Caisse Des Depots ET Consignations Makes New Investment in Progress Software Co. (NASDAQ:PRGS)

Caisse Des Depots ET Consignations acquired a new stake in Progress Software Co. (NASDAQ:PRGS) during the fourth quarter, HoldingsChannel reports. The firm acquired 5,773 shares of the software maker’s stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Assetmark Inc. raised its stake in Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after acquiring an additional 204 shares during the last quarter. TD Private Client Wealth LLC raised its stake in shares of Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock worth $126,000 after purchasing an additional 301 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of Progress Software by 5.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker’s stock worth $405,000 after purchasing an additional 317 shares during the period. Blue Trust Inc. grew its position in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after buying an additional 394 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Progress Software by 6.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after buying an additional 523 shares during the period.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction on 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 sale, the insider now owns 7,613 shares in the company, 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. Insiders sold 17,482 shares of company stock valued at $984,621 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PRGS. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. DA Davidson reissued a “buy” rating and set a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. Citigroup lifted their price target on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Finally, Jefferies Financial Group raised their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Progress Software currently has an average rating of “Moderate Buy” and an average price target of $74.00.

Progress Software Stock Performance

Shares of PRGS stock opened at $53.52 on Friday. The stock has a fifty day moving average price of $56.29 and a 200 day moving average price of $62.09. 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 stock has a market cap of $2.32 billion, a PE ratio of 34.31, a P/E/G ratio of 2.82 and a beta of 0.88. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56.

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.