Victory Capital Management Inc. Has $39.40 Million Holdings in Progress Software Co. (NASDAQ:PRGS)



Victory Capital Management Inc. increased its stake in Progress Software Co. (NASDAQ:PRGSGet Rating) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 925,857 shares of the software maker’s stock after buying an additional 16,553 shares during the quarter. Victory Capital Management Inc. owned approximately 2.15% of Progress Software worth $39,395,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Penserra Capital Management LLC lifted its holdings in Progress Software by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 2,622 shares of the software maker’s stock valued at $123,000 after purchasing an additional 874 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Progress Software by 75.1% during the 1st quarter. Captrust Financial Advisors now owns 3,525 shares of the software maker’s stock valued at $166,000 after purchasing an additional 1,512 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Progress Software by 56.6% during the 2nd quarter. SG Americas Securities LLC now owns 3,576 shares of the software maker’s stock valued at $162,000 after purchasing an additional 1,293 shares during the last quarter. James Investment Research Inc. acquired a new stake in Progress Software during the 2nd quarter valued at $182,000. Finally, EMC Capital Management lifted its holdings in Progress Software by 51.2% during the 2nd quarter. EMC Capital Management now owns 4,360 shares of the software maker’s stock valued at $198,000 after purchasing an additional 1,477 shares during the last quarter.

Progress Software Stock Up 1.1 %

PRGS opened at $51.95 on Friday. Progress Software Co. has a fifty-two week low of $40.33 and a fifty-two week high of $54.23. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.30 and a current ratio of 1.33. The company has a market capitalization of $2.23 billion, a P/E ratio of 24.05, a P/E/G ratio of 7.56 and a beta of 1.05. The stock has a fifty day moving average of $51.83 and a 200-day moving average of $48.54.

Progress Software (NASDAQ:PRGSGet Rating) last issued its quarterly earnings results on Tuesday, January 17th. The software maker reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. Progress Software had a return on equity of 41.17% and a net margin of 15.79%. The company had revenue of $159.17 million for the quarter, compared to analysts’ expectations of $163.04 million. During the same quarter last year, the business earned $0.92 earnings per share. Progress Software’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that Progress Software Co. will post 3.44 EPS for the current year.

Progress Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, February 28th. Progress Software’s payout ratio is currently 32.41%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Citigroup cut their price target on Progress Software from $52.00 to $46.00 in a report on Thursday, September 29th. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.75.

Insider Buying and Selling

In other Progress Software news, CAO Domenic Lococo sold 500 shares of Progress Software stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $50.94, for a total value of $25,470.00. Following the transaction, the chief accounting officer now owns 1,886 shares in the company, valued at $96,072.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Domenic Lococo sold 500 shares of Progress Software stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $50.94, for a total transaction of $25,470.00. Following the sale, the chief accounting officer now directly owns 1,886 shares of the company’s stock, valued at $96,072.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yogesh K. Gupta sold 10,000 shares of Progress Software stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $53.66, for a total value of $536,600.00. Following the sale, the chief executive officer now directly owns 20,000 shares in the company, valued at $1,073,200. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,340 shares of company stock worth $1,948,754. Company insiders own 3.20% of the company’s stock.

Progress Software Profile

(Get Rating)

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities.

Further Reading

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



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