Holocene Advisors LP decreased its stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 84.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,344 shares of the software maker's stock after selling 34,256 shares during the period. Holocene Advisors LP's holdings in Progress Software were worth $427,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of Progress Software by 114.1% during the 2nd quarter. SG Americas Securities LLC now owns 18,115 shares of the software maker's stock worth $983,000 after buying an additional 9,653 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Progress Software in the 2nd quarter worth about $1,692,000. Swedbank AB lifted its stake in shares of Progress Software by 144.2% in the 2nd quarter. Swedbank AB now owns 474,447 shares of the software maker's stock valued at $25,743,000 after purchasing an additional 280,195 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Progress Software by 29.2% in the 2nd quarter. Blue Trust Inc. now owns 1,640 shares of the software maker's stock valued at $87,000 after purchasing an additional 371 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in Progress Software by 10.9% during the 2nd quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker's stock worth $106,713,000 after purchasing an additional 192,899 shares in the last quarter.
A number of brokerages have weighed in on PRGS. StockNews.com raised shares of Progress Software from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Wedbush restated an "outperform" rating and set a $68.00 target price on shares of Progress Software in a report on Tuesday, September 10th. Oppenheimer increased their price target on Progress Software from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. DA Davidson boosted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Finally, Guggenheim increased their target price on Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $67.67.
Get Our Latest Stock Report on PRGS
NASDAQ:PRGS opened at $68.95 on Friday. The business's 50-day simple moving average is $66.69 and its 200 day simple moving average is $59.10. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 7.45 and a beta of 0.92. Progress Software Co. has a one year low of $48.00 and a one year high of $70.56. 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 earnings results on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $176.16 million. During the same period last year, the company posted $0.90 earnings per share. The business's revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Progress Software Co. will post 3.96 earnings per share for the current fiscal year.
In other Progress Software news, insider Ian Pitt sold 1,747 shares of Progress Software stock in a transaction dated Wednesday, October 23rd. The stock was 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 of the company's stock, valued at $206,076.69. The trade was a 35.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Anthony Folger sold 7,797 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the completion of the sale, the chief financial officer now directly owns 33,774 shares of the company's stock, valued at $2,276,029.86. This trade represents a 18.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.
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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