It is currently trading at $42.33 a tad higher than $39.65, the stock’s 50 day moving average and impressively higher than the 200 day moving average of $33.17. The 50 day moving average was up by +6.77% and the 200 day average went up by +27.63%. (NASDAQ:PRGS) shares saw heavy trading volume with 338K shares changing hands in the last trading session. Trading volume was up 0.46% over the stocks average daily volume.
Short traders are feeling a little more bullish on the company recently if you consider the motion in short interest. The firm realized a fall in short interest from September 29, 2017 to October 13, 2017 of -11.15%. Short shares fell from 706,293 to 627,563 over that period. Days to cover decreased 0.0 to 1.0 and the percentage of shorted shares is 0.01% as of October 13.
These funds have shifted positions in (PRGS). As of the end of the quarter Nationwide Fund Advisors had acquired 5,407 shares growing its holdings by 3.0%. The value in dollars increased from $5,635,000 to $7,169,000 a change of $1,534,000 since the last quarter. As of quarter end Nj State Employees Deferred Compensation Plan had sold a total of 20,000 shares trimming its stake by 57.1%. The value of the total investment in Progress Software Corporation went from $1,081,000 to $573,000 decreasing 47.0% quarter to quarter.
Aperio Group, LLC added to its holdings by buying 813 shares an increase of 3.2% in the quarter. Aperio Group, LLC owns 26,125 shares worth $997,000. The total value of its holdings increased 27.5%. As of the end of the quarter Simplex Trading, LLC had disposed of 4,192 shares trimming its position 61.6%. The value of the company’s investment in Progress Software Corporation decreased from $210,000 to $99,000 a change of 52.9% quarter over quarter.
The company is trading up by 1.39% since yesterday’s close of $42.33. Additionally the company announced a dividend for shareholders paid on Friday the 15th of September 2017. The dividend was $0.140 per share for the quarter which comes to $0.56 on an annualized basis. This dividend represents a yield of $1.32. The ex-dividend date was set for Wednesday the 30th of August 2017.
In the last earnings report the EPS was $-1.10 and is projected to be $1.85 for the current year with 47,807,000 shares outstanding. Next quarter’s EPS is forecasted at $0.38 with next year’s EPS projected 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..