Blue Trust Inc. Purchases 394 Shares of Progress Software Co. (NASDAQ:PRGS)

Blue Trust Inc. raised its position in Progress Software Co. (NASDAQ:PRGS) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the software maker’s stock after buying an additional 394 shares during the quarter. Blue Trust Inc.’s holdings in Progress Software were worth $141,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PRGS. AQR Capital Management LLC raised its position in shares of Progress Software by 98.8% in the second quarter. AQR Capital Management LLC now owns 38,950 shares of the software maker’s stock worth $2,113,000 after buying an additional 19,359 shares in the last quarter. Algert Global LLC purchased a new position in shares of Progress Software during the second quarter worth about $236,000. Creative Planning increased its position in shares of Progress Software by 50.9% in the second quarter. Creative Planning now owns 6,474 shares of the software maker’s stock worth $351,000 after purchasing an additional 2,183 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Progress Software by 19.4% in the third quarter. Handelsbanken Fonder AB now owns 9,216 shares of the software maker’s stock valued at $621,000 after purchasing an additional 1,500 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Progress Software by 76.7% during the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after purchasing an additional 485 shares during the last quarter.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the sale, the insider now owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Progress Software Stock Up 0.5 %

Shares of NASDAQ PRGS opened at $57.63 on Thursday. The firm has a fifty day simple moving average of $63.86 and a two-hundred day simple moving average of $62.45. The firm has a market capitalization of $2.50 billion, a PE ratio of 36.94, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56.

Analyst Upgrades and Downgrades

PRGS has been the topic of several research reports. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. DA Davidson reaffirmed a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, January 21st. Jefferies Financial Group increased their price objective on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Oppenheimer raised their price target 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.43.

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.