Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Jump Financial LLC

Jump Financial LLC lifted its stake in Progress Software Co. (NASDAQ:PRGSFree Report) by 28.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,647 shares of the software maker’s stock after acquiring an additional 1,941 shares during the period. Jump Financial LLC’s holdings in Progress Software were worth $455,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in shares of Progress Software by 47.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 44,652 shares of the software maker’s stock valued at $2,348,000 after buying an additional 14,470 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Progress Software by 13.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,292 shares of the software maker’s stock valued at $699,000 after buying an additional 1,616 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Progress Software in the 3rd quarter valued at $18,751,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Progress Software by 14.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,279 shares of the software maker’s stock valued at $1,119,000 after buying an additional 2,621 shares during the last quarter. Finally, Illinois Municipal Retirement Fund purchased a new position in shares of Progress Software in the 3rd quarter valued at $1,315,000.

Progress Software Stock Down 0.4 %

Shares of NASDAQ:PRGS opened at $57.14 on Friday. The stock has a market cap of $2.51 billion, a P/E ratio of 36.63, a P/E/G ratio of 7.55 and a beta of 0.98. The firm has a fifty day moving average price of $55.43 and a 200 day moving average price of $55.62. 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 Co. has a 1-year low of $49.02 and a 1-year high of $62.34.

Progress Software (NASDAQ:PRGSGet Free Report) last issued its quarterly earnings results 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. The firm had revenue of $177.52 million during the quarter, compared to analysts’ expectations of $174.12 million. Progress Software had a net margin of 10.11% and a return on equity of 37.42%. Progress Software’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. Sell-side analysts predict that Progress Software Co. will post 3.8 EPS for the current year.

Progress Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, February 29th. Progress Software’s dividend payout ratio (DPR) is presently 44.87%.

Insider Transactions at Progress Software

In other news, EVP Sundar Subramanian sold 2,475 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $57.38, for a total value of $142,015.50. Following the completion of the sale, the executive vice president now owns 21,198 shares in the company, valued at approximately $1,216,341.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Ian Pitt sold 3,222 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $53.51, for a total value of $172,409.22. Following the completion of the transaction, the insider now owns 584 shares in the company, valued at approximately $31,249.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sundar Subramanian sold 2,475 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $57.38, for a total transaction of $142,015.50. Following the transaction, the executive vice president now owns 21,198 shares of the company’s stock, valued at $1,216,341.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,244 shares of company stock worth $4,724,965. Company insiders own 3.40% of the company’s stock.

About Progress Software

(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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