Progress Software Co. (NASDAQ:PRGS) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC lessened its stake in Progress Software Co. (NASDAQ:PRGS) by 8.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,212 shares of the software maker’s stock after selling 301 shares during the period. Inspire Advisors LLC’s holdings in Progress Software were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in Progress Software by 6.6% in the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after acquiring an additional 204 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after acquiring an additional 301 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Progress Software by 23.2% in the fourth 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. Harbor Capital Advisors Inc. raised its holdings in shares of Progress Software by 6.5% in the fourth 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 last quarter. Finally, Hudson Edge Investment Partners Inc. raised its holdings in shares of Progress Software by 4.8% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 13,068 shares of the software maker’s stock valued at $851,000 after buying an additional 600 shares during the last quarter.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of research reports. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Friday, January 17th. Citigroup upped their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th. DA Davidson reaffirmed a “buy” rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday, January 21st. Finally, Jefferies Financial Group upped their target price 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.43.

Insider Buying and Selling at Progress Software

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.24, for a total value of $56,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,303 shares of the company’s stock, valued at approximately $242,000.72. This trade represents a 18.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 17,482 shares of company stock valued at $984,621. Corporate insiders own 3.30% of the company’s stock.

Progress Software Trading Down 1.0 %

NASDAQ PRGS opened at $54.57 on Thursday. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The stock has a market capitalization of $2.37 billion, a P/E ratio of 34.98, a P/E/G ratio of 2.82 and a beta of 0.88. The firm has a 50-day moving average price of $58.25 and a 200 day moving average price of $62.37.

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.