Progress Software Co. (NASDAQ:PRGS) Shares Acquired by Sei Investments Co.

Sei Investments Co. raised its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 22.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,952 shares of the software maker’s stock after purchasing an additional 12,191 shares during the quarter. Sei Investments Co. owned 0.15% of Progress Software worth $4,297,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Progress Software by 45,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after buying an additional 1,140,626 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after acquiring an additional 43,936 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Progress Software by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker’s stock valued at $32,267,000 after acquiring an additional 17,448 shares in the last quarter. Cerity Partners LLC bought a new position in Progress Software during the third quarter worth $575,000. Finally, GAMMA Investing LLC boosted its holdings in Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after purchasing an additional 619 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PRGS. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday. Jefferies Financial Group raised their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. DA Davidson reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, January 21st. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Tuesday. Finally, Citigroup raised their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.17.

Progress Software Price Performance

Shares of Progress Software stock opened at $58.98 on Thursday. The firm has a fifty day moving average price of $55.75 and a two-hundred day moving average price of $62.06. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a market cap of $2.54 billion, a PE ratio of 37.81, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, compared to analyst estimates of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Analysts expect that Progress Software Co. will post 4.01 EPS for the current year.

Insider Buying and Selling at Progress Software

In other news, CAO Domenic Lococo sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the completion of the transaction, the chief accounting officer now owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were 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 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. Over the last 90 days, insiders sold 17,482 shares of company stock valued at $984,621. Corporate insiders own 3.40% of the company’s stock.

Progress Software Company 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.