Inspire Investing LLC Has $397,000 Holdings in Progress Software Co. (NASDAQ:PRGS)

Inspire Investing LLC trimmed its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,315 shares of the software maker’s stock after selling 250 shares during the period. Inspire Investing LLC’s holdings in Progress Software were worth $397,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Progress Software by 29.2% during the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker’s stock worth $87,000 after purchasing an additional 371 shares in the last quarter. EntryPoint Capital LLC raised its position in Progress Software by 993.5% in the 1st quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker’s stock worth $116,000 after purchasing an additional 1,977 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in Progress Software by 225,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,252 shares of the software maker’s stock worth $122,000 after buying an additional 2,251 shares in the last quarter. Quest Partners LLC bought a new position in Progress Software in the 2nd quarter valued at $160,000. Finally, Assetmark Inc. increased its stake in shares of Progress Software by 19.5% in the 4th quarter. Assetmark Inc. now owns 3,300 shares of the software maker’s stock valued at $179,000 after buying an additional 539 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PRGS shares. Guggenheim reaffirmed a “buy” rating and set a $64.00 price target on shares of Progress Software in a research note on Tuesday, June 25th. Jefferies Financial Group lowered their price target on shares of Progress Software from $60.00 to $55.00 and set a “hold” rating for the company in a research report on Wednesday, June 26th. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of Progress Software in a research note on Wednesday, June 26th. Finally, Wedbush reiterated an “outperform” rating and set a $68.00 target price on shares of Progress Software in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.50.

Progress Software Stock Down 0.1 %

Shares of NASDAQ:PRGS opened at $57.59 on Friday. The company has a 50 day moving average price of $57.08 and a two-hundred day moving average price of $53.50. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.95 and a current ratio of 1.12. The company has a market capitalization of $2.46 billion, a PE ratio of 35.12, a PEG ratio of 7.45 and a beta of 0.91. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $60.33.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, June 25th. The software maker reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13. The business had revenue of $175.08 million during the quarter, compared to analysts’ expectations of $168.60 million. Progress Software had a net margin of 10.29% and a return on equity of 36.88%. Analysts forecast that Progress Software Co. will post 3.91 earnings per share for the current year.

Insider Activity

In related news, insider Ian Pitt sold 584 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $55.00, for a total transaction of $32,120.00. Following the completion of the sale, the insider now directly owns 3,167 shares of the company’s stock, valued at approximately $174,185. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Progress Software news, insider Kathryn Kulikoski sold 2,918 shares of Progress Software stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $54.09, for a total value of $157,834.62. Following the sale, the insider now owns 4,142 shares of the company’s stock, valued at approximately $224,040.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ian Pitt sold 584 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $55.00, for a total value of $32,120.00. Following the completion of the sale, the insider now owns 3,167 shares in the company, valued at $174,185. The disclosure for this sale can be found here. Insiders have sold 13,763 shares of company stock worth $765,004 in the last 90 days. 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.