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Progress Software program (NASDAQ:PRGS) Reaches New 12-Month Low Following Insider Promoting

Progress Software program Co. (NASDAQ:PRGS – Get Score)’s share value reached a brand new 52-week low throughout buying and selling on Friday following insider promoting exercise. The corporate traded as little as $41.68 and final traded at $41.78, with a quantity of 3481 shares. The inventory had beforehand closed at $43.00. Particularly, CEO Yogesh Ok. Gupta offered 5,000 shares of Progress Software program inventory in a transaction that occurred on Wednesday, September twenty first. The inventory was offered at a mean value of $43.87, for a complete worth of $219,350.00. Following the transaction, the chief government officer now immediately owns 65,000 shares within the firm, valued at roughly $2,851,550. The sale was disclosed in a doc filed with the Securities & Trade Fee, which is offered on the SEC web site. In different Progress Software program information, CEO Yogesh Ok. Gupta offered 5,000 shares of Progress Software program inventory in a transaction that occurred on Wednesday, September twenty first. The inventory was offered at a mean value of $43.87, for a complete worth of $219,350.00. Following the transaction, the chief government officer now immediately owns 65,000 shares within the firm, valued at roughly $2,851,550. The sale was disclosed in a doc filed with the Securities & Trade Fee, which is offered on the SEC web site. Additionally, EVP Jennifer Ortiz offered 1,254 shares of Progress Software program inventory in a transaction that occurred on Tuesday, August sixteenth. The shares have been offered at a mean value of $50.14, for a complete worth of $62,875.56. Following the completion of the transaction, the manager vp now owns 4,984 shares within the firm, valued at $249,897.76. The disclosure for this sale could be discovered right here. Insiders have offered a complete of 16,254 shares of firm inventory valued at $762,776 over the past quarter. Firm insiders personal 3.20% of the corporate’s inventory.

Wall Avenue Analysts Forecast Development

PRGS has been the subject of various analyst reviews. Oppenheimer decreased their value goal on Progress Software program from $60.00 to $53.00 and set an “outperform” ranking on the inventory in a analysis notice on Wednesday, June twenty ninth. Guggenheim initiated protection on Progress Software program in a analysis notice on Friday, August twelfth. They issued a “purchase” ranking and a $60.00 value goal on the inventory. StockNews.com downgraded Progress Software program from a “strong-buy” ranking to a “purchase” ranking in a analysis notice on Friday, September ninth. Jefferies Monetary Group assumed protection on Progress Software program in a report on Friday, September ninth. They set a “maintain” ranking and a $52.00 goal value for the corporate. Lastly, Wedbush reaffirmed an “outperform” ranking on shares of Progress Software program in a report on Wednesday, June twenty ninth. Two funding analysts have rated the inventory with a maintain ranking and 5 have given a purchase ranking to the corporate’s inventory. In line with information from MarketBeat, the inventory has a mean ranking of “Average Purchase” and a mean goal value of $55.40.

Progress Software program Inventory Efficiency

The agency has a fifty-day shifting common of $47.02 and a 200-day shifting common of $46.81. The inventory has a market capitalization of $1.82 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 6.23 and a beta of 1.00. The corporate has a fast ratio of 1.25, a present ratio of 1.25 and a debt-to-equity ratio of 1.65.

Progress Software program (NASDAQ:PRGS – Get Score) final launched its quarterly earnings outcomes on Tuesday, June twenty eighth. The software program maker reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. Progress Software program had a return on fairness of 41.13% and a internet margin of 16.42%. The corporate had income of $148.70 million throughout the quarter, in comparison with analysts’ expectations of $146.45 million. Throughout the identical interval within the earlier 12 months, the agency posted $0.67 earnings per share. The enterprise’s income for the quarter was up 15.1% in comparison with the identical quarter final 12 months. As a gaggle, sell-side analysts anticipate that Progress Software program Co. will put up 3.47 EPS for the present 12 months.

Progress Software program Dividend Announcement

The enterprise additionally lately declared a quarterly dividend, which was paid on Thursday, September fifteenth. Stockholders of file on Thursday, September 1st have been issued a $0.175 dividend. The ex-dividend date was Wednesday, August thirty first. This represents a $0.70 dividend on an annualized foundation and a dividend yield of 1.68%. Progress Software program’s dividend payout ratio (DPR) is 32.56%.

Hedge Funds Weigh In On Progress Software program

A number of institutional traders have lately added to or lowered their stakes in PRGS. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a brand new place in Progress Software program within the first quarter valued at $85,000. SG Americas Securities LLC bought a brand new stake in Progress Software program throughout the first quarter valued at about $108,000. Simplex Buying and selling LLC grew its place in Progress Software program by 139.2% throughout the first quarter. Simplex Buying and selling LLC now owns 2,383 shares of the software program maker’s inventory valued at $112,000 after buying a further 8,469 shares throughout the interval. Penserra Capital Administration LLC grew its place in Progress Software program by 50.0% throughout the first quarter. Penserra Capital Administration LLC now owns 2,622 shares of the software program maker’s inventory valued at $123,000 after buying a further 874 shares throughout the interval. Lastly, Captrust Monetary Advisors grew its place in Progress Software program by 75.1% throughout the first quarter. Captrust Monetary Advisors now owns 3,525 shares of the software program maker’s inventory valued at $166,000 after buying a further 1,512 shares throughout the interval. 98.90% of the inventory is at the moment owned by institutional traders and hedge funds.

Progress Software program Firm Profile

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Progress Software program Company develops, deploys, and manages enterprise purposes. The corporate presents OpenEdge, a growth software program, which builds multi-language purposes for safe deployment throughout numerous platforms and gadgets, in addition to cloud; developer instruments that include parts for person interface growth for Net, cellular, desktop, chat, and AR/VR apps, in addition to automated software testing and reporting instruments; Sitefinity, an internet content material administration and buyer analytics platform; Corticon, a enterprise guidelines administration system that gives purposes with choice automation and alter course of, and decision-related perception capabilities.

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This prompt information alert was generated by narrative science know-how and monetary information from MarketBeat with the intention to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial crew previous to publication. Please ship any questions or feedback about this story to contact@marketbeat.com.

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