Progress Software Co. (NASDAQ:PRGS) CFO Anthony Folger Sells 15,000 Shares

Progress Software Co. (NASDAQ:PRGS) CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the completion of the sale, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Progress Software Trading Up 1.2 %

Shares of Progress Software stock opened at $57.33 on Wednesday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $2.49 billion, a P/E ratio of 36.75, a PEG ratio of 2.86 and a beta of 0.93. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The company’s fifty day moving average is $64.06 and its two-hundred day moving average is $62.49.

Analysts Set New Price Targets

PRGS has been the topic of several research analyst reports. Oppenheimer raised their target price on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson restated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Friday, January 17th. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group raised their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a 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, Progress Software currently has a consensus rating of “Moderate Buy” and an average price target of $72.43.

Hedge Funds Weigh In On Progress Software

A number of hedge funds and other institutional investors have recently made changes to their positions in PRGS. GAMMA Investing LLC grew its stake in shares of Progress Software by 76.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after purchasing an additional 485 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock worth $126,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. boosted its holdings in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after purchasing an additional 394 shares in the last quarter. KBC Group NV raised its stake in shares of Progress Software by 44.5% during the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock worth $152,000 after buying an additional 719 shares in the last quarter. Finally, Prudent Man Advisors LLC acquired a new stake in shares of Progress Software in the 3rd quarter valued at approximately $201,000.

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.