Progress Software Co. (NASDAQ:PRGS) Shares Acquired by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC increased its position in Progress Software Co. (NASDAQ:PRGS) by 893.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 765 shares of the software maker’s stock after purchasing an additional 688 shares during the period. Smartleaf Asset Management LLC’s holdings in Progress Software were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after buying an additional 619 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after buying an additional 301 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after buying an additional 394 shares during the last quarter. KBC Group NV raised its holdings in shares of Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after buying an additional 719 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new stake in shares of Progress Software during the third quarter valued at approximately $201,000.

Wall Street Analysts Forecast Growth

PRGS has been the topic of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and set a $75.00 price target on shares of Progress Software in a report on Tuesday, January 21st. Jefferies Financial Group upped their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Friday, January 17th. Finally, Citigroup upped their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $72.43.

Insider Buying and Selling at Progress Software

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

Progress Software Price Performance

NASDAQ PRGS opened at $56.24 on Tuesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 36.05, a P/E/G ratio of 2.82 and a beta of 0.88. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The business’s fifty day moving average is $58.66 and its two-hundred day moving average is $62.44. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

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.