MUFG Securities EMEA plc Boosts Holdings in Progress Software Corp (PRGS)

MUFG Securities EMEA plc boosted its position in shares of Progress Software Corp (NASDAQ:PRGS) by 246.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,600 shares of the software maker’s stock after buying an additional 70,100 shares during the quarter. MUFG Securities EMEA plc’s holdings in Progress Software were worth $3,499,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Captrust Financial Advisors lifted its holdings in Progress Software by 162.4% during the 4th quarter. Captrust Financial Advisors now owns 992 shares of the software maker’s stock worth $35,000 after buying an additional 614 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Progress Software by 34.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,707 shares of the software maker’s stock worth $61,000 after buying an additional 438 shares in the last quarter. Bank of Montreal Can lifted its holdings in Progress Software by 6.7% during the 4th quarter. Bank of Montreal Can now owns 4,727 shares of the software maker’s stock worth $168,000 after buying an additional 297 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Progress Software by 189.0% during the 3rd quarter. Pacer Advisors Inc. now owns 6,188 shares of the software maker’s stock worth $218,000 after buying an additional 4,047 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Progress Software during the 4th quarter worth $248,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PRGS stock opened at $45.20 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.19. The firm has a market capitalization of $2.00 billion, a PE ratio of 21.22 and a beta of 0.71. Progress Software Corp has a twelve month low of $30.23 and a twelve month high of $47.60.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Thursday, March 28th. The software maker reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.08). The company had revenue of $89.50 million during the quarter, compared to analyst estimates of $87.64 million. Progress Software had a net margin of 15.27% and a return on equity of 30.55%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.54 EPS. On average, analysts expect that Progress Software Corp will post 1.98 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, February 28th. Progress Software’s dividend payout ratio (DPR) is currently 29.11%.

Several research analysts have issued reports on PRGS shares. ValuEngine raised Progress Software from a “sell” rating to a “hold” rating in a report on Thursday, December 6th. Zacks Investment Research downgraded Progress Software from a “hold” rating to a “sell” rating in a report on Friday, January 25th. Finally, Wedbush upped their price objective on Progress Software from $36.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.00.

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Progress Software Profile

Progress Software Corporation develops business applications worldwide. The company operates in three segments: OpenEdge, Data Connectivity and Integration, and Application Development and Deployment. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities; Progress Kinvey, a platform for building enterprise applications; NativeScript, an open-source application development platform; and DataRPM, a cognitive predictive maintenance solution for industrial IoT.

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

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