Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in Progress Software Co. (NASDAQ:PRGS) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 478,945 shares of the software maker’s stock after acquiring an additional 17,448 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.12% of Progress Software worth $32,267,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Boston Trust Walden Corp lifted its holdings in shares of Progress Software by 10.9% in the 2nd quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker’s stock worth $106,713,000 after acquiring an additional 192,899 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Progress Software by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker’s stock worth $76,465,000 after buying an additional 34,318 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after buying an additional 43,936 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Progress Software by 11.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock worth $64,985,000 after buying an additional 99,479 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in Progress Software by 3.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after buying an additional 20,355 shares in the last quarter.

Progress Software Trading Up 0.5 %

Shares of NASDAQ:PRGS opened at $68.67 on Wednesday. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The company’s 50 day moving average is $66.23 and its two-hundred day moving average is $58.66. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87. The company has a market cap of $2.95 billion, a PE ratio of 36.72, a P/E/G ratio of 7.29 and a beta of 0.92.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $176.16 million. During the same period last year, the firm posted $0.90 EPS. The company’s revenue was up 1.7% on a year-over-year basis. Equities analysts predict that Progress Software Co. will post 3.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PRGS shares. Oppenheimer increased 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. Guggenheim increased 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. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. DA Davidson increased 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. Finally, Wedbush reiterated an “outperform” rating and set a $68.00 target price on shares of Progress Software in a report on Tuesday, September 10th. One investment 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 data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $67.67.

Insider Activity

In related news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction 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 sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 7,797 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 33,774 shares in the company, valued at $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. Company insiders own 3.30% 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.