1 week Ago By Defense World Staff
Norges Bank acquired a new stake in shares of Progress Software Co. (NASDAQ:PRGS – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 148,877 shares of the software maker’s stock, valued at approximately $9,699,000.
Norges Bank owned about 0.34% of Progress Software as of its most recent filing with the Securities and Exchange Commission (SEC). Other institutional investors and hedge funds have also bought and sold shares of the company.
Caisse Des Depots ET Consignations bought a new position in shares of Progress Software in the 4th quarter worth approximately $376,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in Progress Software in the fourth quarter worth approximately $278,000. Vanguard Group Inc.
boosted its stake in shares of Progress Software by 0.8% during the 4th quarter. Vanguard Group Inc.
now owns 5,855,525 shares of the software maker’s stock worth $381,487,000 after acquiring an additional 45,246 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Progress Software during the 4th quarter valued at $248,000. Finally, Heron Bay Capital Management increased its stake in shares of Progress Software by 2.
6% in the 4th quarter. Heron Bay Capital Management now owns 71,499 shares of the software maker’s stock worth $4,658,000 after purchasing an additional 1,803 shares in the last quarter. Progress Software Price PerformancePRGS stock opened at $54.
68 on Wednesday. The company has a market capitalization of $2.35 billion, a PE ratio of 35.
05, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85.
The company’s fifty day moving average price is $55.88 and its 200-day moving average price is $61.99.
Progress Software Co. has a one year low of $48.00 and a one year high of $70.
56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.
81 and a current ratio of 0.81. Progress Software (NASDAQ:PRGS – Get Free Report) last announced its quarterly earnings results on Monday, March 31st.
The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.04 by $0.
27. Progress Software had a net margin of 9.08% and a return on equity of 41.
56%. The business had revenue of $238.02 million for the quarter, compared to analysts’ expectations of $235.
64 million. During the same quarter in the previous year, the company earned $1.25 EPS.
The business’s quarterly revenue was up 28.9% compared to the same quarter last year. On average, equities analysts anticipate that Progress Software Co.
will post 4.01 EPS for the current fiscal year. Insiders Place Their BetsIn 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 sale, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. The trade was a 25.
18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ian Pitt sold 703 shares of the stock in a transaction on Friday, April 4th.
The shares were sold at an average price of $56.29, for a total transaction of $39,571.87.
Following the transaction, the insider now owns 8,317 shares of the company’s stock, valued at $468,163.93. This trade represents a 7.
79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,185 shares of company stock valued at $1,024,193 in the last quarter.
3.40% of the stock is currently owned by insiders. Analyst Ratings ChangesSeveral analysts have issued reports on the company.
Citigroup boosted their price target on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th.
Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Jefferies Financial Group raised their target price 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. StockNews.
com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Progress Software in a research note on Tuesday, April 1st.
Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.
17.Check Out Our Latest Stock Analysis on PRGSProgress Software Company Profile (Free Report)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.Featured ArticlesFive stocks we like better than Progress SoftwareWhat is Short Interest? How to Use ItTariff-Proof Stocks: 3 Big Bargains With Huge Upside PotentialWhat is a Stock Market Index and How Do You Use Them?Qualcomm Breaks Down But RSI Signals It’s Severely OversoldHow to Short Nasdaq: An Easy-to-Follow GuideTesla’s #1 Bull Cuts Target But Says It’s Still a Buy.
