Progress Software Corporation (PRGS) Holdings Lifted by Capital Fund Management S.A.

Capital Fund Management S.A. lifted its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 147.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,600 shares of the software maker’s stock after buying an additional 54,600 shares during the period. Capital Fund Management S.A. owned approximately 0.19% of Progress Software Corporation worth $2,830,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PRGS. Bank of Montreal Can increased its holdings in shares of Progress Software Corporation by 25.3% during the 1st quarter. Bank of Montreal Can now owns 4,049 shares of the software maker’s stock worth $117,000 after buying an additional 818 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Progress Software Corporation by 2.1% during the 1st quarter. Louisiana State Employees Retirement System now owns 19,900 shares of the software maker’s stock worth $578,000 after buying an additional 400 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Progress Software Corporation during the 1st quarter worth $560,000. Wells Fargo & Company MN increased its holdings in shares of Progress Software Corporation by 18.4% during the 1st quarter. Wells Fargo & Company MN now owns 621,843 shares of the software maker’s stock worth $18,057,000 after buying an additional 96,785 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Progress Software Corporation by 7.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 69,911 shares of the software maker’s stock worth $2,029,000 after buying an additional 5,085 shares during the last quarter. Institutional investors and hedge funds own 91.61% of the company’s stock.

A number of analysts have recently commented on the company. Benchmark Co. restated a “buy” rating and set a $42.00 price objective (up from $34.00) on shares of Progress Software Corporation in a report on Wednesday. Zacks Investment Research downgraded Progress Software Corporation from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub upgraded Progress Software Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Finally, TheStreet upgraded Progress Software Corporation from a “c+” rating to a “b” rating in a report on Wednesday, June 28th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $34.75.

Shares of Progress Software Corporation (NASDAQ:PRGS) opened at 36.38 on Wednesday. The firm’s market capitalization is $1.76 billion. Progress Software Corporation has a 12-month low of $25.55 and a 12-month high of $36.54. The stock’s 50 day moving average price is $32.59 and its 200-day moving average price is $30.40.

Progress Software Corporation (NASDAQ:PRGS) last issued its earnings results on Wednesday, June 28th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $93.20 million during the quarter, compared to analyst estimates of $91.53 million. Progress Software Corporation had a negative net margin of 13.96% and a positive return on equity of 18.10%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. On average, equities analysts expect that Progress Software Corporation will post $1.77 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Progress Software Corporation’s previous quarterly dividend of $0.13. Progress Software Corporation’s dividend payout ratio (DPR) is -42.74%.

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Progress Software Corporation Profile

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.

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Institutional Ownership by Quarter for Progress Software Corporation (NASDAQ:PRGS)

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