Progress Software Co. (NASDAQ:PRGS) CAO Sells $56,240.00 in Stock

Progress Software Co. (NASDAQ:PRGS) CAO Domenic Lococo sold 1,000 shares of the stock in a transaction on 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 in the company, valued at approximately $242,000.72. This trade represents a 18.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Progress Software Stock Down 0.7 %

Progress Software stock opened at $57.22 on Friday. Progress Software Co. has a twelve month low of $48.00 and a twelve month 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 company has a 50 day moving average of $63.65 and a 200-day moving average of $62.42. The stock has a market capitalization of $2.48 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PRGS shares. Oppenheimer upped their price objective on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Jefferies Financial Group lifted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. 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 research note on Friday, January 17th. Finally, StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Hedge Funds Weigh In On Progress Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its holdings in shares of Progress Software by 45,918.9% in 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 in the last quarter. Victory Capital Management Inc. lifted its stake in Progress Software by 62.1% in the 3rd quarter. Victory Capital Management Inc. now owns 111,640 shares of the software maker’s stock valued at $7,521,000 after acquiring an additional 42,773 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after acquiring an additional 251,125 shares during the last quarter. Seizert Capital Partners LLC boosted its position in Progress Software by 3.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after acquiring an additional 20,355 shares during the last quarter. Finally, Leuthold Group LLC grew its stake in shares of Progress Software by 958.1% during the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock worth $27,605,000 after acquiring an additional 371,026 shares in the last quarter.

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.