Landscape Capital Management L.L.C. purchased a new stake in Progress Software Co. (NASDAQ:PRGS) during the 4th quarter, Holdings Channel reports. The fund purchased 8,362 shares of the software maker’s stock, valued at approximately $356,000.
Other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio increased its holdings in Progress Software by 0.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,921 shares of the software maker’s stock valued at $152,000 after buying an additional 44 shares during the period. Hartford Investment Management Co. bought a new stake in Progress Software in the 3rd quarter valued at $286,000. Meeder Asset Management Inc. increased its holdings in Progress Software by 392.2% in the 4th quarter. Meeder Asset Management Inc. now owns 8,037 shares of the software maker’s stock valued at $341,000 after buying an additional 6,404 shares during the period. Vident Investment Advisory LLC bought a new stake in Progress Software in the 3rd quarter valued at $338,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Progress Software in the 3rd quarter valued at $435,000. 94.27% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Progress Software Co. (PRGS) opened at $40.38 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. Progress Software Co. has a fifty-two week low of $27.46 and a fifty-two week high of $53.60. The stock has a market cap of $1,873.10, a price-to-earnings ratio of 23.89 and a beta of 0.75.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Wednesday, February 28th. Progress Software’s payout ratio is 72.73%.
Several brokerages have issued reports on PRGS. BidaskClub lowered shares of Progress Software from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine lowered shares of Progress Software from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Benchmark lowered shares of Progress Software from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Zacks Investment Research raised shares of Progress Software from a “hold” rating to a “strong-buy” rating and set a $60.00 price target on the stock in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.33.
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Progress Software 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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