American Century Companies Inc. Reduces Stake in Progyny, Inc. (NASDAQ:PGNY)

American Century Companies Inc. lowered its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 75.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 538,078 shares of the company’s stock after selling 1,688,394 shares during the period. American Century Companies Inc. owned 0.57% of Progyny worth $15,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PGNY. Charles Schwab Investment Management Inc. increased its position in Progyny by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 644,687 shares of the company’s stock worth $23,969,000 after buying an additional 14,039 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Progyny by 14.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 844,679 shares of the company’s stock worth $31,406,000 after acquiring an additional 105,544 shares during the last quarter. Norges Bank bought a new stake in Progyny in the 4th quarter valued at about $14,198,000. Assetmark Inc. lifted its holdings in Progyny by 26.8% during the fourth quarter. Assetmark Inc. now owns 3,756 shares of the company’s stock valued at $140,000 after purchasing an additional 793 shares during the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its position in Progyny by 26.8% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 75,680 shares of the company’s stock worth $2,814,000 after purchasing an additional 15,980 shares during the period. Institutional investors own 94.93% of the company’s stock.

Progyny Trading Up 1.0 %

Shares of PGNY opened at $16.62 on Friday. Progyny, Inc. has a 12-month low of $13.93 and a 12-month high of $42.08. The company has a market cap of $1.50 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The stock has a 50-day moving average price of $24.33 and a 200-day moving average price of $28.78.

Progyny (NASDAQ:PGNY) last announced its earnings results on Tuesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $304.09 million during the quarter, compared to analyst estimates of $305.32 million. Progyny had a net margin of 5.54% and a return on equity of 11.97%. Progyny’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. As a group, analysts predict that Progyny, Inc. will post 0.64 earnings per share for the current year.

Insider Transactions at Progyny

In other Progyny news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the sale, the president now owns 362,583 shares in the company, valued at $10,877,490. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Progyny news, Director Cheryl Scott sold 1,462 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $28.39, for a total value of $41,506.18. Following the completion of the sale, the director now owns 10,098 shares of the company’s stock, valued at $286,682.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Michael E. Sturmer sold 9,030 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total transaction of $270,900.00. Following the transaction, the president now owns 362,583 shares in the company, valued at $10,877,490. The disclosure for this sale can be found here. 12.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PGNY shares. BTIG Research lowered shares of Progyny from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group dropped their target price on Progyny from $31.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday. Truist Financial reduced their price target on Progyny from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday. Leerink Partners dropped their price objective on Progyny from $25.00 to $21.00 and set a “market perform” rating on the stock in a report on Thursday. Finally, Leerink Partnrs lowered Progyny from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Progyny presently has a consensus rating of “Hold” and a consensus target price of $27.73.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.