621 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in Progress Software in the third quarter valued at about $1,315,000.

Insider Activity

In other Progress Software news, CAO Domenic Lococo sold 4,503 shares of the stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $57.00, for a total transaction of $256,671.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,900 shares of the company’s stock, valued at $165,300. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Progress Software news, CAO Domenic Lococo sold 4,503 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $57.00, for a total transaction of $256,671.00. Following the sale, the chief accounting officer now owns 2,900 shares in the company, valued at $165,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yogesh K. Gupta sold 40,174 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $56.95, for a total value of $2,287,909.30. Following the completion of the sale, the chief executive officer now directly owns 186,558 shares in the company, valued at $10,624,478.10. The disclosure for this sale can be found here. Insiders have sold 80,769 shares of company stock valued at $4,582,949 in the last ninety days. 3.40% of the stock is owned by company insiders.

Progress Software Trading Up 1.4 %

NASDAQ PRGS opened at $57.45 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $2.52 billion, a P/E ratio of 36.83, a P/E/G ratio of 7.46 and a beta of 0.98. Progress Software Co. has a one year low of $49.02 and a one year high of $62.34. The stock’s 50-day moving average is $55.26 and its 200-day moving average is $55.62.

Progress Software (NASDAQ:PRGSGet Free Report) last issued its earnings results on Tuesday, January 16th. The software maker reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. The company had revenue of $177.52 million during the quarter, compared to the consensus estimate of $174.12 million. Progress Software had a return on equity of 37.42% and a net margin of 10.11%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 EPS. Sell-side analysts anticipate that Progress Software Co. will post 3.8 earnings per share for the current fiscal year.

Progress Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a $0.175 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.22%. Progress Software’s dividend payout ratio (DPR) is presently 44.87%.

Progress Software Company Profile

(Free Report)

Progress Software Corporation develops, deploys, and manages business applications. 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, a flexible 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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