EMC Capital Management Reduces Stake in Progress Software Co. as Investor Sentiment Shifts

EMC Capital Management has significantly reduced its stake in shares of Progress Software Co. by 81.9% in the third quarter, according to its recent filing with the Securities and Exchange Commission. The fund now owns only 4,984 shares of the software maker’s stock after selling 22,528 shares during the quarter, reflecting a change in investor sentiment towards the company.

This move by EMC Capital Management is in line with several other institutional investors who have also modified their holdings of Progress Software. Headlands Technologies LLC purchased a new stake in the company during the same quarter, while Federated Hermes Inc., Ronald Blue Trust Inc., and West Tower Group LLC have increased their positions in the software maker. Strs Ohio has also raised its position in Progress Software in the second quarter. These actions by institutional investors indicate that the market perception of Progress Software is shifting.

In terms of insider transactions, EVP Sundar Subramanian recently sold 2,475 shares of the company’s stock, while CEO Yogesh K. Gupta sold 40,174 shares. These insider sales further indicate a change in the company’s outlook.

Progress Software’s stock performance has been relatively stable, trading at $57.08 as of Monday. The company has a market cap of $2.50 billion and a price-to-earnings ratio of 36.63. Its revenue has shown positive growth, with a 11.5% increase compared to the same quarter last year.

While Progress Software recently declared a quarterly dividend, it is important for investors to consider the evolving sentiment surrounding the company before making any investment decisions.

Overall, EMC Capital Management’s reduced stake in Progress Software, along with other institutional investors modifying their holdings, suggests a shift in investor sentiment towards the company. It is crucial for investors to stay updated on the latest developments and market sentiment before making any investment decisions regarding Progress Software.

FAQ:

1. What is the recent change in EMC Capital Management’s stake in Progress Software?
– EMC Capital Management has reduced its stake in shares of Progress Software by 81.9% in the third quarter.

2. How many shares of Progress Software does EMC Capital Management currently own?
– EMC Capital Management now owns only 4,984 shares of Progress Software’s stock.

3. How has investor sentiment towards Progress Software changed?
– Institutional investors, including EMC Capital Management, have been modifying their holdings of Progress Software, indicating a shift in investor sentiment towards the company.

4. Which institutional investors have modified their holdings of Progress Software?
– Headlands Technologies LLC purchased a new stake in the company, while Federated Hermes Inc., Ronald Blue Trust Inc., and West Tower Group LLC have increased their positions in Progress Software. Strs Ohio also raised its position in the company in the second quarter.

5. What insider transactions have recently occurred in Progress Software?
– EVP Sundar Subramanian sold 2,475 shares of the company’s stock, and CEO Yogesh K. Gupta sold 40,174 shares, indicating a change in the company’s outlook.

6. What is the current stock performance of Progress Software?
– As of Monday, Progress Software’s stock is trading at $57.08.

7. What is the market cap and price-to-earnings ratio of Progress Software?
– Progress Software has a market cap of $2.50 billion and a price-to-earnings ratio of 36.63.

8. Has Progress Software shown revenue growth?
– Yes, Progress Software’s revenue has shown positive growth, with an 11.5% increase compared to the same quarter last year.

9. Did Progress Software recently declare a dividend?
– Yes, Progress Software recently declared a quarterly dividend.

Definitions:

– Stake: The amount of ownership or interest held by an investor in a company’s shares.
– Institutional investors: Large entities such as investment banks, pension funds, and mutual funds that invest large sums of money on behalf of many individuals.
– Market cap: The total value of a company’s outstanding shares of stock, calculated by multiplying the stock’s price by the number of outstanding shares.
– Price-to-earnings ratio: A financial ratio that compares a company’s stock price to its earnings per share, indicating the market’s expectations for the company’s future earnings growth.

Suggested Links:
Progress Software Official Website
Securities and Exchange Commission (SEC)