Yogesh K. Gupta Sells 5,000 Shares of Progress Software Co. (NASDAQ:PRGS) Stock

Progress Software Co. (NASDAQ:PRGSGet Rating) CEO Yogesh K. Gupta sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $47.28, for a total transaction of $236,400.00. Following the sale, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $3,782,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

PRGS stock traded up $0.71 during trading on Thursday, reaching $48.05. 235,702 shares of the company were exchanged, compared to its average volume of 322,561. The company has a 50-day moving average of $47.83 and a two-hundred day moving average of $46.44. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 6.88 and a beta of 1.07. Progress Software Co. has a twelve month low of $41.68 and a twelve month high of $53.99. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.21 and a quick ratio of 1.21.

Progress Software (NASDAQ:PRGSGet Rating) last announced its quarterly earnings results on Tuesday, March 29th. The software maker reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.13. Progress Software had a net margin of 14.40% and a return on equity of 39.08%. The firm had revenue of $147.51 million during the quarter, compared to analysts’ expectations of $139.24 million. During the same period in the prior year, the company posted $0.82 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, analysts forecast that Progress Software Co. will post 3.45 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, May 31st. Progress Software’s dividend payout ratio is currently 39.11%.

PRGS has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of Progress Software in a report on Thursday, March 31st. They set a “strong-buy” rating for the company. Citigroup upped their price objective on shares of Progress Software from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 30th.

Several large investors have recently bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in shares of Progress Software by 0.7% in the 1st quarter. D.A. Davidson & CO. now owns 33,996 shares of the software maker’s stock valued at $1,601,000 after purchasing an additional 231 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Progress Software by 20.6% in the 4th quarter. Lazard Asset Management LLC now owns 1,413 shares of the software maker’s stock valued at $68,000 after purchasing an additional 241 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Progress Software by 0.6% in the 1st quarter. Yousif Capital Management LLC now owns 40,247 shares of the software maker’s stock valued at $1,895,000 after purchasing an additional 250 shares during the last quarter. Prudent Man Advisors LLC boosted its stake in shares of Progress Software by 5.5% in the 1st quarter. Prudent Man Advisors LLC now owns 4,793 shares of the software maker’s stock valued at $226,000 after purchasing an additional 252 shares during the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in Progress Software by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 17,734 shares of the software maker’s stock worth $835,000 after acquiring an additional 255 shares in the last quarter. 99.46% of the stock is currently owned by institutional investors.

About Progress Software (Get Rating)

Progress Software Corporation develops, deploys, and manages business applications. The company offers OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices, as well as cloud; developer tools that consists of components for user interface development for Web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools; Sitefinity, a web content management and customer analytics platform; Corticon, a business rules management system that provides applications with decision automation and change process, and decision-related insight capabilities.

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