Trigran Investments buys $24,546,690 stake in Progress Software Corporation (PRGS)

Progress Software Corporation (PRGS) : Trigran Investments scooped up 6,425 additional shares in Progress Software Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 856,778 shares of Progress Software Corporation which is valued at $24,546,690.Progress Software Corporation makes up approximately 6.17% of Trigran Investments’s portfolio.

Other Hedge Funds, Including , Swiss National Bank boosted its stake in PRGS in the latest quarter, The investment management firm added 1,900 additional shares and now holds a total of 79,600 shares of Progress Software Corporation which is valued at $2,287,704.California State Teachers Retirement System reduced its stake in PRGS by selling 2,392 shares or 2.23% in the most recent quarter. The Hedge Fund company now holds 105,057 shares of PRGS which is valued at $3,019,338. Progress Software Corporation makes up approx 0.01% of California State Teachers Retirement System’s portfolio.Louisiana State Employees Retirement System reduced its stake in PRGS by selling 200 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 22,300 shares of PRGS which is valued at $650,937. Progress Software Corporation makes up approx 0.03% of Louisiana State Employees Retirement System’s portfolio. Cutler Group Lp sold out all of its stake in PRGS during the most recent quarter. The investment firm sold 8,496 shares of PRGS which is valued $247,913.

Progress Software Corporation opened for trading at $28.75 and hit $28.9 on the upside on Tuesday, eventually ending the session at $28.83, with a gain of 0.45% or 0.13 points. The heightened volatility saw the trading volume jump to 2,46,142 shares. Company has a market cap of $1,398 M.

On the company’s financial health, Progress Software Corporation reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jun 29, 2016. Analyst had a consensus of $0.29. The company had revenue of $96.10 million for the quarter, compared to analysts expectations of $94.63 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Progress Software Corporation. Company shares were Reiterated by Wedbush on Jun 24, 2016 to “Neutral”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .

Progress Software Corporation is a global software company that simplifies the development deployment and management of business applications. The Company’s products provide solutions for rapid application development broad data integration and efficient data analysis. The Company has three business units which include OpenEdge Data Connectivity and Integration and Application Development and Deployment. The solutions within the OpenEdge Business Unit include Progress OpenEdge and Progress Corticon. The solutions within the DCI Business Unit include Progress DataDirect Connect Progress DataDirect Cloud and Progress Easyl. The solutions within the AppDev Business Unit include Progress Pacific Progress Rollbase Modulus Telerik Dev Tools Telerik Dev Cloud Telerik Platform Telerik ALM and Telerik Sitefinity.

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