Economy

Progress Software Corporation (NASDAQ:PRGS) Overbought but Is That a Sell Indicator?

Green Square Capital Llc sold 14,416 shares as Pbf Energy Inc Cl A (PBF)'s stock declined 10.10%. Public Employees Retirement System of OH now owns 4,921 shares of the software maker's stock valued at $152,000 after buying an additional 44 shares in the last quarter. Pbf Energy Inc Cl A now has $2.78B valuation. The stock increased 2.01% or $0.73 during the last trading session, reaching $36.96. It has underperformed by 37.54% the S&P500.

Progress Software Corporation, launched on December 31, 1981, is involved in application development. PRGS's profit would be $17.39 million giving it 25.16 P/E if the $0.36 EPS is correct.

The counter witnessed a trading volume of 0.66 million shares versus an average volume of 0.36 million shares during last trading session.

Traders are feeling more bearish on Progress Software Corporation recently as inferred by the rise in short interest. It has underperformed by 1.65% the S&P500. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Therefore 33% are positive. The stock has "Neutral" rating by JP Morgan on Monday, August 1. On Wednesday, January 18 the stock rating was maintained by Wedbush with "Neutral". Stocks with beta's lower than 1 are less risky than the market and those with a higher beta may be more risky than the market.

In related news, major shareholder Praesidium Investment Manageme sold 850,000 shares of the stock in a transaction dated Wednesday, January 4th. The rating was initiated by JP Morgan with "Overweight" on Friday, April 8. Next quarter's EPS is expected be $0.58 and the next full year EPS is projected to be $1.83. The dividend payment will be $0.125 per share for the quarter which is $0.50 annualized. Symmetry Peak Mgmt Lc holds 0.33% or 1.02M shares. An RSI above 70 is considered overbought and under 30 is considered oversold.

So, most importantly, where are shares headed from here? This dividend represents a yeild of $1.48 which is the dividend as a percentage of the current share price. Jefferies Group Lc holds 7,706 shares. 52,879 are owned by State Of Wisconsin Invest Board. Moreover, Renaissance Technology Ltd has 0% invested in IMI plc (LON:IMI) for 826,866 shares. Bridgeway Management owns 392,500 shares or 0% of their U.S. portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 1,203 shares. Hl Limited reported 99,724 shares. Aqr Limited, Connecticut-based fund reported 35,450 shares. BlackRock Inc. lifted its holdings in Progress Software Corporation by 53,713.4% in the first quarter. It also upped Jpmorgan Chase & Co Com (NYSE:JPM) stake by 11,100 shares and now owns 75,453 shares. Synchrony Finl (NYSE:SYF) was raised too.

Capstone Asset Mngmt holds 0.01% of its portfolio in Progress Software Corporation (NASDAQ:PRGS) for 13,299 shares.

Progress Software Corporation's stock has a beta of 0.66 meaning it is less volatile than the overall market which definitionaly has a beta of 1. The stock presently has an average rating of "Hold" and a consensus target price of $34.75. The rating was maintained by Wedbush on Wednesday, January 18 with "Neutral".

Progress Software Corporation (NASDAQ:PRGS) last released its earnings results on Monday, January 16th. The stock of Progress Software Corporation (NASDAQ:PRGS) earned "Neutral" rating by Wedbush on Friday, June 24.

Aqr Mgmt Ltd Limited Liability Company reported 0% in Progress Software Corporation (NASDAQ:PRGS). They now have a Dollars 24 price target on the stock. Progress Software Corporation had a positive return on equity of 18.10% and a negative net margin of 13.96%. Its down 0.49, from 1.98 in 2016Q3.

Other large investors also recently bought and sold shares of the company. 24 funds opened positions while 49 raised stakes. The firm's revenue for the quarter was up 2.3% compared to the same quarter a year ago. 21,379 were reported by Voya Management Ltd Liability Corp. Kanaly Trust invested in 0% or 88 shares. Numeric Investors LLC lifted its holdings in Progress Software Corporation by 2,170.2% in the second quarter. 71,700 were reported by Swiss Retail Bank. Price T Rowe Assoc Md invested in 674,200 shares. Ameritas Investment Partners Inc. acquired a new position in shares of Progress Software Corporation in the first quarter valued at approximately $126,000.

11/16/2015 - Progress Software Corporation was downgraded to "sell" by analysts at Goldman Sachs. This is an increase from Progress Software Corporation's previous quarterly dividend of $0.13.

Progress Software Corporation is a global software company.

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