Progress Software Co. (NASDAQ:PRGS) CFO Anthony Folger Sells 7,500 Shares

Progress Software Co. (NASDAQ:PRGSGet Free Report) CFO Anthony Folger sold 7,500 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $57.31, for a total value of $429,825.00. Following the completion of the sale, the chief financial officer now owns 23,865 shares of the company’s stock, valued at $1,367,703.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Anthony Folger also recently made the following trade(s):

  • On Friday, February 2nd, Anthony Folger sold 7,500 shares of Progress Software stock. The stock was sold at an average price of $57.41, for a total value of $430,575.00.

Progress Software Stock Down 1.2 %

Shares of NASDAQ:PRGS opened at $57.22 on Friday. The business has a 50-day moving average price of $55.13 and a 200 day moving average price of $55.68. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 7.62 and a beta of 0.98. Progress Software Co. has a 12-month low of $49.02 and a 12-month high of $62.34.

Progress Software (NASDAQ:PRGSGet Free Report) last issued its quarterly earnings data on Tuesday, January 16th. The software maker reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.11. The firm had revenue of $177.52 million during the quarter, compared to the consensus estimate of $174.12 million. Progress Software had a return on equity of 37.42% and a net margin of 10.11%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company earned $0.91 EPS. Sell-side analysts expect that Progress Software Co. will post 3.8 EPS for the current year.

Progress Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, February 29th. Progress Software’s payout ratio is 44.87%.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in shares of Progress Software by 2.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,942 shares of the software maker’s stock worth $403,000 after purchasing an additional 176 shares during the last quarter. Lazard Asset Management LLC grew its position in Progress Software by 4.3% in the 4th quarter. Lazard Asset Management LLC now owns 4,594 shares of the software maker’s stock valued at $231,000 after acquiring an additional 190 shares in the last quarter. Kendall Capital Management grew its position in Progress Software by 1.4% in the 4th quarter. Kendall Capital Management now owns 13,955 shares of the software maker’s stock valued at $758,000 after acquiring an additional 195 shares in the last quarter. Captrust Financial Advisors grew its position in Progress Software by 1.1% in the 4th quarter. Captrust Financial Advisors now owns 17,769 shares of the software maker’s stock valued at $896,000 after acquiring an additional 195 shares in the last quarter. Finally, Assetmark Inc. grew its position in Progress Software by 9.2% in the 3rd quarter. Assetmark Inc. now owns 2,761 shares of the software maker’s stock valued at $145,000 after acquiring an additional 232 shares in the last quarter.

About Progress Software

(Get Free Report)

Progress Software Corporation develops, deploys, and manages business applications. 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, a flexible 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.

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