Seizert Capital Partners LLC Acquires 1,801 Shares of Progress Software Corporation $PRGS

Seizert Capital Partners LLC lifted its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 619,325 shares of the software maker’s stock after acquiring an additional 1,801 shares during the period. Progress Software makes up 1.7% of Seizert Capital Partners LLC’s holdings, making the stock its 28th biggest holding. Seizert Capital Partners LLC owned 1.44% of Progress Software worth $39,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRGS. Inspire Advisors LLC acquired a new position in Progress Software during the 2nd quarter valued at about $200,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Progress Software in the second quarter worth approximately $858,000. Intech Investment Management LLC lifted its holdings in shares of Progress Software by 59.0% in the second quarter. Intech Investment Management LLC now owns 44,853 shares of the software maker’s stock valued at $2,863,000 after purchasing an additional 16,651 shares in the last quarter. Creative Planning boosted its position in shares of Progress Software by 88.0% during the second quarter. Creative Planning now owns 20,254 shares of the software maker’s stock valued at $1,293,000 after buying an additional 9,482 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Progress Software by 273.6% during the second quarter. SG Americas Securities LLC now owns 8,773 shares of the software maker’s stock worth $560,000 after buying an additional 6,425 shares in the last quarter.

Progress Software Stock Up 0.3%

Progress Software stock opened at $39.90 on Wednesday. The firm has a 50 day moving average price of $43.61 and a 200-day moving average price of $50.45. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.22. Progress Software Corporation has a twelve month low of $39.00 and a twelve month high of $70.56. The company has a market capitalization of $1.71 billion, a P/E ratio of 36.27, a P/E/G ratio of 1.95 and a beta of 0.67.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Monday, September 29th. The software maker reported $1.50 EPS for the quarter, beating the consensus estimate of $1.30 by $0.20. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The business had revenue of $249.80 million for the quarter, compared to the consensus estimate of $240.11 million. During the same quarter in the prior year, the business earned $1.26 earnings per share. Progress Software’s revenue for the quarter was up 39.8% on a year-over-year basis. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS. Q4 2025 guidance at 1.290-1.350 EPS. As a group, equities analysts predict that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Transactions at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $46.26, for a total value of $66,059.28. Following the sale, the insider owned 668 shares of the company’s stock, valued at $30,901.68. The trade was a 68.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anthony Folger sold 5,474 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $46.47, for a total transaction of $254,376.78. Following the completion of the transaction, the chief financial officer directly owned 42,559 shares of the company’s stock, valued at approximately $1,977,716.73. This trade represents a 11.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 7,311 shares of company stock worth $339,332 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PRGS has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Jefferies Financial Group cut their price target on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, September 30th. Citigroup upgraded shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Monday, October 13th. Wall Street Zen upgraded Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.