Dakota Wealth Management buys 3,817 shares of Progress Software Co. (NASDAQ:PRGS)

Dakota Wealth Management acquired a new stake in shares of Progress Software Co. (NASDAQ:PRGS – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,817 shares of the software maker’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Progress Software by 1.7% in the first quarter. Vanguard Group Inc. now owns 5,629,836 shares of the software maker’s stock worth $300,127,000 after acquiring an additional 95,594 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Progress Software by 10.9% in the second quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker’s stock worth $106,713,000 after acquiring an additional 192,899 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Progress Software by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,359,246 shares of the software maker’s stock worth $73,807,000 after acquiring an additional 23,097 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Progress Software by 0.6% in the first quarter. Principal Financial Group Inc. now owns 1,032,624 shares of the software maker’s stock worth $55,049,000 after purchasing an additional 6,166 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Progress Software by 79.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 708,324 shares of the software maker’s stock worth $37,761,000 after purchasing an additional 312,537 shares in the last quarter.

Progress software stock performance

NASDAQ PRGS traded up $0.28 during trading on Wednesday, reaching $57.13. 7,220 shares of the company traded hands, compared to its average volume of 483,078. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 34.66, a PEG ratio of 7.18 and a beta of 0.93. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $62.34. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95, and a current ratio of 1.12. The company has a 50-day moving average of $54.55 and a 200-day moving average of $53.10.

Progress Software (NASDAQ:PRGS – Get Free Report ) last released its quarterly earnings data on Tuesday, June 25th. The software maker reported $0.87 EPS for the quarter, topping the consensus estimate of $0.74 by $0.13. The business had revenue of $175.08 million for the quarter, compared to the consensus estimate of $168.60 million. Progress Software had a net margin of 10.29% and a return on equity of 36.88%. As a group, equities research analysts anticipate that Progress Software Co. will post 3.91 earnings per share for the current fiscal year.

Progress Software announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be paid a dividend of $0.175 per share. This represents an annualized dividend of $0.70 and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, August 30. Progress Software’s dividend payout ratio is currently 42.68%.

Analysts set new price targets

A number of equities analysts recently weighed in on PRGS shares. Jefferies Financial Group cut their price target on shares of Progress Software from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, June 26th. Wedbush upped their target price on shares of Progress Software from $67.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Guggenheim reissued a “buy” rating and issued a $64.00 target price on shares of Progress Software in a report on Tuesday, June 25th. Oppenheimer reissued an “outperform” rating and issued a $66.00 target price on shares of Progress Software in a report on Wednesday, June 26th. Finally, StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $63.50, based on data from MarketBeat.

View the latest stock report on Progress Software

Indoor activity

In other news, CFO Anthony Folger sold 3,767 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $50.50, for a total transaction of $190,233.50. Following the sale, the chief financial officer now directly owns 37,542 shares in the company, valued at $1,895,871. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Anthony Folger sold 3,767 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $50.50, for a total transaction of $190,233.50. Following the sale, the chief financial officer now directly owns 37,542 shares in the company, valued at $1,895,871. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ian Pitt sold 584 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $55.00, for a total value of $32,120.00. Following the sale, the insider now owns 3,167 shares in the company, valued at $174,185. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold a total of 17,530 shares of company stock worth $955,238. Company insiders own 3.40% of the company’s shares.

Progress Software Company Profile

(Free Report)

Progress Software Corporation develops, implements and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools which consists of collection of software development tools, including .NET and JavaScript components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product that provides cloud-native and virtual and hardware load balancing; and Sitefinity, a digital experience platform foundation that provides smart and ROI tools for marketers.

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