KBC Group NV Has $152,000 Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

KBC Group NV boosted its position in Progress Software Co. (NASDAQ:PRGS) by 44.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,335 shares of the software maker’s stock after buying an additional 719 shares during the period. KBC Group NV’s holdings in Progress Software were worth $152,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of 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 purchasing an additional 286 shares during the period. TD Private Client Wealth LLC increased its stake in Progress Software by 19.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. raised its holdings in Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after buying an additional 394 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Progress Software by 76.7% in the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after buying an additional 485 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Progress Software by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after buying an additional 523 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the sale, the insider now directly owns 7,613 shares in the company, valued at $430,895.80. The trade was a 16.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Domenic Lococo sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the sale, the chief accounting officer now owns 4,303 shares in the company, valued at $242,000.72. This represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,482 shares of company stock worth $984,621. 3.30% of the stock is currently owned by company insiders.

Progress Software Price Performance

Shares of Progress Software stock opened at $57.22 on Friday. The company’s fifty day simple moving average is $63.65 and its two-hundred day simple moving average is $62.42. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The firm has a market cap of $2.48 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Citigroup raised their target price on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Guggenheim reiterated a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. Finally, DA Davidson restated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.43.

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.