New York State Teachers Retirement System Acquires 3,836 Shares of Progress Software Co. (NASDAQ:PRGS)

New York State Teachers Retirement System grew its position in shares of Progress Software Co. (NASDAQ:PRGS) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,750 shares of the software maker’s stock after buying an additional 3,836 shares during the period. New York State Teachers Retirement System owned approximately 0.19% of Progress Software worth $5,261,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PRGS. Pacer Advisors Inc. increased its position in Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after buying an additional 1,140,626 shares during the period. Leuthold Group LLC increased its position in Progress Software by 958.1% during the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock worth $27,605,000 after buying an additional 371,026 shares during the period. Segall Bryant & Hamill LLC increased its position in Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after buying an additional 251,125 shares during the period. Citigroup Inc. increased its position in Progress Software by 42.8% during the 3rd quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock worth $33,172,000 after buying an additional 147,457 shares during the period. Finally, Systematic Financial Management LP grew its holdings in shares of Progress Software by 10.5% during the 3rd quarter. Systematic Financial Management LP now owns 544,417 shares of the software maker’s stock worth $36,677,000 after purchasing an additional 51,568 shares in the last quarter.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of Progress Software 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Domenic Lococo sold 1,000 shares of Progress Software 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 $242,000.72. The trade was a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock valued at $984,621 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PRGS. DA Davidson reissued a “buy” rating and set a $75.00 target price on shares of Progress Software in a report on Tuesday, January 21st. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Guggenheim reissued a “buy” rating and set a $83.00 target price on shares of Progress Software in a report on Friday, January 17th. Finally, Citigroup increased their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a 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. Based on data from MarketBeat.com, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Progress Software Stock Performance

NASDAQ:PRGS opened at $56.56 on Friday. The stock’s 50-day simple moving average is $61.34 and its 200 day simple moving average is $62.42. The firm has a market capitalization of $2.45 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 2.88 and a beta of 0.93. 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 twelve month low of $48.00 and a twelve month high of $70.56.

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.