D. E. Shaw & Co. Inc. Has $26.05 Million Holdings in Progress Software Co. (NASDAQ:PRGS)

D. E. Shaw & Co. Inc. lifted its stake in Progress Software Co. (NASDAQ:PRGS) by 44.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 399,909 shares of the software maker’s stock after buying an additional 122,463 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Progress Software were worth $26,054,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Progress Software by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker’s stock worth $381,487,000 after buying an additional 45,246 shares in the last quarter. Pacer Advisors Inc. grew its position in Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after acquiring an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. grew its position in Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after acquiring an additional 43,936 shares during the last quarter. Geode Capital Management LLC grew its position in Progress Software by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker’s stock worth $66,039,000 after acquiring an additional 4,927 shares during the last quarter. Finally, Invesco Ltd. grew its position in Progress Software by 0.7% during the 4th quarter. Invesco Ltd. now owns 802,523 shares of the software maker’s stock worth $52,284,000 after acquiring an additional 5,474 shares during the last quarter.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 703 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $56.29, for a total transaction of $39,571.87. Following the sale, the insider now owns 8,317 shares of the company’s stock, valued at approximately $468,163.93. This trade represents a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Yufan Stephanie Wang sold 1,428 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson decreased their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Citigroup increased their price target on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research report on Tuesday, April 1st. Finally, Wedbush restated an “outperform” rating and set a $75.00 price target on shares of Progress Software in a research report 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.33.

Progress Software Stock Down 1.4%

Shares of PRGS opened at $60.90 on Monday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 2.82 and a beta of 0.67. 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 business’s fifty day moving average price is $56.83 and its two-hundred day moving average price is $60.90. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56.

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

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.