65,095 Shares in Progress Software Co. (NASDAQ:PRGS) Bought by EAM Global Investors LLC

EAM Global Investors LLC bought a new stake in Progress Software Co. (NASDAQ:PRGS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,095 shares of the software maker’s stock, valued at approximately $4,241,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRGS. Pacer Advisors Inc. grew its holdings in 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 purchasing an additional 1,140,626 shares during the period. Vanguard Group Inc. boosted its position in shares of Progress Software by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker’s stock worth $381,487,000 after purchasing an additional 45,246 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after buying an additional 43,936 shares during the period. GAMMA Investing LLC increased its position in shares of Progress Software by 55.4% in the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after buying an additional 619 shares in the last quarter. Finally, Sei Investments Co. raised its stake in Progress Software by 22.7% during the 4th quarter. Sei Investments Co. now owns 65,952 shares of the software maker’s stock worth $4,297,000 after buying an additional 12,191 shares during the period.

Progress Software Stock Down 0.7 %

Shares of Progress Software stock opened at $57.08 on Wednesday. The firm has a market cap of $2.46 billion, a PE ratio of 36.59, a P/E/G ratio of 2.82 and a beta of 0.85. The business’s 50 day simple moving average is $55.89 and its 200 day simple moving average is $61.80. 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 Co. has a 52-week low of $48.00 and a 52-week high of $70.56.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. During the same period last year, the company earned $1.25 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. On average, analysts predict that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a research note on Tuesday, April 1st. Guggenheim reiterated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. DA Davidson dropped their target price on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday. Jefferies Financial Group upped their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Finally, Citigroup increased their price objective 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

Insider Buying and Selling at Progress Software

In other news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares of the company’s stock, valued at $430,895.80. This trade represents a 16.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction 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 $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,185 shares of company stock worth $1,024,193. Insiders own 3.60% of the company’s stock.

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.