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BlackRock Inc. Cuts Stake in Progress Software program Corp (PRGS)

Fintel reviews that BlackRock Inc. has filed a 13G/A type with the SEC disclosing possession of seven,378,311 shares of Progress Software program Corp (PRGS). This represents 17.2% of the corporate.

Of their earlier submitting dated January 27, 2022 they reported 8,136,361 shares and 18.60% of the corporate,
a lower in shares of 9.32% and a lower in complete possession of 1.40% (calculated as present – earlier p.c possession).

Progress gives the most effective merchandise to develop, deploy and handle high-impact enterprise functions. Its complete product stack is designed to make know-how groups extra productive and it has a deep dedication to the developer neighborhood, each open supply and industrial alike. With Progress, organizations can speed up the creation and supply of strategic enterprise functions, automate the method by which apps are configured, deployed and scaled, and make important information and content material extra accessible and secure-leading to aggressive differentiation and enterprise success. Over 1,700 impartial software program distributors, 100,000+ enterprise clients, and a three-million-strong developer neighborhood depend on Progress to energy their functions.

What are massive shareholders doing?

Segall Bryant & Hamill, Llc holds 1,776,994 shares representing 4.13% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,739,956 shares, representing
enhance
of two.08%. the agency

elevated

its portfolio allocation in PRGS by 1.51% during the last quarter.

Boston Belief Walden Corp holds 1,618,856 shares representing 3.76% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,609,055 shares, representing
enhance
of 0.61%. the agency

decreased

its portfolio allocation in PRGS by 36.05% during the last quarter.

Wellington Administration Group Llp holds 1,213,400 shares representing 2.82% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,236,593 shares, representing
to lower
of 1.91%. the agency

decreased

its portfolio allocation in PRGS by 2.52% during the last quarter.

Financial institution of New York Mellon Corp holds 1,160,876 shares representing 2.70% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,183,918 shares, representing
to lower
of 1.98%. the agency

decreased

its portfolio allocation in PRGS by 56.22% during the last quarter.

Renaissance Applied sciences Llc holds 1,160,470 shares representing 2.70% possession of the corporate. In it is prior submitting, the agency reported proudly owning 1,295,070 shares, representing
to lower
of 11.60%. the agency

elevated

its portfolio allocation in PRGS by 0.58% during the last quarter.

Fund Sentiment

There are 592 funds or establishments reporting positions in Progress Software program Corp. It is a lower of 12 proprietor(s) or 1.99%.

Common portfolio weight of all funds devoted to Progress Software program Corp is 0.2203%, a lower of two.4076%. Complete shares owned by establishments elevated within the final three months by 1.12% to 53,248,897 shares.

Analyst Sentiment

As of January 22, 2023, the common one-year value goal for Progress Software program is $56.39. The forecasts vary from a low of $45.45 to a excessive of $73.50. The common value goal represents a rise of 8.55% from its newest reported closing value of $51.95.

The projected annual income for Progress Software program is $642MM, a rise of 6.71%. The projected annual EPS is $4.42, a rise of 102.12%.

This story initially appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.

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