Vanguard Group Inc. Has $300.51 Million Stake in Progress Software Co. (NASDAQ:PRGS)

Vanguard Group Inc. boosted its position in Progress Software Co. (NASDAQ:PRGS) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,534,242 shares of the software maker’s stock after buying an additional 37,487 shares during the period. Vanguard Group Inc. owned approximately 12.61% of Progress Software worth $300,509,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PRGS. GAMMA Investing LLC acquired a new position in Progress Software in the fourth quarter valued at $28,000. Orion Capital Management LLC acquired a new position in Progress Software in the third quarter valued at $41,000. Blue Trust Inc. lifted its holdings in Progress Software by 24.1% in the fourth quarter. Blue Trust Inc. now owns 1,231 shares of the software maker’s stock valued at $65,000 after buying an additional 239 shares during the period. Principal Securities Inc. acquired a new position in Progress Software in the fourth quarter valued at $68,000. Finally, TFO Wealth Partners LLC lifted its holdings in Progress Software by 225,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,252 shares of the software maker’s stock valued at $122,000 after buying an additional 2,251 shares during the period.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 3,767 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $50.50, for a total value of $190,233.50. Following the completion of the sale, the chief financial officer now directly owns 37,542 shares of the company’s stock, valued at approximately $1,895,871. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Progress Software news, EVP John Ainsworth sold 30,631 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $51.03, for a total value of $1,563,099.93. Following the completion of the sale, the executive vice president now directly owns 32,002 shares of the company’s stock, valued at approximately $1,633,062.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony Folger sold 3,767 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $50.50, for a total transaction of $190,233.50. Following the completion of the sale, the chief financial officer now directly owns 37,542 shares of the company’s stock, valued at $1,895,871. The disclosure for this sale can be found here. Insiders have sold 55,761 shares of company stock worth $2,841,941 in the last quarter. Insiders own 3.40% of the company’s stock.

Progress Software Trading Up 0.0 %

PRGS opened at $54.26 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.95. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $62.34. The firm has a market capitalization of $2.35 billion, a PE ratio of 33.09, a P/E/G ratio of 7.05 and a beta of 0.93. The company’s 50-day moving average is $50.61 and its 200 day moving average is $53.00.

Progress Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be issued a $0.175 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.29%. Progress Software’s dividend payout ratio is presently 42.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PRGS shares. Guggenheim reiterated a “buy” rating and set a $64.00 price objective on shares of Progress Software in a report on Tuesday, June 25th. JPMorgan Chase & Co. dropped their price objective on shares of Progress Software from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. DA Davidson reiterated a “buy” rating and set a $65.00 price objective on shares of Progress Software in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $66.00 price objective on shares of Progress Software in a report on Wednesday. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $63.14.

Progress Software Profile

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.