Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Atria Investments Inc

Atria Investments Inc increased its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 34.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,954 shares of the software maker’s stock after acquiring an additional 2,034 shares during the period. Atria Investments Inc’s holdings in Progress Software were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRGS. Pacer Advisors Inc. grew its holdings 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 worth $74,474,000 after acquiring an additional 1,140,626 shares during the period. Segall Bryant & Hamill LLC boosted its position in Progress Software by 74.2% during the third quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after purchasing an additional 251,125 shares in the last quarter. Citigroup Inc. boosted its position in Progress Software by 42.8% during the third quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock worth $33,172,000 after purchasing an additional 147,457 shares in the last quarter. Systematic Financial Management LP boosted its position in Progress Software by 10.5% during the third 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. Finally, Principal Financial Group Inc. boosted its position in Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after purchasing an additional 43,936 shares in the last quarter.

Progress Software Stock Performance

NASDAQ PRGS opened at $55.23 on Friday. The business’s 50-day moving average price is $57.83 and its 200 day moving average price is $62.32. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The company has a market capitalization of $2.40 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the sale, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This represents a 18.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the sale, the insider now owns 7,613 shares of the company’s stock, valued at $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,482 shares of company stock worth $984,621. 3.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.