Progress Software Co. (PRGS) Stake Lowered by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC lessened its holdings in Progress Software Co. (NASDAQ:PRGS) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 360,206 shares of the software maker’s stock after selling 13,080 shares during the period. Chartwell Investment Partners LLC owned about 0.78% of Progress Software worth $15,334,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio boosted its position in shares of Progress Software by 0.9% in the second quarter. Public Employees Retirement System of Ohio now owns 4,921 shares of the software maker’s stock worth $152,000 after buying an additional 44 shares during the period. Hartford Investment Management Co. acquired a new stake in shares of Progress Software in the third quarter worth $286,000. Meeder Asset Management Inc. boosted its position in shares of Progress Software by 392.2% in the fourth quarter. Meeder Asset Management Inc. now owns 8,037 shares of the software maker’s stock worth $341,000 after buying an additional 6,404 shares during the period. Vident Investment Advisory LLC acquired a new stake in shares of Progress Software in the third quarter worth $338,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Progress Software in the second quarter worth $286,000. 96.96% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on PRGS shares. Zacks Investment Research cut Progress Software from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. ValuEngine cut Progress Software from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Benchmark reissued a “buy” rating and set a $47.00 price objective (up previously from $42.00) on shares of Progress Software in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $46.33.

Shares of Progress Software Co. (NASDAQ PRGS) opened at $47.74 on Thursday. The stock has a market capitalization of $2,195.03, a price-to-earnings ratio of 62.00 and a beta of 0.71. Progress Software Co. has a 12-month low of $27.46 and a 12-month high of $53.60. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.31.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, January 10th. The software maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.13. The firm had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $114.33 million. Progress Software had a return on equity of 21.25% and a net margin of 9.41%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. equities analysts forecast that Progress Software Co. will post 1.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $0.56 dividend on an annualized basis and a yield of 1.17%. Progress Software’s payout ratio is 72.73%.

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Progress Software Company Profile

Progress Software Corporation is engaged in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The OpenEdge business segment provides the product enhancements and marketing support to its partner base.

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

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