Blue Trust Inc. Sells 229 Shares of Progress Software Co. (NASDAQ:PRGS)

Blue Trust Inc. trimmed its position in shares of Progress Software Co. (NASDAQ:PRGS) by 13.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,468 shares of the software maker’s stock after selling 229 shares during the period. Blue Trust Inc.’s holdings in Progress Software were worth $96,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning boosted its holdings in shares of Progress Software by 20.1% in the third quarter. Creative Planning now owns 7,774 shares of the software maker’s stock worth $524,000 after acquiring an additional 1,300 shares during the period. Foundations Investment Advisors LLC bought a new position in shares of Progress Software in the third quarter worth $248,000. GHP Investment Advisors Inc. boosted its holdings in shares of Progress Software by 12.5% in the third quarter. GHP Investment Advisors Inc. now owns 100,380 shares of the software maker’s stock worth $6,763,000 after acquiring an additional 11,138 shares during the period. Leuthold Group LLC boosted its holdings in shares of Progress Software by 958.1% in the third quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock worth $27,605,000 after acquiring an additional 371,026 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Progress Software by 9.7% in the third quarter. Rice Hall James & Associates LLC now owns 138,091 shares of the software maker’s stock worth $9,303,000 after acquiring an additional 12,261 shares during the period.

Analyst Ratings Changes

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

Progress Software Price Performance

NASDAQ:PRGS opened at $55.10 on Friday. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 35.32, a P/E/G ratio of 2.82 and a beta of 0.93. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The stock has a fifty day moving average of $61.06 and a 200 day moving average of $62.46. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

Insider Buying and Selling at Progress Software

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $83,881.20. Following the sale, the insider now owns 7,613 shares in the company, valued at $430,895.80. The trade was a 16.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock worth $984,621 over the last 90 days. Corporate insiders own 3.40% 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.