GAM Holding AG Has $1.04 Million Position in Progress Software Corp (NASDAQ:PRGS)

GAM Holding AG lifted its position in Progress Software Corp (NASDAQ:PRGS) by 108.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,531 shares of the software maker’s stock after purchasing an additional 12,217 shares during the period. GAM Holding AG owned 0.05% of Progress Software worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Captrust Financial Advisors lifted its holdings in shares of Progress Software by 162.4% during the 4th quarter. Captrust Financial Advisors now owns 992 shares of the software maker’s stock valued at $35,000 after purchasing an additional 614 shares during the last quarter. PNC Financial Services Group Inc. grew its position 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 purchasing an additional 438 shares during the period. Quantamental Technologies LLC acquired a new stake in Progress Software during the 1st quarter worth about $92,000. Bank of Montreal Can grew its position 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 purchasing an additional 297 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Progress Software during the 4th quarter worth about $248,000. Hedge funds and other institutional investors own 91.38% of the company’s stock.

PRGS traded down $2.40 during trading on Monday, reaching $41.22. The company’s stock had a trading volume of 670,639 shares, compared to its average volume of 453,520. The company has a current ratio of 1.00, a quick ratio of 1.18 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $41.90. Progress Software Corp has a 1 year low of $30.23 and a 1 year high of $47.60. The company has a market capitalization of $1.94 billion, a P/E ratio of 19.35 and a beta of 0.77.

Progress Software (NASDAQ:PRGS) last released its earnings results on Thursday, June 27th. The software maker reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.17. Progress Software had a net margin of 13.30% and a return on equity of 30.71%. The business had revenue of $103.48 million for the quarter, compared to analyst estimates of $98.20 million. During the same period last year, the company posted $0.60 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, equities analysts expect that Progress Software Corp will post 2.09 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Friday, May 31st. Progress Software’s dividend payout ratio (DPR) is presently 29.11%.

Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Saturday, March 30th. Wedbush raised their price target on shares of Progress Software from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Friday, March 29th. BidaskClub lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 26th. Zacks Investment Research lowered shares of Progress Software from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, National Securities set a $50.00 price target on shares of Progress Software and gave the company a “buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Progress Software presently has a consensus rating of “Hold” and a consensus price target of $47.67.

In other Progress Software news, insider Anthony Murphy sold 932 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $45.99, for a total value of $42,862.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Francis Kane sold 7,764 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $45.58, for a total transaction of $353,883.12. Following the completion of the sale, the director now directly owns 80,890 shares in the company, valued at approximately $3,686,966.20. The disclosure for this sale can be found here. Insiders sold 86,695 shares of company stock worth $3,918,650 in the last ninety days. Insiders own 1.70% of the company’s stock.

Progress Software Company 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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