Progress Software Corporation (NASDAQ:PRGS) Closed Well Above Its 50 Day Average


The stock is trading at $42.35 quite a bit above the 50 day moving average of $38.34 and quite a bit higher than the 200 day moving average of $32.64. The 50 day moving average went up $4.01 or +10.46% and the 200 day average moved up $9.71. Trading was heavy with 314K shares changing hands by the end of trading on Tuesday. Trading volume was up 31.10% over the stocks average daily volume.

Short traders are feeling a little more bullish on the company lately if you take a look at the change in short interest. The stock saw a fall in short interest of -23.13% as of the latest report on September 29, 2017. Short interest fell from 918,873 to 706,293 over that timeframe. With short interest at 706,293 and short average daily volume at 528,908, days to cover is 1.0 and the percentage of shorted shares was 0.01% on September 29.

These firms have modified their investment in PRGS. Bank Of Montreal /can/ expanded its ownership by buying 51 shares an increase of 21.6% as of 09/30/2017. Bank Of Montreal /can/ currently owns 287 shares valued at $11,000. The value of the position overall is up by 57.1%. Meeder Asset Management Inc reduced its investment by selling 1,563 shares a decrease of 48.9% in the quarter. Meeder Asset Management Inc owns 1,633 shares with a value of $62,000. The total value of its holdings decreased 37.4%.

Shell Asset Management CO cut its holdings by shedding 500 shares a decrease of 2.6% from 06/30/2017 to 09/30/2017. Shell Asset Management CO now controls 18,772 shares worth $717,000. The total value of its holdings increased 20.5%. Robeco Institutional Asset Management B.v. grew its stake by buying 90,604 shares an increase of 230.9%. Robeco Institutional Asset Management B.v. controls 129,843 shares with a value of $4,957,000. The value of the position overall is up by 309.0%.

The company is trading up by 0.50%% since yesterday’s close of 42.14. The company also recently declared a dividend for shareholders which was paid on Friday September 15th, 2017. The dividend payment was $0.140 per share for the quarter which is $0.56 annualized. The dividend yield was $1.34. The ex-dividend date was set for Wednesday the 30th of August 2017.

As of the last earnings report the EPS was $-1.10 and is estimated to be $1.85 for the current year with 47,807,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.38 with next year’s EPS anticipated to be $1.88.

Progress Software Corporation, launched on December 31, 1981, is involved in application development. The Company operates through three segments: OpenEdge, Data Connectivity and Integration (DCI), and Application Development and Deployment (AppDev). The Business’s offerings span Web, mobile and data for on-premise and cloud environments. Its solutions are used across a range of industries. The Company operates in North America and Latin America (the Americas); Europe, the Middle East and Africa (EMEA), and the Asia Pacific region, through local subsidiaries, as well as independent distributors. The Company sells its products and solutions through its direct sales force and indirect channel partners. As of November 30, 2016, the Company sold its products and solutions to enterprises in over 180 countries. The Company distributes its products through systems integrators, resellers, distributors, and original equipment manufacturers (OEMs) partners in the United States and internationally..