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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our daily email newsletter.

Like this



15 September 2017
One state just got saved from Obamacare's nightmare scenario
Earlier this week, however, the company said it will continue to sell individual plans in all of CT . That left 58 localities with no insurer offering individual plans.

15 September 2017
Hibbett Sports, Inc. (HIBB) Insider Buys $35520.00 in Stock
Canaccord Genuity set a $25.00 price target on Hibbett Sports and gave the stock a "hold" rating in a report on Friday, May 19th. The stock of Sprague Resources LP (NYSE:SRLP) has "Outperform" rating given on Monday, January 4 by Raymond James.

15 September 2017
JP Morgan Downgrades Rating Raises Price Target On United Continental Holdings (UAL)
Currently, 372.64 million total shares are owned by the public and among those 304.21 million shares have been available to trade. The stock of United Continental Holdings Inc (NYSE:UAL) earned "Market Perform" rating by Raymond James on Thursday, March 24.

15 September 2017
Oprah Winfrey to Make Her 60 Minutes Debut Next Week
She hosted her award-winning talk show for 25 years and in 2009 launched the Oprah Winfrey Network with Discovery Communications . Winfrey collaborating with CBS shouldn't come as a total surprise, as she has a strong relationship with the network.

15 September 2017
Vevo hacked as OurMine releases 3.12TB of internal files
KitGuru Says: This has been an unusual development given that OurMine doesn't typically leak large amounts of data. There was some sensitive information to be found though, including the fire alarm code for the company's offices.

15 September 2017
Gilead Sciences, Inc. (NASDAQ:GILD) Closed Above Its 50 Day Moving Average
ValuEngine lowered shares of Gilead Sciences from a buy rating to a hold rating in a research report on Friday, June 2nd. The Company operates through four divisions: Fragrances, Color Cosmetics, Skin & Body Care and Brazil Acquisition.

15 September 2017
Anti-doping bodies want Russian Federation ban
A group of 17 anti-doping leaders wants the Russian Olympic Committee banned from the upcoming Winter Games. However, Alexander Zhukov said Wada "didn't support this position".

15 September 2017
The city might face heavy rainfall on Sunday according to IMD
As per officials from IMD, the city is likely to receive one or two more spells of rains over the next couple of days. The maximum temperature recorded in Santacruz was 32.6 degree Celsius compared to 30.7 degree Celsius on Wednesday.

15 September 2017
Analytical Overview of Blue Apron Holdings, Inc. (APRN)
Shares of Blue Apron Holdings , Inc. (NYSE:APRN) closed up +0.26 points or 4.82% at $5.65 with 4.65 mln shares exchanging hands. They expect this year's earnings to fall -0.41% year-over-year to $2.44, followed by 15.98% growth in the next year to $2.83.

15 September 2017
Arizona State Retirement System Has $15.07 Million Position in Raytheon Company (RTN)
The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $52.90B. BidaskClub raised shares of Raytheon from a "buy" rating to a "strong-buy" rating in a report on Wednesday, July 12th.