Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in shares of Progress Software Co. (NASDAQ:PRGS) by 45,918.9% in the 4th quarter, Holdings Channel reports. The firm owned 1,143,110 shares of the software maker’s stock after purchasing an additional 1,140,626 shares during the period. Pacer Advisors Inc.’s holdings in Progress Software were worth $74,474,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Progress Software by 62.1% in the third quarter. Victory Capital Management Inc. now owns 111,640 shares of the software maker’s stock valued at $7,521,000 after purchasing an additional 42,773 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in Progress Software by 74.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock valued at $39,728,000 after buying an additional 251,125 shares in the last quarter. Seizert Capital Partners LLC increased its stake in shares of Progress Software by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after acquiring an additional 20,355 shares during the last quarter. Leuthold Group LLC increased its stake in shares of Progress Software by 958.1% in the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock worth $27,605,000 after acquiring an additional 371,026 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Progress Software during the 2nd quarter worth $1,378,000.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Oppenheimer lifted their target price on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Guggenheim reiterated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Friday, January 17th. Jefferies Financial Group lifted their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.43.

Progress Software Price Performance

PRGS opened at $53.00 on Monday. The stock’s 50-day moving average price is $65.69 and its 200 day moving average price is $62.46. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 6.24 and a beta of 0.93. The company has a current ratio of 0.81, a quick ratio of 1.23 and a debt-to-equity ratio of 3.48.

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.