Seizert Capital Partners LLC raised its stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 645,132 shares of the software maker's stock after purchasing an additional 20,355 shares during the period. Progress Software accounts for 2.0% of Seizert Capital Partners LLC's portfolio, making the stock its 19th largest position. Seizert Capital Partners LLC owned about 1.50% of Progress Software worth $43,463,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of PRGS. State Board of Administration of Florida Retirement System increased its holdings in shares of Progress Software by 63.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,115 shares of the software maker's stock worth $1,960,000 after buying an additional 13,185 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Progress Software by 4.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 491,484 shares of the software maker's stock valued at $25,908,000 after purchasing an additional 19,256 shares in the last quarter. Swedbank AB purchased a new stake in shares of Progress Software during the 1st quarter worth about $10,356,000. Wedge Capital Management L L P NC acquired a new stake in Progress Software during the 2nd quarter worth approximately $1,692,000. Finally, Lombard Odier Asset Management USA Corp purchased a new position in Progress Software in the second quarter valued at approximately $494,000.

Progress Software Stock Down 1.1 %

Progress Software stock opened at $66.51 on Friday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 35.57, a P/E/G ratio of 8.39 and a beta of 0.92. The company has a 50-day simple moving average of $63.91 and a 200-day simple moving average of $57.30. Progress Software Co. has a one year low of $48.00 and a one year high of $68.95. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings results on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The company had revenue of $178.69 million for the quarter, compared to analyst estimates of $176.16 million. During the same quarter last year, the business earned $0.90 earnings per share. Progress Software's revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that Progress Software Co. will post 3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PRGS shares. Oppenheimer raised their target price on shares of Progress Software from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. DA Davidson boosted their price target on Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Guggenheim increased their price objective on shares of Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Wedbush reissued an "outperform" rating and set a $68.00 target price on shares of Progress Software in a research report on Tuesday, September 10th. Finally, StockNews.com upgraded Progress Software from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Progress Software currently has an average rating of "Buy" and an average price target of $67.67.

In other news, CFO Anthony Folger sold 7,797 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total value of $525,439.83. Following the completion of the transaction, the chief financial officer now directly owns 33,774 shares in the company, valued at $2,276,029.86. This trade represents a 18.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ian Pitt sold 1,747 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the transaction, the insider now owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

About Progress Software (

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.

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