Progress Software (PRGS) Sees Unusually-High Trading Volume on Strong Earnings
Progress Software (PRGS) Sees Unusually-High Trading Volume on Strong Earnings
13 January, 2018, 22:37
Progress Software Corporation (NASDAQ:PRGS) major shareholder Praesidium Investment Manageme sold 100,000 shares of the stock in a transaction that occurred on Friday, February 3rd. The 1-year high was reported on Jan, 13 by Barchart.com. If the $53.37 PT is reached, the company will be worth $98.16 million more. It closed at $0.006 lastly. The stock increased 1.01% or $0.38 during the last trading session, reaching $37.97.
Analysts await Progress Software Corporation (NASDAQ:PRGS) to report earnings on January, 15. It has underperformed by 16.70% the S&P500. Benchmark restated a "buy" rating and issued a $47.00 price target (up from $42.00) on shares of Progress Software in a research note on Tuesday, January 2nd. During the same quarter in the prior year, the business earned $0.53 earnings per share. PRGS's profit will be $25.82M for 23.76 P/E if the $0.54 EPS becomes a reality.
Progress Software Corporation (NASDAQ:PRGS)'s market cap, the total dollar value of all of their outstanding shares, is 2400.17m. Progress Software updated its Q1 guidance to $0.46-0.48 EPS and its FY18 guidance to $2.29-2.35 EPS. Therefore 33% are positive. During the last 52 weeks, the price has been as high as $44.36 and as low as $27.16. This metric reflects the average amount a stock's price has differed from the mean over a period of time. Progress Software had a net margin of 11.48% and a return on equity of 11.42%. The stock is a Buy among 0 brokerage firms polled by Factset Research. As per Wednesday, January 11, the company rating was maintained by Shore Capital. Wedbush maintained the shares of PRGS in report on Wednesday, January 18 with "Neutral" rating. Benchmark maintained it with "Buy" rating and $31 target in Monday, January 18 report. ValuEngine downgraded Progress Software from a "buy" rating to a "hold" rating in a report on Friday, December 1st. The firm has "Neutral" rating by Wedbush given on Friday, October 2. Wedbush maintained the stock with "Neutral" rating in Friday, June 24 report.
Investors sentiment decreased to 0.73 in 2017 Q3. This represents a $0.50 annualized dividend and a dividend yield of 1.79%. University of Notre Dame DU Lac raised its position in Progress Software by 2.5% in the 3rd quarter. 85,503 are held by Choate Invest. Public Employees Retirement Association Of Colorado has invested 0% of its portfolio in Progress Software Corporation (NASDAQ:PRGS). Investors of record on Thursday, March 1st will be paid a $0.14 dividend. Progress Software Corp now has $2.39B valuation. Seizert Partners Ltd Liability has invested 0.03% in Coastway Bancorp, Inc. Amalgamated Bank acquired a new stake in Progress Software during the second quarter valued at approximately $206,000. The company's institutional ownership is monitored at 96.3 percent.
Progress Software Corporation provides software solutions for various industries worldwide. The insider, MARK MICHAEL, now holds 211,036 shares of PRGS. Rhumbline Advisers accumulated 101,785 shares. The correct version of this piece of content can be viewed at https://www.thelincolnianonline.com/2018/01/12/california-state-teachers-retirement-system-lowers-position-in-progress-software-co-prgs.html. This public company's current market capitalization stands at $2.39 billion.
Ironwood Investment Management Llc decreased its stake in Progress Software Corp (PRGS) by 84.74% based on its latest 2017Q3 regulatory filing with the SEC. The companyÂ's Data Connectivity and Integration segment provides Progress DataDirect Connect software, which offers data connectivity using industry-standard interfaces to connect applications running on various platforms; and Progress DataDirect Cloud, a software-as-a-service based connection management service that simplifies SQL access to a spectrum of cloud data sources through a single standards interface.
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Since August 24, 2017, it had 1 insider purchase, and 3 insider sales for $2.32 million activity. Riverhead Management Ltd Llc holds 4,172 shares or 0.01% of its portfolio. Jpmorgan Chase & holds 1.56M shares. The United Kingdom-based Ardevora Asset Management Llp has invested 1.06% in the stock.
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