Progress Software Co. (NASDAQ:PRGS) Insider Yufan Stephanie Wang Sells 1,428 Shares

Progress Software Co. (NASDAQ:PRGS) insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total transaction of $83,209.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Progress Software Trading Up 1.2 %

NASDAQ PRGS opened at $59.89 on Wednesday. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The company’s 50-day moving average price is $55.93 and its 200-day moving average price is $61.22. The stock has a market cap of $2.58 billion, a PE ratio of 38.39, a PEG ratio of 2.82 and a beta of 0.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.27. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The company had revenue of $238.02 million for the quarter, compared to analysts’ expectations of $235.64 million. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Progress Software’s revenue was up 28.9% compared to the same quarter last year. Equities research analysts forecast that Progress Software Co. will post 4.01 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Hudson Edge Investment Partners Inc. increased its holdings in Progress Software by 35.7% during the first quarter. Hudson Edge Investment Partners Inc. now owns 17,738 shares of the software maker’s stock valued at $914,000 after buying an additional 4,670 shares during the period. Kendall Capital Management increased its holdings in shares of Progress Software by 9.2% in the 1st quarter. Kendall Capital Management now owns 21,945 shares of the software maker’s stock valued at $1,130,000 after acquiring an additional 1,850 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Progress Software by 15.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 963,730 shares of the software maker’s stock valued at $49,642,000 after purchasing an additional 125,345 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Progress Software by 2.3% in the first quarter. GHP Investment Advisors Inc. now owns 106,989 shares of the software maker’s stock valued at $5,511,000 after purchasing an additional 2,417 shares during the last quarter. Finally, Mountain Pacific Investment Advisers LLC purchased a new stake in shares of Progress Software during the first quarter valued at about $7,037,000.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of recent research reports. StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Citigroup upped their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, DA Davidson lowered their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.33.

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.