Creative Planning Has $351,000 Stock Position in Progress Software Co. (NASDAQ:PRGS)

Creative Planning grew its position in Progress Software Co. (NASDAQ:PRGS) by 50.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,474 shares of the software maker’s stock after purchasing an additional 2,183 shares during the period. Creative Planning’s holdings in Progress Software were worth $351,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Progress Software by 79.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 708,324 shares of the software maker’s stock valued at $37,761,000 after buying an additional 312,537 shares in the last quarter. Swedbank AB grew its position in Progress Software by 144.2% in the second quarter. Swedbank AB now owns 474,447 shares of the software maker’s stock worth $25,743,000 after acquiring an additional 280,195 shares in the last quarter. Marshall Wace LLP grew its position in Progress Software by 530.5% in the second quarter. Marshall Wace LLP now owns 263,062 shares of the software maker’s stock worth $14,274,000 after acquiring an additional 221,336 shares in the last quarter. Boston Trust Walden Corp increased its stake in shares of 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 during the last quarter. Finally, F M Investments LLC bought a new position in shares of Progress Software during the 2nd quarter valued at $6,684,000.

Progress Software Stock Performance

PRGS opened at $66.33 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. The stock’s 50 day moving average price is $60.27 and its two-hundred day moving average price is $55.07. The firm has a market capitalization of $2.84 billion, a P/E ratio of 40.45, a price-to-earnings-growth ratio of 8.44 and a beta of 0.92. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $67.89.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.12. The business had revenue of $178.69 million for the quarter, compared to the consensus estimate of $176.16 million. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. Progress Software’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.90 earnings per share. On average, equities analysts forecast that Progress Software Co. will post 3.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Oppenheimer upped their price target on Progress Software from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. DA Davidson raised their price objective on Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $68.00 target price on shares of Progress Software in a research report on Tuesday, September 10th. Finally, StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Progress Software presently has an average rating of “Buy” and an average target price of $66.00.

Progress Software Company 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.