Trade Report: Today, Great West Life Assurance Co. Can Sold shares of Progress Software Corp. (PRGS)

Today, Great West Life Assurance Co. Can Sold shares of Progress Software Corp. (PRGS)

Great West Life Assurance Co. Can lowered its stake in shares of Progress Software Corp. (NASDAQ:PRGS) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 66,083 shares of the company’s stock after selling 690 shares during the period. Great West Life Assurance Co. Can’s holdings in Progress Software Corp. were worth $1,797,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Progress Software Corp. by 3.1% in the second quarter. Vanguard Group Inc. now owns 3,911,746 shares of the company’s stock valued at $107,417,000 after buying an additional 116,562 shares in the last quarter. BlackRock Fund Advisors increased its position in Progress Software Corp. by 2.2% in the second quarter. BlackRock Fund Advisors now owns 3,316,697 shares of the company’s stock valued at $91,076,000 after buying an additional 72,321 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Progress Software Corp. by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,074,052 shares of the company’s stock valued at $56,949,000 after buying an additional 123,197 shares in the last quarter. State Street Corp increased its position in Progress Software Corp. by 0.8% in the second quarter. State Street Corp now owns 1,014,978 shares of the company’s stock valued at $27,868,000 after buying an additional 8,440 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Progress Software Corp. by 6.7% in the third quarter. Fisher Asset Management LLC now owns 903,311 shares of the company’s stock valued at $24,570,000 after buying an additional 57,101 shares in the last quarter. 91.55% of the stock is currently owned by hedge funds and other institutional investors.

Progress Software Corp. (NASDAQ:PRGS) traded down 0.10% during trading on Monday, hitting $29.75. The stock had a trading volume of 205,958 shares. Progress Software Corp. has a one year low of $22.01 and a one year high of $30.24. The company has a market cap of $1.45 billion, a P/E ratio of 172.97 and a beta of 0.98. The firm has a 50 day moving average of $27.83 and a 200-day moving average of $27.72.

Progress Software Corp. (NASDAQ:PRGS) last announced its quarterly earnings data on Wednesday, September 28th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.01. Progress Software Corp. had a return on equity of 12.08% and a net margin of 2.15%. The company had revenue of $102 million for the quarter, compared to analysts’ expectations of $104.72 million. During the same quarter in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts anticipate that Progress Software Corp. will post $1.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.50 dividend on an annualized basis and a yield of 1.68%.

PRGS has been the topic of several analyst reports. Zacks Investment Research downgraded Progress Software Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Ladenburg Thalmann downgraded Progress Software Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Wedbush reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Progress Software Corp. in a research report on Tuesday, October 11th. Benchmark Co. reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Progress Software Corp. in a research report on Tuesday, October 11th. Finally, Citigroup Inc. reaffirmed a “neutral” rating on shares of Progress Software Corp. in a research report on Saturday, October 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $28.33.

In related news, major shareholder Praesidium Investment Manageme sold 900,000 shares of Progress Software Corp. stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $28.11, for a total transaction of $25,299,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Progress Software Corp. Company Profile

Progress Software Corporation is a global software company. The Company offers solutions in the development, deployment and management of business applications on premise or in the cloud, on platforms or devices, to various data sources. The Company operates through three segments: OpenEdge; Data Connectivity and Integration, and Application Development and Deployment.

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