EMC Capital Management Has $262,000 Holdings in Progress Software Co. (NASDAQ:PRGS)

EMC Capital Management lessened its holdings in shares of Progress Software Co. (NASDAQ:PRGSFree Report) by 81.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,984 shares of the software maker’s stock after selling 22,528 shares during the period. EMC Capital Management’s holdings in Progress Software were worth $262,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Progress Software by 47.9% in the third quarter. Assenagon Asset Management S.A. now owns 44,652 shares of the software maker’s stock valued at $2,348,000 after buying an additional 14,470 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Progress Software by 13.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,292 shares of the software maker’s stock valued at $699,000 after buying an additional 1,616 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in Progress Software in the third quarter valued at about $18,751,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Progress Software by 14.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,279 shares of the software maker’s stock valued at $1,119,000 after buying an additional 2,621 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in Progress Software in the third quarter valued at about $1,315,000.

Progress Software Trading Down 0.1 %

NASDAQ:PRGS traded down $0.06 during mid-day trading on Monday, hitting $57.08. The company had a trading volume of 13,553 shares, compared to its average volume of 379,368. Progress Software Co. has a fifty-two week low of $49.02 and a fifty-two week high of $62.34. The business’s fifty day moving average is $55.43 and its two-hundred day moving average is $55.59. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $2.50 billion, a P/E ratio of 36.63, a P/E/G ratio of 7.52 and a beta of 0.98.

Progress Software (NASDAQ:PRGSGet Free Report) last released its earnings results on Tuesday, January 16th. The software maker reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.11. Progress Software had a return on equity of 37.42% and a net margin of 10.11%. The firm had revenue of $177.52 million for the quarter, compared to analyst estimates of $174.12 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that Progress Software Co. will post 3.8 earnings per share for the current year.

Progress Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be issued a $0.175 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.70 annualized dividend and a dividend yield of 1.23%. Progress Software’s dividend payout ratio (DPR) is currently 44.87%.

Insiders Place Their Bets

In other Progress Software news, CFO Anthony Folger sold 7,500 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.41, for a total value of $430,575.00. Following the completion of the sale, the chief financial officer now directly owns 37,046 shares in the company, valued at $2,126,810.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Progress Software news, CFO Anthony Folger sold 7,500 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.41, for a total value of $430,575.00. Following the completion of the sale, the chief financial officer now directly owns 37,046 shares in the company, valued at $2,126,810.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Francis Kane sold 5,000 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $57.37, for a total value of $286,850.00. Following the transaction, the director now owns 62,110 shares of the company’s stock, valued at $3,563,250.70. The disclosure for this sale can be found here. Insiders sold 83,244 shares of company stock worth $4,724,965 over the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

About Progress Software

(Free Report)

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, a flexible application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.

See Also

Want to see what other hedge funds are holding PRGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progress Software Co. (NASDAQ:PRGSFree Report).

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

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