Progress Software Co. (NASDAQ:PRGS) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in Progress Software Co. (NASDAQ:PRGS) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 158,063 shares of the software maker’s stock after selling 6,275 shares during the period. Corient Private Wealth LLC’s holdings in Progress Software were worth $10,298,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in Progress Software by 45,918.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after purchasing an additional 1,140,626 shares during the last quarter. Victory Capital Management Inc. grew its stake 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 worth $7,521,000 after acquiring an additional 42,773 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Progress Software by 74.2% in the third quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after acquiring an additional 251,125 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Progress Software by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after acquiring an additional 43,936 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Progress Software by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker’s stock worth $32,267,000 after acquiring an additional 17,448 shares in the last quarter.

Insider Activity at Progress Software

In related news, CFO Anthony Folger sold 15,000 shares of the business’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 directly owns 44,564 shares of the company’s stock, valued at $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the sale, the insider now directly owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This trade represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 over the last ninety days. Insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

PRGS has been the subject of several research reports. DA Davidson restated a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. Jefferies Financial Group boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Citigroup boosted their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Finally, StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus target price of $72.43.

Progress Software Stock Performance

Shares of PRGS stock opened at $55.41 on Thursday. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The company has a market cap of $2.40 billion, a P/E ratio of 35.52, a PEG 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. The firm has a fifty day moving average price of $57.31 and a 200 day moving average price of $62.27.

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.