Progress Software (PRGS) Updates FY18 Earnings Guidance

Saturday, 13 Jan, 2018

Ironwood Investment Management Llc sold 29,705 shares as the company's stock declined 0.96% while stock markets rallied. The hedge fund run by Martin Whitman held 87,555 shares of the prepackaged software company at the end of 2017Q3, valued at $3.34 million, down from 102,555 at the end of the previous reported quarter. The stock decreased 0.23% or $0.1 during the last trading session, reaching $43.62. The shares now trade at $14.23 and have been able to report a change of 9.46% over the past one week. 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.

Evercore Trust Company increased its stake in Whirlpool Corp (WHR) by 4.14% based on its latest 2017Q3 regulatory filing with the SEC. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.28. (PRGS) on Wednesday reported fiscal fourth-quarter net income of $16.4 million, after reporting a loss in the same period a year earlier. About 1.14M shares traded or 262.33% up from the average. About 975,805 shares traded or 210.73% up from the average. Whirlpool Corporation (NYSE:WHR) has risen 6.81% since January 12, 2017 and is uptrending. It has underperformed by 10.56% the S&P500.

Third Avenue Management Llc, which manages about $2.22 billion US Long portfolio, upped its stake in Myr Group Inc. There were 26 sold out positions, amounting to 1.07 million shares.

Omnicom Group Inc. (NYSE:OMC) ended its day at 74.32 with the rising stream of 2.23% and its total traded volume was 1.91 million shares less than the average volume.

Institutional investors now hold around $1.96 billion or 96.3% in PRGS stock. This represents a $0.56 dividend on an annualized basis and a yield of 1.11%. It dived, as 41 investors sold SCHW shares while 299 reduced holdings. 37 funds opened positions while 61 raised stakes. Wedbush maintained Progress Software Corporation (NASDAQ:PRGS) on Wednesday, January 18 with "Neutral" rating. Northwestern Mutual Wealth owns 8 shares. Hbk Investments L P invested in 0% or 15,153 shares. (NYSE:PRLB). Goldman Sachs holds 86,778 shares. Los Angeles Mgmt & Equity Research stated it has 71,560 shares or 0.02% of all its holdings. The shares of Sea Limited (NYSE:SE), has jumped by 6.75% year to date as of 01/11/2018. Paradigm Incorporated, a New York-based fund reported 47,250 shares. Zacks Inv reported 5,604 shares. Rock Springs Cap L P holds 1.35M shares or 1.19% of its portfolio. Royal Retail Bank Of Canada invested 0% in Progress Software Corporation (NASDAQ:PRGS). Secor Advsrs Lp stated it has 0.13% in Epizyme, Inc. They expect $0.48 EPS, up 37.14% or $0.13 from last year's $0.35 per share. PRGS's profit will be $25.82M for 23.55 P/E if the $0.54 EPS becomes a reality. The Company's OpenEdge segment offers Progress OpenEdge, a development software, which manufactures multi-language applications for secure deployment across various platforms and devices, as well as cloud; and Progress Corticon, a business rules management system that enables applications with decision automation and change process, and decision-related insight capabilities. Walleye Trading Limited Liability holds 0% of its portfolio in Progress Software Corporation (NASDAQ:PRGS) for 5,038 shares. Therefore 33% are positive.

Several brokerages have recently issued reports on PRGS. The firm earned "Buy" rating on Friday, January 15 by Benchmark. Ladenburg Thalmann downgraded the stock to "Neutral" rating in Tuesday, September 13 report. The stock of Progress Software Corporation (NASDAQ:PRGS) has "Buy" rating given on Friday, January 15 by Benchmark. TheStreet downgraded Progress Software from a b- rating to a c rating in a research note on Wednesday, January 18th. The firm has "Neutral" rating by Wedbush given on Friday, October 2. Recently, analysts have updated the overall rating to 2.5. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Therefore 30% are positive. The stock has "Hold" rating by Craig Hallum on Monday, November 27. The firm has "Top Pick" rating by RBC Capital Markets given on Tuesday, September 15. As per Friday, June 24, the company rating was maintained by Wedbush. The stock has "Sector Perform" rating by RBC Capital Markets on Tuesday, October 24. Keefe Bruyette & Woods maintained The Charles Schwab Corporation (NYSE:SCHW) on Monday, August 14 with "Buy" rating. The stock of The Charles Schwab Corporation (NYSE:SCHW) has "Buy" rating given on Thursday, March 17 by Deutsche Bank.