GAMMA Investing LLC Has $75,000 Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

GAMMA Investing LLC lifted its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 76.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,117 shares of the software maker’s stock after acquiring an additional 485 shares during the period. GAMMA Investing LLC’s holdings in Progress Software were worth $75,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Progress Software by 29.2% during the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker’s stock valued at $87,000 after purchasing an additional 371 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Progress Software during the 2nd quarter worth about $27,000. Rehmann Capital Advisory Group raised its stake in shares of Progress Software by 9.7% in the first quarter. Rehmann Capital Advisory Group now owns 6,782 shares of the software maker’s stock worth $362,000 after acquiring an additional 602 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Progress Software by 8.7% during the first quarter. ProShare Advisors LLC now owns 8,888 shares of the software maker’s stock valued at $474,000 after purchasing an additional 714 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in Progress Software by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,403 shares of the software maker’s stock worth $2,047,000 after purchasing an additional 769 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on PRGS. Oppenheimer lifted their price objective on Progress Software from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Jefferies Financial Group reduced their price objective on shares of Progress Software from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Wednesday, June 26th. DA Davidson upped their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Guggenheim lifted their price target on shares of Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and issued a $68.00 price objective on shares of Progress Software in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $66.00.

Progress Software Trading Up 0.6 %

PRGS opened at $66.62 on Wednesday. The stock has a market capitalization of $2.85 billion, a P/E ratio of 40.62, a P/E/G ratio of 8.44 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 1.87. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $67.48. The firm’s fifty day simple moving average is $59.83 and its 200 day simple moving average is $54.90.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.12. The company had revenue of $178.69 million during the quarter, compared to analysts’ expectations of $176.16 million. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. Progress Software’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, research analysts anticipate that Progress Software Co. will post 3.95 EPS for the current fiscal year.

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.