Jackson Creek Investment Advisors LLC cut its stake in Progress Software Co. (NASDAQ:PRGS – Get Rating) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,259 shares of the software maker’s stock after selling 1,555 shares during the period. Jackson Creek Investment Advisors LLC’s holdings in Progress Software were worth $1,074,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PRGS. Qube Research & Technologies Ltd increased its position in shares of Progress Software by 177.7% in the 4th quarter. Qube Research & Technologies Ltd now owns 40,082 shares of the software maker’s stock worth $1,935,000 after purchasing an additional 25,650 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Progress Software in the fourth quarter valued at about $1,630,000. Yousif Capital Management LLC acquired a new stake in Progress Software during the fourth quarter valued at approximately $1,931,000. Mizuho Markets Americas LLC lifted its holdings in Progress Software by 1.2% during the 4th quarter. Mizuho Markets Americas LLC now owns 445,150 shares of the software maker’s stock worth $21,487,000 after buying an additional 5,250 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Progress Software in the 4th quarter worth approximately $16,757,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.
Shares of NASDAQ PRGS opened at $45.13 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.21 and a quick ratio of 1.05. The firm has a market capitalization of $1.98 billion, a PE ratio of 25.21, a P/E/G ratio of 6.87 and a beta of 1.16. Progress Software Co. has a 1-year low of $41.68 and a 1-year high of $53.99. The business’s fifty day moving average price is $44.85 and its two-hundred day moving average price is $47.42.
Progress Software (NASDAQ:PRGS – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The software maker reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The business had revenue of $147.51 million during the quarter, compared to analyst estimates of $139.24 million. Progress Software had a net margin of 14.40% and a return on equity of 39.08%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 earnings per share. Equities research analysts expect that Progress Software Co. will post 3.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be issued a dividend of $0.175 per share. The ex-dividend date is Tuesday, May 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.55%. Progress Software’s dividend payout ratio (DPR) is presently 39.11%.
Several equities analysts recently issued reports on PRGS shares. Citigroup raised their price objective on Progress Software from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 30th. Zacks Investment Research downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a research report on Wednesday, March 23rd. Finally, StockNews.com assumed coverage on shares of Progress Software in a report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Progress Software currently has a consensus rating of “Buy” and an average target price of $55.80.
In related news, EVP Jeremy Segal sold 1,281 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $47.14, for a total value of $60,386.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.
Progress Software Profile (Get Rating)
Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities.
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