Louisiana State Employees Retirement System Takes Position in Progress Software Co. (NASDAQ:PRGS)

Louisiana State Employees Retirement System acquired a new stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,800 shares of the software maker's stock, valued at approximately $1,184,000. Louisiana State Employees Retirement System owned 0.05% of Progress Software as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. lifted its stake in shares of Progress Software by 116.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 61,121 shares of the software maker's stock valued at $3,319,000 after buying an additional 32,871 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Progress Software by 2.0% during the fourth quarter. Boston Trust Walden Corp now owns 1,701,094 shares of the software maker's stock valued at $92,369,000 after buying an additional 33,289 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Progress Software by 197.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 132,827 shares of the software maker's stock valued at $7,213,000 after buying an additional 88,175 shares during the period. Deutsche Bank AG lifted its stake in shares of Progress Software by 8.0% during the third quarter. Deutsche Bank AG now owns 387,313 shares of the software maker's stock valued at $20,365,000 after buying an additional 28,798 shares during the period. Finally, Graham Capital Management L.P. purchased a new position in shares of Progress Software during the third quarter valued at approximately $2,473,000.

Insider Transactions at Progress Software

In related news, CEO Yogesh K. Gupta sold 40,174 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $56.95, for a total transaction of $2,287,909.30. Following the completion of the sale, the chief executive officer now directly owns 186,558 shares of the company's stock, valued at approximately $10,624,478.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Yogesh K. Gupta sold 40,174 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $56.95, for a total transaction of $2,287,909.30. Following the completion of the sale, the chief executive officer now directly owns 186,558 shares of the company's stock, valued at approximately $10,624,478.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 7,500 shares of the firm's stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $57.31, for a total transaction of $429,825.00. Following the sale, the chief financial officer now directly owns 23,865 shares of the company's stock, valued at $1,367,703.15. The disclosure for this sale can be found here. Insiders sold 96,745 shares of company stock valued at $5,376,231 over the last 90 days. Corporate insiders own 3.30% of the company's stock.

Progress Software Trading Up 0.5 %

Shares of Progress Software stock traded up $0.24 during trading hours on Tuesday, hitting $51.43. The company's stock had a trading volume of 638,892 shares, compared to its average volume of 584,243. Progress Software Co. has a 1-year low of $49.00 and a 1-year high of $62.34. The business has a fifty day moving average of $52.88 and a 200 day moving average of $53.70. The company has a market capitalization of $2.26 billion, a PE ratio of 33.40, a P/E/G ratio of 6.56 and a beta of 0.94. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.50.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings data on Tuesday, March 26th. The software maker reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Progress Software had a net margin of 9.67% and a return on equity of 36.62%. The company had revenue of $184.69 million during the quarter, compared to analyst estimates of $181.91 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. The business's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Progress Software Co. will post 3.85 EPS for the current year.

Progress Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, May 31st. Progress Software's payout ratio is currently 45.45%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRGS. JPMorgan Chase & Co. reduced their price objective on shares of Progress Software from $65.00 to $63.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 27th. DA Davidson started coverage on shares of Progress Software in a research report on Thursday, March 28th. They set a "buy" rating and a $65.00 price target for the company. Oppenheimer reaffirmed an "outperform" rating and set a $66.00 price target on shares of Progress Software in a research report on Wednesday, March 27th. StockNews.com raised shares of Progress Software from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 10th. Finally, Wedbush upped their price target on shares of Progress Software from $65.00 to $67.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Progress Software currently has a consensus rating of "Buy" and a consensus price target of $64.60.

Progress Software Company Profile

Progress Software Corporation develops, deploys, 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 that consists of software development tooling collection, including .NET and JavaScript UI 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 offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.