5,203 Shares in Progress Software Co. (NASDAQ:PRGS) Bought by Defined Financial Planning LLC

Defined Financial Planning LLC purchased a new stake in Progress Software Co. (NASDAQ:PRGS) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,203 shares of the software maker’s stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its stake in Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock valued at $33,000 after purchasing an additional 296 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after buying an additional 688 shares during the period. GAMMA Investing LLC lifted its position in shares of Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after buying an additional 619 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Progress Software by 19.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock worth $126,000 after acquiring an additional 301 shares during the period. Finally, Blue Trust Inc. raised its stake in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after acquiring an additional 394 shares during the period.

Insider Buying and Selling at Progress Software

In related news, insider Ian Pitt sold 703 shares of Progress Software stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total transaction of $39,571.87. Following the sale, the insider now directly owns 8,317 shares of the company’s stock, valued at approximately $468,163.93. The trade was a 7.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction 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. The trade was a 18.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,185 shares of company stock worth $1,024,193 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of research analyst reports. Citigroup upped their price objective 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. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. DA Davidson reaffirmed a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. Finally, Wedbush reissued an “outperform” rating and set a $75.00 price target on shares of Progress Software in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.17.

Progress Software Trading Up 1.5 %

Shares of PRGS stock opened at $57.70 on Monday. The stock has a market cap of $2.48 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. The stock has a 50 day simple moving average of $55.89 and a 200 day simple moving average of $61.89.

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

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.