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Progress Software Corporation (NASDAQ:PRGS) Moves Into Potential Pullback Territory

12 January 2018

The total number of shares traded in the last 12 months is 235,592. The company has an average rating of "Hold" and an average price target of $40.33. Ironwood Investment Management Llc who had been investing in Progress Software Corp for a number of months, seems to be less bullish one the $2.09 billion market cap company. About 600,772 shares traded or 83.60% up from the average.

Progress Software Corporation (NASDAQ:PRGS) has a market cap of $2.39 billion and over the last 12 months, PRGS has risen by 59.31%. It has underperformed by 1.65% the S&P500. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued. The firm's quarterly revenue was down 1.4% on a year-over-year basis. The stock increased 17.52% or $7.65 during the last trading session, reaching $51.32. About 135,367 shares traded. The 10% Owner disposed these shares by way of transaction on January 04, 2017. Of those analysts, 1 rate stock as a Strong Buy, 2 rate it as Hold, and just no analyst rates it as a Moderate Sell. Therefore 68% are positive. Proto Labs had 14 analyst reports since August 26, 2015 according to SRatingsIntel. As per Friday, January 15, the company rating was maintained by Benchmark. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders. The stock of Proto Labs, Inc. Piper Jaffray maintained Proto Labs, Inc. Piper Jaffray has "Hold" rating and $67.0 target.

When a company is able to grow consistently in terms of earnings at a high compound rate have the highest likelihood of creating value for its shareholders over time. The company was maintained on Friday, October 2 by Wedbush. Gabelli initiated the shares of WHR in report on Tuesday, October 27 with "Buy" rating. The firm has "Buy" rating by Benchmark given on Monday, January 18.

Since December 11, 2017, it had 0 buys, and 2 selling transactions for $430,523 activity. (NYSE:PRLB) was sold by Gawlick Rainer.

Investors sentiment decreased to 1.03 in Q3 2017. This represents a $0.56 annualized dividend and a dividend yield of 1.28%. 31 funds opened positions while 58 raised stakes. There has been an observed change of 0.00% in the ownership of the shares in the past six months. Kornitzer Cap Management Inc Ks has invested 0.01% in Proto Labs, Inc. (NASDAQ:EPZM). Morgan Stanley has 0% invested in Epizyme, Inc. (NYSE:PRLB). Blair William Il reported 0.11% of its portfolio in Proto Labs, Inc. The Massachusetts-based Martingale Asset LP has invested 0.05% in Whirlpool Corporation (NYSE:WHR). Strs Ohio holds 29,100 shares. However, the institutional investors are observed to own 2.10% of the total shares. Bb&T Ltd stated it has 0% in Epizyme, Inc. (NYSE:PRLB). Tiedemann Wealth Mgmt Limited Liability Company holds 0.03% in Proto Labs, Inc. The shares of Sea Limited (NYSE:SE), has jumped by 6.75% year to date as of 01/11/2018. Nationwide Fund Advsrs accumulated 187,822 shares or 0.03% of the stock. California State Teachers Retirement stated it has 76,208 shares. Kallsen Terri R sold $196,357 worth of stock or 4,267 shares.

Analysts await Proto Labs, Inc. Whittier Tru reported 0.3% in The Charles Schwab Corporation (NYSE:SCHW).

For the current quarter ending in March, Progress Software expects its per-share earnings to range from 46 cents to 48 cents. Therefore 33% are positive.

The consensus recommendation - averaging the work of 4 analysts - of 2.8 for Progress Software Corporation (PRGS) points to moderate case. Benchmark restated a "buy" rating and issued a $42.00 target price (up from $34.00) on shares of Progress Software in a research report on Wednesday, September 13th. As per Tuesday, September 13, the company rating was downgraded by Ladenburg Thalmann.

Progress Software (NASDAQ:PRGS) announced its earnings results on Wednesday. The stock of Progress Software Corporation (NASDAQ:PRGS) has "Buy" rating given on Monday, January 18 by Benchmark. As per Wednesday, January 18, the company rating was maintained by Wedbush. The firm has "Neutral" rating given on Friday, June 24 by Wedbush.

Investors sentiment increased to 1.02 in 2017 Q3. Its down 0.35, from 1.49 in 2017Q2. It fall, as 15 investors sold Epizyme, Inc. shares while 22 reduced holdings. 37 funds opened positions while 61 raised stakes. Natixis, France-based fund reported 6,743 shares. Panagora Asset Management has 0.05% invested in Progress Software Corporation (NASDAQ:PRGS).

According to Zacks, "Progress Software Corporation is a global supplier of application development, deployment and management technology, Internet and intranet enabling technologies and support services to business, industry and government". Gulf National Bank (Uk) Ltd invested in 0.06% or 23,071 shares. At present, 1 analysts recommended Holding these shares while 0 recommended sell, according to FactSet data. Boston Advisors Lc holds 25,200 shares. 99,242 were accumulated by Legal General Grp Public Ltd. Millennium Lc holds 0.02% or 360,449 shares in its portfolio. Lord Abbett And Limited Company invested 0.09% of its portfolio in Whirlpool Corporation (NYSE:WHR). It dropped, as 17 investors sold Progress Software Corporation shares while 69 reduced holdings. Great Lakes Advsr Limited Liability Corporation owns 79,134 shares. IOTS's profit would be $422,779 giving it 82.50 P/E if the $0.02 EPS is correct.

Ironwood Investment Management Llc, which manages about $850.00M and $142.32M US Long portfolio, upped its stake in Azz Inc. Its down 1.61% from 5.75 million shares previously.

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Progress Software Corporation (NASDAQ:PRGS) Moves Into Potential Pullback Territory