BidaskClub upgraded shares of Progress Software (NASDAQ:PRGS) from a hold rating to a buy rating in a research report report published on Friday morning.
A number of other research analysts have also weighed in on PRGS. Zacks Investment Research lowered Progress Software from a strong-buy rating to a hold rating in a research report on Wednesday. ValuEngine lowered Progress Software from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Benchmark lowered Progress Software from a hold rating to a sell rating in a research report on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $46.33.
Progress Software (NASDAQ PRGS) traded down $0.25 during mid-day trading on Friday, reaching $41.10. The company had a trading volume of 1,054,761 shares, compared to its average volume of 696,485. Progress Software has a one year low of $27.46 and a one year 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. The company has a market cap of $1,918.10, a price-to-earnings ratio of 53.38 and a beta of 0.75.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, February 28th. Progress Software’s dividend payout ratio (DPR) is presently 72.73%.
A number of hedge funds have recently bought and sold shares of PRGS. Xact Kapitalforvaltning AB purchased a new stake in Progress Software during the 4th quarter valued at $235,000. MetLife Investment Advisors LLC purchased a new stake in Progress Software during the 4th quarter valued at $895,000. Gotham Asset Management LLC boosted its stake in Progress Software by 1.4% during the 4th quarter. Gotham Asset Management LLC now owns 196,721 shares of the software maker’s stock valued at $8,374,000 after purchasing an additional 2,640 shares during the last quarter. Tensile Capital Management LLC boosted its stake in Progress Software by 0.3% during the 4th quarter. Tensile Capital Management LLC now owns 501,401 shares of the software maker’s stock valued at $21,345,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Vident Investment Advisory LLC boosted its stake in Progress Software by 78.7% during the 4th quarter. Vident Investment Advisory LLC now owns 15,803 shares of the software maker’s stock valued at $673,000 after purchasing an additional 6,960 shares during the last quarter. 94.27% of the stock is owned by institutional investors.
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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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