Atria Investments Inc Buys 663 Shares of Progress Software Co. (NASDAQ:PRGS)

Atria Investments Inc grew its stake in shares of Progress Software Co. (NASDAQ:PRGS) by 12.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,920 shares of the software maker’s stock after purchasing an additional 663 shares during the period. Atria Investments Inc’s holdings in Progress Software were worth $399,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Assetmark Inc. boosted its stake in Progress Software by 10.2% during the third quarter. Assetmark Inc. now owns 3,097 shares of the software maker’s stock worth $209,000 after acquiring an additional 286 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after acquiring an additional 43,936 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Progress Software by 22.7% during the third quarter. QRG Capital Management Inc. now owns 10,797 shares of the software maker’s stock worth $727,000 after acquiring an additional 1,996 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Progress Software by 2.8% during the third quarter. Asset Management One Co. Ltd. now owns 21,359 shares of the software maker’s stock worth $1,439,000 after acquiring an additional 583 shares in the last quarter. Finally, F M Investments LLC boosted its stake in Progress Software by 1.6% during the third quarter. F M Investments LLC now owns 125,106 shares of the software maker’s stock worth $8,429,000 after acquiring an additional 1,920 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PRGS shares. Wedbush reissued an “outperform” rating and set a $68.00 price objective on shares of Progress Software in a research note on Tuesday, September 10th. Guggenheim lifted their target price 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. DA Davidson lifted their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Oppenheimer lifted their target price on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $67.67.

Insider Buying and Selling at Progress Software

In other Progress Software news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the transaction, the insider now directly owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Anthony Folger sold 7,797 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the completion of the transaction, the chief financial officer now owns 33,774 shares of the company’s stock, valued at approximately $2,276,029.86. The trade was a 18.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Progress Software Stock Up 2.5 %

PRGS opened at $68.81 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. The firm has a 50 day moving average price of $64.70 and a 200-day moving average price of $57.71. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $69.62. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 36.79, a PEG ratio of 8.30 and a beta of 0.92.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.12. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The firm had revenue of $178.69 million during the quarter, compared to analysts’ expectations of $176.16 million. During the same period in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Progress Software Co. will post 3.96 earnings per share for the current year.

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.