Out of 3 analysts covering Progress Software Corporation (NASDAQ:PRGS), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Progress Software Corporation has been the topic of 6 analyst reports since October 2, 2015 according to StockzIntelligence Inc. Ladenburg Thalmann downgraded the stock on September 13 to “Neutral” rating. Below is a list of Progress Software Corporation (NASDAQ:PRGS) latest ratings and price target changes.
13/09/2016 Broker: Ladenburg Thalmann Old Rating: Buy New Rating: Neutral Downgrade
24/06/2016 Broker: Wedbush Rating: Neutral Old Target: $22.00 New Target: $24.00 Maintain
The stock decreased 4.02% or $1.16 during the last trading session, hitting $27.69. About 337,072 shares traded hands or 82.69% up from the average. Progress Software Corporation (NASDAQ:PRGS) has risen 24.30% since February 8, 2016 and is uptrending. It has outperformed by 7.81% the S&P500.
Progress Software Corporation is a global software company. The company has a market cap of $1.37 billion. The Firm offers solutions in the development, deployment and management of business applications on premise or in the cloud, on platforms or devices, to various data sources. It currently has negative earnings. The Firm operates through three divisions: OpenEdge; Data Connectivity and Integration, and Application Development and Deployment.
The institutional sentiment decreased to 0.76 in 2016 Q2. Its down 0.17, from 0.93 in 2016Q1. The ratio dropped, as 19 funds sold all Progress Software Corporation shares owned while 60 reduced positions. 16 funds bought stakes while 44 increased positions. They now own 44.33 million shares or 4.26% less from 46.30 million shares in 2016Q1.
Praesidium Investment Management Company Llc holds 16.11% of its portfolio in Progress Software Corporation for 6.72 million shares. Trigran Investments Inc. owns 856,778 shares or 6.2% of their US portfolio. Moreover, Oaktop Capital Management Ii L.P. has 4.08% invested in the company for 612,526 shares. The Indiana-based University Of Notre Dame Du Lac has invested 2.04% in the stock. Kestrel Investment Management Corp, a California-based fund reported 158,200 shares.
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