Ironwood Investment Management Stake in Progress Software (PRGS) Has Lowered by $1.13 Million; Baidu Adr Rep One Cl A (BIDU) Shareholder Night Owl Capital Management Decreased Its Holding by $1.59 Million as Share Value Rose

February 21, 2018 - By Hazel Jackson

Ironwood Investment Management Llc decreased its stake in Progress Software Corp (PRGS) by 84.74% based on its latest 2017Q3 regulatory filing with the SEC. Ironwood Investment Management Llc sold 29,705 shares as the company’s stock declined 0.96% while stock markets rallied. The institutional investor held 5,350 shares of the prepackaged software company at the end of 2017Q3, valued at $204,000, down from 35,055 at the end of the previous reported quarter. Ironwood Investment Management Llc who had been investing in Progress Software Corp for a number of months, seems to be less bullish one the $2.29B market cap company. The stock increased 3.11% or $1.49 during the last trading session, reaching $49.39. About 301,995 shares traded. Progress Software Corporation (NASDAQ:PRGS) has risen 15.05% since February 21, 2017 and is uptrending. It has underperformed by 1.65% the S&P500.

John Kim decreased its stake in Baidu Adr Rep One Cl A (BIDU) by 27.51% based on its latest 2017Q3 regulatory filing with the SEC. Night Owl Capital Management Llc sold 6,432 shares as the company’s stock rose 1.94% with the market. The hedge fund run by John Kim held 16,945 shares of the technology company at the end of 2017Q3, valued at $4.20 million, down from 23,377 at the end of the previous reported quarter. Night Owl Capital Management Llc who had been investing in Baidu Adr Rep One Cl A for a number of months, seems to be less bullish one the $87.59 billion market cap company. The stock increased 2.51% or $6.16 during the last trading session, reaching $251.59. About 1.08M shares traded. Baidu, Inc. (NASDAQ:BIDU) has risen 12.02% since February 21, 2017 and is uptrending. It has underperformed by 4.68% the S&P500.

Night Owl Capital Management Llc, which manages about $517.84 million and $206.94 million US Long portfolio, upped its stake in First Data Corp by 126,176 shares to 465,644 shares, valued at $8.40 million in 2017Q3, according to the filing.

Among 24 analysts covering Baidu (NASDAQ:BIDU), 9 have Buy rating, 3 Sell and 12 Hold. Therefore 38% are positive. Baidu had 61 analyst reports since July 28, 2015 according to SRatingsIntel. Morgan Stanley upgraded the stock to “Overweight” rating in Thursday, February 15 report. The firm has “Buy” rating given on Friday, October 27 by Jefferies. The firm has “Buy” rating given on Friday, July 28 by Macquarie Research. The rating was downgraded by Credit Suisse on Friday, October 28 to “Neutral”. Nomura downgraded Baidu, Inc. (NASDAQ:BIDU) on Monday, January 29 to “Hold” rating. On Monday, June 19 the stock rating was maintained by Jefferies with “Buy”. The firm has “Sell” rating by Bernstein given on Friday, July 14. Jefferies maintained Baidu, Inc. (NASDAQ:BIDU) rating on Friday, October 20. Jefferies has “Buy” rating and $305.0 target. Jefferies maintained it with “Buy” rating and $203 target in Thursday, May 12 report. The company was downgraded on Tuesday, July 28 by KeyBanc Capital Markets.

Analysts await Baidu, Inc. (NASDAQ:BIDU) to report earnings on April, 26. They expect $1.11 earnings per share, up 68.18% or $0.45 from last year’s $0.66 per share. BIDU’s profit will be $386.46 million for 56.66 P/E if the $1.11 EPS becomes a reality. After $1.90 actual earnings per share reported by Baidu, Inc. for the previous quarter, Wall Street now forecasts -41.58% negative EPS growth.

Analysts await Progress Software Corporation (NASDAQ:PRGS) to report earnings on April, 4. They expect $0.38 earnings per share, up 22.58% or $0.07 from last year’s $0.31 per share. PRGS’s profit will be $17.63M for 32.49 P/E if the $0.38 EPS becomes a reality. After $0.60 actual earnings per share reported by Progress Software Corporation for the previous quarter, Wall Street now forecasts -36.67% negative EPS growth.

Investors sentiment decreased to 1.14 in Q3 2017. Its down 0.35, from 1.49 in 2017Q2. It dropped, as 17 investors sold PRGS shares while 69 reduced holdings. 37 funds opened positions while 61 raised stakes. 43.39 million shares or 0.11% more from 43.35 million shares in 2017Q2 were reported. Quantbot Technology Lp owns 17,932 shares. Swiss Natl Bank has invested 0% of its portfolio in Progress Software Corporation (NASDAQ:PRGS). Moreover, First Quadrant LP Ca has 0.05% invested in Progress Software Corporation (NASDAQ:PRGS). Capital Fund Sa stated it has 0.01% of its portfolio in Progress Software Corporation (NASDAQ:PRGS). Dimensional Fund Lp holds 0.03% or 1.80M shares in its portfolio. University Of Notre Dame Du Lac reported 1.55% in Progress Software Corporation (NASDAQ:PRGS). Oberweis Asset holds 0.1% or 9,560 shares in its portfolio. Global Endowment Mngmt Ltd Partnership holds 14,270 shares or 0.08% of its portfolio. Gotham Asset Mngmt Lc owns 0.11% invested in Progress Software Corporation (NASDAQ:PRGS) for 194,081 shares. Amp Invsts owns 11,920 shares or 0% of their US portfolio. Virginia Retirement Et Al holds 11,600 shares. Eaton Vance holds 0.01% or 90,085 shares in its portfolio. Cornerstone Management Ltd Liability Co reported 26,700 shares stake. Goldman Sachs Gru has invested 0% in Progress Software Corporation (NASDAQ:PRGS). Savings Bank Of Montreal Can holds 73,022 shares or 0% of its portfolio.

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