March 3, 2021

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O Shares Investment Advisers LLC Has $641,000 Stake in Progress Software Co. (NASDAQ:PRGS)


O Shares Investment Advisers LLC grew its holdings in Progress Software Co. (NASDAQ:PRGS) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,191 shares of the software maker’s stock after acquiring an additional 1,096 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Progress Software were worth $641,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Raymond James & Associates raised its position in Progress Software by 2.7% in the 3rd quarter. Raymond James & Associates now owns 15,039 shares of the software maker’s stock valued at $552,000 after buying an additional 389 shares during the last quarter. NorthCoast Asset Management LLC boosted its holdings in shares of Progress Software by 9.2% in the 3rd quarter. NorthCoast Asset Management LLC now owns 6,141 shares of the software maker’s stock valued at $226,000 after buying an additional 518 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Progress Software in the first quarter valued at $28,000. Swiss National Bank increased its position in Progress Software by 0.8% during the third quarter. Swiss National Bank now owns 101,500 shares of the software maker’s stock worth $3,723,000 after buying an additional 800 shares during the last quarter. Finally, Comerica Bank boosted its position in Progress Software by 1.7% during the fourth quarter. Comerica Bank now owns 48,300 shares of the software maker’s stock worth $2,027,000 after purchasing an additional 828 shares during the period. Institutional investors and hedge funds own 88.93% of the company’s stock.

A number of research analysts recently commented on PRGS shares. Wedbush upped their price target on shares of Progress Software from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 15th. Zacks Investment Research cut Progress Software from a “hold” rating to a “sell” rating in a report on Tuesday, January 19th.

NASDAQ:PRGS opened at $42.36 on Friday. Progress Software Co. has a 52 week low of $28.09 and a 52 week high of $49.23. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.41 and a current ratio of 1.41. The firm’s 50-day simple moving average is $44.00 and its 200 day simple moving average is $39.44. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 24.21 and a beta of 1.12.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Wednesday, January 13th. The software maker reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. Progress Software had a net margin of 13.12% and a return on equity of 33.98%. The firm had revenue of $129.06 million for the quarter, compared to analyst estimates of $118.77 million. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was up 4.6% compared to the same quarter last year. Sell-side analysts anticipate that Progress Software Co. will post 2.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Monday, March 1st will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Friday, February 26th. This represents a $0.70 dividend on an annualized basis and a yield of 1.65%. Progress Software’s payout ratio is 26.12%.

Progress Software Profile

Progress Software Corporation develops business applications. The company operates through 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; MOVEit that provides secure collaboration and automated file transfers of critical business information; and WhatsUp Gold, a network monitoring solution.

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



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