US Bancorp DE Lowers Holdings in Progress Software Co. (NASDAQ:PRGS)

US Bancorp DE trimmed its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,808 shares of the software maker’s stock after selling 586 shares during the quarter. US Bancorp DE’s holdings in Progress Software were worth $965,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wakefield Asset Management LLLP purchased a new stake in shares of Progress Software during the fourth quarter valued at about $1,001,000. Versor Investments LP purchased a new stake in Progress Software during the fourth quarter valued at approximately $534,000. Los Angeles Capital Management LLC lifted its position in Progress Software by 967.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 35,709 shares of the software maker’s stock valued at $2,326,000 after acquiring an additional 32,364 shares during the last quarter. Olympiad Research LP acquired a new stake in Progress Software in the fourth quarter valued at approximately $230,000. Finally, Hudson Edge Investment Partners Inc. increased its position in Progress Software by 4.8% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 13,068 shares of the software maker’s stock valued at $851,000 after buying an additional 600 shares in the last quarter.

Progress Software Price Performance

Progress Software stock opened at $57.23 on Monday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.82 and a beta of 0.88. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a fifty day simple moving average of $58.84 and a 200-day simple moving average of $62.44.

Insider Buying and Selling at Progress Software

In related news, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.24, for a total value of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares in the company, valued at approximately $242,000.72. The trade was a 18.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony Folger sold 15,000 shares of the 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 transaction, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock worth $984,621 in the last three months. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of research analyst reports. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Citigroup upped their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. DA Davidson restated a “buy” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Finally, Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.