Federated Hermes Inc. Purchases 2,071 Shares of Progyny, Inc. (NASDAQ:PGNY)

Federated Hermes Inc. boosted its position in Progyny, Inc. (NASDAQ:PGNY) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,288 shares of the company’s stock after acquiring an additional 2,071 shares during the quarter. Federated Hermes Inc.’s holdings in Progyny were worth $666,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Caprock Group LLC boosted its holdings in shares of Progyny by 5.3% in the 1st quarter. Caprock Group LLC now owns 6,288 shares of the company’s stock valued at $240,000 after purchasing an additional 319 shares in the last quarter. RiverPark Advisors LLC boosted its stake in Progyny by 9.6% in the second quarter. RiverPark Advisors LLC now owns 5,408 shares of the company’s stock valued at $155,000 after buying an additional 474 shares in the last quarter. State of Michigan Retirement System boosted its stake in Progyny by 2.5% in the first quarter. State of Michigan Retirement System now owns 20,479 shares of the company’s stock valued at $781,000 after buying an additional 500 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Progyny by 9.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,260 shares of the company’s stock valued at $239,000 after acquiring an additional 543 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Progyny by 2.6% during the second quarter. Arizona State Retirement System now owns 24,313 shares of the company’s stock worth $696,000 after acquiring an additional 609 shares in the last quarter. 94.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PGNY. Truist Financial reduced their price target on shares of Progyny from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday. Cantor Fitzgerald cut their target price on shares of Progyny from $37.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday. JMP Securities cut Progyny from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $37.00 to $24.00 in a research 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.73.

Insider Activity

In related news, President Michael E. Sturmer sold 9,030 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $30.00, for a total value of $270,900.00. Following the transaction, 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 SEC, which is available through this link. In related news, President Michael E. Sturmer sold 9,030 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $30.00, for a total transaction of $270,900.00. Following the completion of the sale, the president now owns 362,583 shares of the company’s stock, valued at $10,877,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl Scott sold 1,462 shares of Progyny 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 disclosure for this sale can be found here. Insiders own 12.30% of the company’s stock.

Progyny Trading Up 1.0 %

NASDAQ PGNY opened at $16.62 on Monday. The firm has a market capitalization of $1.58 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.97 and a beta of 1.45. The business’s 50-day moving average price is $24.08 and its two-hundred day moving average price is $28.57. Progyny, Inc. has a 12 month low of $13.93 and a 12 month high of $42.08.

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

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.