Paradice Dumped Its Entire $15.2 Million Progressive Software Stake
Key Points
Sold 238,145 shares, with the estimated transaction value of $15.20 million
This change represented 3.41% of reportable 13F assets under management.
Post-trade stake is zero shares, valued at $0
Previously, the position represented 3.1% of the fund's AUM as of Q3 2025
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What happened
Paradice Investment Management LLC disclosed in its quarterly report to the U.S. Securities and Exchange Commission, available here, that it sold all 238,145 shares of Progress Software Corporation (NASDAQ:PRGS) in the period. The estimated value of the trade was $15.20 million, based on the average price for the quarter. The position, which previously accounted for 3.1% of Paradice's reportable assets as of September 30, 2025, has now been fully closed.
What else to know
The sale represents a complete exit from Progress Software, with the company now accounting for 0% of Paradice's 13F assets under management
Top holdings after the filing:
NYSE: GMED: $37.97 million (8.5% of AUM) as of September 30, 2025
NYSE: NVST: $36.81 million (8.3% of AUM) as of September 30, 2025
NYSE: LEA: $32.28 million (7.2% of AUM) as of September 30, 2025
NYSE: MHK: $30.58 million (6.9% of AUM) as of September 30, 2025
NYSE: GNRC: $30.35 million (6.8% of AUM) as of September 30, 2025
As of October 20, 2025, shares of Progress Software Corporation were priced at $45.02, underperforming the S&P 500 by 47.43 percentage points
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 10/24/25) | $46.01 |
| Market Capitalization | $1.97 billion |
| Revenue (TTM) | $940.13 million |
| Net Income (TTM) | $48.53 million |
Company Snapshot
Offers a portfolio of software solutions, including OpenEdge (application development), Sitefinity (web content management), DataDirect Connect (data connectivity), MOVEit (secure file transfer), Chef (infrastructure automation), and network monitoring tools.
Serves end users, independent software vendors, original equipment manufacturers, and system integrators across North America, EMEA, Asia Pacific, and Latin America.
Maintains a global presence with operations in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific.
Progress Software Corporation is a technology company specializing in enterprise application development, automation, and infrastructure management solutions. The company leverages a diversified software portfolio to address complex business needs across multiple industries and geographies. Its strategy emphasizes product innovation and maintaining a broad customer base
Foolish take
Progress Software was one of seven positions that Paradice Investment Management dispatched during the third quarter. At $15.2 million, it was the fourth-largest sale that the fund made during the quarter.
It wasn't an enormous change of heart for Paradice. At the end of June, Progress Software was its 17th largest holding out of 26 holdings in total.
Progress helps its customers accelerate the creation and delivery of business applications. It also automates the process its customers use to configure, deploy, and scale their apps.
Fear of missing out on the artificial intelligence revolution is driving tremendous growth for Progress Software. The company reported annualized recurring revenue that shot 47% higher year over year during its fiscal third quarter that ended on Aug. 31, 2025. A management team encouraged by a better-than-expected fiscal third quarter raised its full-year revenue guidance range to $975 million and $981 million.
Glossary
13F assets under management: The value of securities a fund manager must report quarterly to the SEC on Form 13F.
AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
Quarterly report: A financial statement filed every three months, detailing a company's or fund's performance and holdings.
Stake: The ownership interest or position held in a company by an investor or fund.
Original Equipment Manufacturer (OEM): A company that produces parts or equipment used in another company's end products.
System integrator: A business that combines different technology products and services into a unified solution for clients.
EMEA: Geographic region including Europe, the Middle East, and Africa.
TTM: The 12-month period ending with the most recent quarterly report.
Portfolio: A collection of investments held by an individual or institution.
Infrastructure automation: Technology that automates IT infrastructure tasks, such as server setup and software deployment.
Data connectivity: The ability of software or systems to access, transfer, and use data from various sources.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Globus Medical. The Motley Fool has a disclosure policy.
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