HL Financial Services LLC decreased its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,019 shares of the software maker’s stock after selling 3,994 shares during the period. HL Financial Services LLC owned about 0.22% of Progress Software Corporation worth $3,970,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PRGS. UBS Asset Management Americas Inc. lifted its position in shares of Progress Software Corporation by 5.9% during the first quarter. UBS Asset Management Americas Inc. now owns 17,849 shares of the software maker’s stock worth $519,000 after purchasing an additional 992 shares during the last quarter. OppenheimerFunds Inc. lifted its position in shares of Progress Software Corporation by 48.1% during the first quarter. OppenheimerFunds Inc. now owns 11,904 shares of the software maker’s stock worth $346,000 after purchasing an additional 3,867 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Progress Software Corporation by 4.7% during the first quarter. Vanguard Group Inc. now owns 4,260,369 shares of the software maker’s stock worth $123,763,000 after purchasing an additional 192,991 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Progress Software Corporation by 5.0% during the first quarter. Geode Capital Management LLC now owns 519,244 shares of the software maker’s stock worth $15,083,000 after purchasing an additional 24,877 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Progress Software Corporation by 107.2% during the first quarter. Morgan Stanley now owns 370,821 shares of the software maker’s stock worth $10,773,000 after purchasing an additional 191,822 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors and hedge funds.

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Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of Progress Software Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 29th. Wedbush reaffirmed a “neutral” rating and set a $32.00 price target on shares of Progress Software Corporation in a research report on Monday, September 18th. Benchmark Co. reaffirmed a “buy” rating and set a $42.00 price target (up previously from $34.00) on shares of Progress Software Corporation in a research report on Wednesday, September 13th. Finally, BidaskClub raised shares of Progress Software Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 24th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.50.

Progress Software Corporation (NASDAQ:PRGS) traded up $0.21 on Friday, reaching $42.15. 161,000 shares of the company traded hands, compared to its average volume of 360,802. The firm has a market capitalization of $2,005.06, a price-to-earnings ratio of 25.57 and a beta of 0.66. Progress Software Corporation has a 52-week low of $27.16 and a 52-week high of $42.97. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.28.

Progress Software Corporation (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, September 27th. The software maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08. The firm had revenue of $97.60 million for the quarter, compared to analyst estimates of $97.60 million. Progress Software Corporation had a negative net margin of 13.23% and a positive return on equity of 20.30%. Progress Software Corporation’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. equities analysts anticipate that Progress Software Corporation will post 1.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.14 per share. This is a positive change from Progress Software Corporation’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.56 annualized dividend and a yield of 1.33%. Progress Software Corporation’s dividend payout ratio is -45.87%.

Progress Software Corporation announced that its board has authorized a stock repurchase program on Wednesday, September 27th that allows the company to buyback $159.00 million in outstanding shares. This buyback authorization allows the software maker to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Progress Software Corporation

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.

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

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