BlackRock Amends PROGRESS SOFTWARE Stake, Signals Passive Investment
Ticker: PRGS · Form: SC 13G/A · Filed: Jan 22, 2024 · CIK: 876167
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock updated its Progress Software holdings, still a passive investor.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 22, 2024, indicating its ownership of Common Stock in PROGRESS SOFTWARE CORP /MA as of December 31, 2023. This filing, an Amendment No. 4, updates previous disclosures about BlackRock's passive investment in the company. For investors, this matters because BlackRock is a major institutional investor, and changes in its holdings can signal its confidence (or lack thereof) in the company's future performance, potentially influencing other investors.
Why It Matters
This filing shows BlackRock's continued, albeit passive, interest in Progress Software, which can be a vote of confidence for current and prospective shareholders.
Risk Assessment
Risk Level: low — This is a routine amendment from a large institutional investor, indicating no immediate significant risk or change in investment strategy.
Analyst Insight
Investors should note BlackRock's continued passive stake, but this filing alone doesn't suggest a need for immediate action. It's a routine update from a major holder.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- PROGRESS SOFTWARE CORP /MA (company) — the issuer of the securities
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, specifically Amendment No. 4, filed under Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., a large institutional investment manager based at 50 Hudson Yards, New York, NY.
What company's securities are the subject of this filing?
The subject company is PROGRESS SOFTWARE CORP /MA, which issues Common Stock with CUSIP Number 743312100.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023.
What is the business address of PROGRESS SOFTWARE CORP /MA?
The business address for PROGRESS SOFTWARE CORP /MA is 15 Wayside Road, Suite 400, Burlington, MA 01803.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding PROGRESS SOFTWARE CORP /MA (PRGS).