Royce & Associates LP Sells 3,662 Shares of Progress Software Co. (NASDAQ:PRGS)

Royce & Associates LP lessened its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,775 shares of the software maker’s stock after selling 3,662 shares during the quarter. Royce & Associates LP owned about 0.13% of Progress Software worth $3,569,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Pacer Advisors Inc. boosted its position in shares of 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 valued at $74,474,000 after acquiring an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of 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 valued at $70,418,000 after acquiring an additional 43,936 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in Progress Software by 74.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after buying an additional 251,125 shares during the last quarter. Systematic Financial Management LP lifted its position in Progress Software by 10.5% in the 3rd quarter. Systematic Financial Management LP now owns 544,417 shares of the software maker’s stock worth $36,677,000 after buying an additional 51,568 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Progress Software by 42.8% in the 3rd quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock worth $33,172,000 after buying an additional 147,457 shares during the last quarter.

Progress Software Price Performance

Shares of Progress Software stock opened at $55.41 on Thursday. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day simple moving average is $57.31 and its two-hundred day simple moving average is $62.27. The stock has a market capitalization of $2.40 billion, a P/E ratio of 35.52, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Progress Software Co. has a one year low of $48.00 and a one year high of $70.56.

Insider Activity

In other news, CFO Anthony Folger sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 7,613 shares in the company, valued at $430,895.80. This trade represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,482 shares of company stock valued at $984,621. Company insiders own 3.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PRGS. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research report on Friday, January 17th. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. DA Davidson restated a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. Jefferies Financial Group boosted their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Finally, Citigroup boosted their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.43.

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.