Progress Software Corp (NASDAQ:PRGS) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $39.00.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Progress Software from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub upgraded Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 27th. Wedbush restated a “neutral” rating and set a $38.00 price objective on shares of Progress Software in a research report on Friday, November 16th. Finally, ValuEngine downgraded Progress Software from a “hold” rating to a “sell” rating in a research report on Friday, September 28th.

In other news, insider Dimitre Taslakov sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $35.00, for a total transaction of $70,000.00. Following the transaction, the insider now owns 43,431 shares of the company’s stock, valued at $1,520,085. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.50% of the company’s stock.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio grew its stake in shares of Progress Software by 7.1% during the second quarter. Strs Ohio now owns 30,000 shares of the software maker’s stock valued at $1,164,000 after buying an additional 2,000 shares during the last quarter. Smith Asset Management Group LP grew its stake in Progress Software by 3.3% in the second quarter. Smith Asset Management Group LP now owns 63,673 shares of the software maker’s stock worth $2,472,000 after purchasing an additional 2,020 shares in the last quarter. BlueMountain Capital Management LLC grew its stake in Progress Software by 9.0% in the second quarter. BlueMountain Capital Management LLC now owns 24,588 shares of the software maker’s stock worth $955,000 after purchasing an additional 2,030 shares in the last quarter. Trexquant Investment LP grew its stake in Progress Software by 8.3% in the second quarter. Trexquant Investment LP now owns 38,870 shares of the software maker’s stock worth $1,509,000 after purchasing an additional 2,979 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Progress Software by 10.4% in the second quarter. Sei Investments Co. now owns 35,032 shares of the software maker’s stock worth $1,360,000 after purchasing an additional 3,295 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

PRGS stock traded up $0.20 during midday trading on Thursday, reaching $35.16. 537,028 shares of the company traded hands, compared to its average volume of 303,874. Progress Software has a 52-week low of $30.23 and a 52-week high of $53.60. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $1.58 billion, a PE ratio of 17.07 and a beta of 0.88.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Thursday, September 27th. The software maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Progress Software had a return on equity of 28.94% and a net margin of 15.30%. The business had revenue of $95.79 million for the quarter, compared to the consensus estimate of $96.98 million. During the same period in the prior year, the business posted $0.48 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts expect that Progress Software will post 2.14 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.155 per share. This is a boost from Progress Software’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, November 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.76%. Progress Software’s dividend payout ratio is currently 32.56%.

Progress Software Company Profile

Progress Software Corporation provides software solutions for various industries worldwide. It 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; DataRPM, which provides maintenance solutions for industrial IoT; and Kinvey that offers cloud backend as a service technology.

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