Banco BTG Pactual S.A. acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,500 shares of the software maker’s stock, valued at approximately $218,000.
Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can increased its stake in shares of Progress Software Corporation by 25.3% in the first quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock valued at $117,000 after buying an additional 818 shares during the period. Elkfork Partners LLC bought a new stake in shares of Progress Software Corporation during the fourth quarter valued at approximately $136,000. Ameritas Investment Partners Inc. bought a new stake in shares of Progress Software Corporation during the first quarter valued at approximately $126,000. State of Alaska Department of Revenue increased its stake in shares of Progress Software Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 5,380 shares of the software maker’s stock valued at $156,000 after buying an additional 130 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Progress Software Corporation by 2.9% in the first quarter. Sei Investments Co. now owns 7,573 shares of the software maker’s stock valued at $220,000 after buying an additional 215 shares during the period. 91.57% of the stock is owned by hedge funds and other institutional investors.
Progress Software Corporation (NASDAQ:PRGS) traded up 0.220% during mid-day trading on Tuesday, reaching $29.625. The company’s stock had a trading volume of 68,469 shares. Progress Software Corporation has a 12-month low of $24.20 and a 12-month high of $32.47. The firm’s market cap is $1.42 billion. The company has a 50-day moving average price of $29.50 and a 200-day moving average price of $29.58.
Progress Software Corporation (NASDAQ:PRGS) last posted its earnings results on Wednesday, March 29th. The software maker reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. The company had revenue of $91.20 million during the quarter, compared to the consensus estimate of $87.48 million. Progress Software Corporation had a negative net margin of 14.62% and a positive return on equity of 12.29%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 earnings per share. On average, equities research analysts expect that Progress Software Corporation will post $1.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, May 30th. This represents a $0.50 dividend on an annualized basis and a yield of 1.69%. Progress Software Corporation’s dividend payout ratio is presently -42.73%.
TRADEMARK VIOLATION WARNING: This piece was posted by Stock Observer and is the sole property of of Stock Observer. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.thestockobserver.com/2017/06/20/banco-btg-pactual-s-a-invests-218000-in-progress-software-co-prgs-updated-updated.html.
Several analysts have recently commented on the company. Wedbush increased their price objective on Progress Software Corporation from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, March 30th. BidaskClub downgraded Progress Software Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 9th. Finally, Zacks Investment Research downgraded Progress Software Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.25.
About Progress Software Corporation
Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.
Receive News & Ratings for Progress Software Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progress Software Corporation and related companies with MarketBeat.com's FREE daily email newsletter.