SCHEDULE: BlackRock Discloses 15.3% Beneficial Ownership in Progress Software
Beneficial Ownership Report
BlackRock, Inc. has filed an amended Schedule 13G, reporting a beneficial ownership of 15.3% in Progress Software Corp., totaling 6,584,194 shares of common stock.
Summary
- BlackRock, Inc. beneficially owns 6,584,194 shares of Progress Software Corp. common stock.
- This ownership represents 15.3% of the class of securities.
- BlackRock, Inc. holds sole voting power over 6,502,890 shares and sole dispositive power over 6,584,194 shares.
- No shared voting or dispositive power is reported.
- The filing indicates that iShares Core S&P Small-Cap ETF, an entity associated with BlackRock, holds more than 5% of the total outstanding common stock of Progress Software Corp.
Sentiment
Score: 6
Explanation: The sentiment is moderately positive as the filing indicates a significant and continued institutional investment by BlackRock, which can be viewed as a vote of confidence in the issuer, Progress Software Corp.
Positives
- The significant beneficial ownership by a major institutional investor like BlackRock, Inc. may signal confidence in Progress Software Corp.'s long-term prospects.
- A substantial institutional stake can enhance market liquidity and investor interest in the company's stock.
Future Outlook
NA
Industry Context
Schedule 13G filings are mandatory disclosures by institutional investors who acquire more than 5% of a company's voting shares, indicating passive investment intent rather than an attempt to control the company. BlackRock, as one of the world's largest asset managers, frequently files such reports as part of its ordinary course of business, reflecting its broad investment mandates across various funds and portfolios.
Stakeholder Impact
- Shareholders: The disclosure of a significant institutional stake by BlackRock may positively influence investor perception and potentially increase trading liquidity for Progress Software Corp. shares.
Key Dates
| Date | Description |
|---|---|
| 04/30/2023 | Date of previous Power of Attorney revoked by the new Power of Attorney. |
| 01/21/2025 | Execution date of the new Power of Attorney for BlackRock, Inc. |
| 06/30/2025 | Date of event which requires the filing of this statement. |
| 07/18/2025 | Signature date of the Schedule 13G filing by BlackRock, Inc. |
Keywords
BlackRock, Progress Software, Schedule 13G, beneficial ownership, common stock, institutional investment, SEC filing
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