Trade Report: The Progress Software Corp. (PRGS) To Go Ex-Dividend on November 29th

The Progress Software Corp. (PRGS) To Go Ex-Dividend on November 29th

Progress Software Corp. (NASDAQ:PRGS) announced a quarterly dividend on Wednesday, September 28th. Shareholders of record on Thursday, December 1st will be paid a dividend of 0.125 per share on Thursday, December 15th. This represents a $0.50 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, November 29th.

Shares of Progress Software Corp. (NASDAQ:PRGS) opened at 29.78 on Monday. 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 PE ratio of 173.14 and a beta of 0.98. The firm’s 50-day moving average is $27.76 and its 200-day moving average is $27.65.

Progress Software Corp. (NASDAQ:PRGS) last posted its quarterly earnings results 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 net margin of 2.15% and a return on equity of 12.08%. The firm 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 company earned $0.39 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Progress Software Corp. will post $1.59 EPS for the current year.

A number of equities research analysts have recently commented on the stock. Citigroup Inc. reiterated a “neutral” rating on shares of Progress Software Corp. in a report on Saturday, October 15th. Benchmark Co. reiterated a “buy” rating and set a $31.00 price target on shares of Progress Software Corp. in a report on Tuesday, October 11th. Wedbush reiterated a “neutral” rating and set a $24.00 price target on shares of Progress Software Corp. in a report on Tuesday, October 11th. Zacks Investment Research cut shares of Progress Software Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Finally, Ladenburg Thalmann cut shares of Progress Software Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, September 13th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.33.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC boosted its position in shares of Progress Software Corp. by 198.0% in the second quarter. Citadel Advisors LLC now owns 42,935 shares of the company’s stock valued at $1,179,000 after buying an additional 28,526 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of Progress Software Corp. during the second quarter valued at approximately $252,000. University of Notre Dame du Lac increased its stake in shares of Progress Software Corp. by 40.7% in the second quarter. University of Notre Dame du Lac now owns 78,869 shares of the company’s stock valued at $2,166,000 after buying an additional 22,809 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Progress Software Corp. by 17.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 16,750 shares of the company’s stock valued at $460,000 after buying an additional 2,500 shares during the last quarter. Finally, Riverhead Capital Management LLC increased its stake in shares of Progress Software Corp. by 854.4% in the second quarter. Riverhead Capital Management LLC now owns 135,729 shares of the company’s stock valued at $11,492,000 after buying an additional 121,507 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Progress Software Corp. Company Profile

Related posts

Leave a Comment