1 week Ago By ABMN Staff
Norges Bank bought a new stake in Progress Software Co. ( NASDAQ:PRGS – Free Report ) during the 4th quarter, HoldingsChannel reports. The fund bought 148,877 shares of the software maker’s stock, valued at approximately $9,699,000.
Other institutional investors have also recently made changes to their positions in the company. Caisse Des Depots ET Consignations purchased a new stake in Progress Software in the 4th quarter worth about $376,000. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Progress Software during the fourth quarter valued at approximately $278,000.
Vanguard Group Inc. lifted 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 worth approximately $248,000.
Finally, Heron Bay Capital Management grew its position in Progress Software by 2.6% in the 4th quarter. Heron Bay Capital Management now owns 71,499 shares of the software maker’s stock valued at $4,658,000 after acquiring an additional 1,803 shares during the last quarter.
Progress Software Price Performance NASDAQ PRGS opened at $54.68 on Wednesday. The company has a market cap of $2.
35 billion, a PE ratio of 35.05, a P/E/G ratio of 2.82 and a beta of 0.
85. Progress Software Co. has a 52-week low of $48.
00 and a 52-week 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.
The firm’s 50 day moving average price is $55.88 and its 200-day moving average price is $61.99.
Insider Activity In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction dated 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 trade represents a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website .
Also, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.
20. Following the transaction, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80.
This trade represents a 16.29 % decrease in their position. The disclosure for this sale can be found here .
In the last ninety days, insiders have sold 18,185 shares of company stock worth $1,024,193. Corporate insiders own 3.40% of the company’s stock.
Analysts Set New Price Targets Several analysts have recently weighed in on the company. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd.
DA Davidson reiterated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a report on Tuesday, January 21st. Guggenheim restated a “buy” rating and issued a $83.
00 target price on shares of Progress Software in a research note on Tuesday, April 1st. 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 note on Friday, January 17th. Finally, Wedbush reissued an “outperform” rating and issued a $75.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st.
Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $75.17.
Check Out Our Latest Research Report on PRGS About Progress Software ( 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.
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