Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Heron Bay Capital Management

Heron Bay Capital Management grew its position in shares of Progress Software Co. (NASDAQ:PRGS) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,499 shares of the software maker’s stock after acquiring an additional 1,803 shares during the quarter. Heron Bay Capital Management’s holdings in Progress Software were worth $4,658,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of 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 valued at $74,474,000 after acquiring an additional 1,140,626 shares during the period. Principal Financial Group Inc. grew 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 valued at $70,418,000 after purchasing an additional 43,936 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 during the last quarter. Cerity Partners LLC purchased a new stake in shares of Progress Software during the third quarter worth $575,000. Finally, GAMMA Investing LLC boosted its position in Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after purchasing an additional 619 shares during the last quarter.

Wall Street Analyst Weigh In

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

Progress Software Trading Up 0.4 %

NASDAQ:PRGS opened at $54.43 on Friday. The business has a 50 day moving average price of $56.97 and a two-hundred day moving average price of $62.21. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The company has a market cap of $2.36 billion, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88.

Insider Buying and Selling

In other news, CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ian Pitt sold 1,482 shares of the firm’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 transaction, the insider now directly 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 quarter, insiders have sold 17,482 shares of company stock worth $984,621. Corporate insiders own 3.40% of the company’s stock.

About Progress Software

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.