Progress Software Co. (NASDAQ:PRGS) Shares Sold by Whittier Trust Co.

Whittier Trust Co. decreased its position in Progress Software Co. (NASDAQ:PRGS) by 20.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,077 shares of the software maker’s stock after selling 803 shares during the quarter. Whittier Trust Co.’s holdings in Progress Software were worth $200,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRGS. Assetmark Inc. lifted its holdings in shares of Progress Software by 6.6% in the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock worth $215,000 after purchasing an additional 204 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Progress Software by 19.3% in the 3rd 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% in the 4th 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 last quarter. Blue Trust Inc. lifted its holdings in shares of Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after purchasing an additional 394 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Progress Software by 6.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock worth $560,000 after purchasing an additional 523 shares during the last quarter.

Progress Software Stock Up 0.4 %

PRGS opened at $54.43 on Monday. Progress Software Co. has a one year low of $48.00 and a one year high of $70.56. 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’s fifty day moving average is $56.97 and its 200-day moving average is $62.24. The company has a market capitalization of $2.36 billion, a PE ratio of 34.89, a P/E/G ratio of 2.82 and a beta of 0.88.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PRGS shares. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group lifted their target price on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. DA Davidson reaffirmed 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 target price 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, Guggenheim reaffirmed a “buy” rating and set a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $72.43.

Insider Transactions at Progress Software

In related news, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. The trade was a 25.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares in the company, valued at $430,895.80. The trade was a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,482 shares of company stock valued at $984,621. Corporate insiders own 3.40% of the company’s stock.

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.