Sundar Subramanian Sells 2,475 Shares of Progress Software Co. (NASDAQ:PRGS) Stock

Progress Software Co. (NASDAQ:PRGSGet Free Report) EVP Sundar Subramanian sold 2,475 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $57.38, for a total transaction of $142,015.50. Following the completion of the sale, the executive vice president now directly owns 21,198 shares of the company’s stock, valued at $1,216,341.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sundar Subramanian also recently made the following trade(s):

  • On Monday, January 8th, Sundar Subramanian sold 750 shares of Progress Software stock. The stock was sold at an average price of $52.12, for a total transaction of $39,090.00.
  • On Friday, December 1st, Sundar Subramanian sold 2,119 shares of Progress Software stock. The stock was sold at an average price of $53.64, for a total transaction of $113,663.16.
  • On Wednesday, November 15th, Sundar Subramanian sold 1,704 shares of Progress Software stock. The stock was sold at an average price of $53.88, for a total transaction of $91,811.52.

Progress Software Stock Performance

PRGS stock opened at $57.14 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 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 36.63, a P/E/G ratio of 7.52 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. The firm has a 50 day moving average of $55.43 and a two-hundred day moving average of $55.59.

Progress Software (NASDAQ:PRGSGet Free Report) last posted its earnings results on Tuesday, January 16th. The software maker reported $1.02 EPS for the quarter, topping the consensus estimate of $0.91 by $0.11. The company had revenue of $177.52 million during the quarter, compared to the consensus estimate of $174.12 million. Progress Software had a net margin of 10.11% and a return on equity of 37.42%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts anticipate that Progress Software Co. will post 3.8 EPS for the current fiscal year.

Progress Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.23%. 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 institutional investors and hedge funds have recently modified their holdings of PRGS. Raymond James & Associates lifted its stake in shares of Progress Software by 23.6% in the first quarter. Raymond James & Associates now owns 50,145 shares of the software maker’s stock worth $2,361,000 after buying an additional 9,590 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Progress Software by 19.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,822 shares of the software maker’s stock worth $322,000 after buying an additional 1,108 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Progress Software by 57.1% in the first quarter. MetLife Investment Management LLC now owns 23,303 shares of the software maker’s stock worth $1,097,000 after buying an additional 8,470 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Progress Software by 7.3% in the first quarter. Rhumbline Advisers now owns 111,895 shares of the software maker’s stock worth $5,269,000 after buying an additional 7,594 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Progress Software by 14.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,088 shares of the software maker’s stock worth $1,794,000 after buying an additional 4,951 shares during the last quarter.

Progress Software Company Profile

(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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