Progress Software Co. (NASDAQ:PRGS) EVP Sundar Subramanian Sells 2,475 Shares

Progress Software Co. (NASDAQ:PRGSGet Free Report) EVP Sundar Subramanian sold 2,475 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $57.38, for a total value of $142,015.50. Following the sale, the executive vice president now owns 21,198 shares of the company’s stock, valued at approximately $1,216,341.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Sundar Subramanian also recently made the following trade(s):

  • On Monday, January 8th, Sundar Subramanian sold 750 shares of Progress Software stock. The stock was sold at an average price of $52.12, for a total value of $39,090.00.
  • On Friday, December 1st, Sundar Subramanian sold 2,119 shares of Progress Software stock. The stock was sold at an average price of $53.64, for a total value of $113,663.16.
  • On Wednesday, November 15th, Sundar Subramanian sold 1,704 shares of Progress Software stock. The stock was sold at an average price of $53.88, for a total value of $91,811.52.

Progress Software Trading Down 0.4 %

Shares of PRGS stock opened at $57.14 on Friday. The business’s fifty day moving average price is $55.43 and its 200 day moving average price is $55.63. Progress Software Co. has a 1-year low of $49.02 and a 1-year high of $62.34. The firm has a market capitalization of $2.51 billion, a PE ratio of 36.63, a P/E/G ratio of 7.55 and a beta of 0.98. The company has a debt-to-equity ratio of 1.55, a current ratio of 0.94 and a quick ratio of 0.94.

Progress Software (NASDAQ:PRGSGet Free Report) last announced its quarterly earnings data on Tuesday, January 16th. The software maker reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. Progress Software had a return on equity of 37.42% and a net margin of 10.11%. The firm had revenue of $177.52 million for the quarter, compared to analyst estimates of $174.12 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Progress Software’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, sell-side analysts forecast that Progress Software Co. will post 3.8 EPS for the current fiscal year.

Progress Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, February 29th. Progress Software’s dividend payout ratio is presently 44.87%.

Institutional Trading of Progress Software

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Progress Software by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,496,755 shares of the software maker’s stock valued at $289,019,000 after purchasing an additional 123,157 shares during the last quarter. Boston Trust Walden Corp grew its holdings in Progress Software by 2.0% in the fourth quarter. Boston Trust Walden Corp now owns 1,701,094 shares of the software maker’s stock valued at $92,369,000 after purchasing an additional 33,289 shares during the last quarter. State Street Corp grew its holdings in Progress Software by 3.0% in the first quarter. State Street Corp now owns 1,459,750 shares of the software maker’s stock valued at $68,740,000 after purchasing an additional 42,824 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Progress Software by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,359,246 shares of the software maker’s stock valued at $73,807,000 after purchasing an additional 23,097 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Progress Software by 25.4% in the first quarter. Wellington Management Group LLP now owns 1,236,034 shares of the software maker’s stock valued at $58,204,000 after purchasing an additional 250,733 shares during the last quarter.

About Progress Software

(Get 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.

Further Reading

Insider Buying and Selling by Quarter for Progress Software (NASDAQ:PRGS)

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