Teza Capital Management LLC Makes New Investment in Progyny, Inc. (NASDAQ:PGNY)

Teza Capital Management LLC acquired a new position in shares of Progyny, Inc. (NASDAQ:PGNY – Get Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 8,653 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Progyny by 2.8% during the 3rd quarter. BlackRock Inc. now owns 8,667,544 shares of the company’s stock worth $321,219,000 after acquiring an additional 236,406 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Progyny by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 6,852,362 shares of the company’s stock valued at $253,949,000 after buying an additional 140,947 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Progyny by 13.3% in the 2nd quarter. Clearbridge Investments LLC now owns 3,652,887 shares of the company’s stock valued at $106,116,000 after buying an additional 429,385 shares during the period. State Street Corp lifted its holdings in shares of Progyny by 4.9% in the 2nd quarter. State Street Corp now owns 2,176,636 shares of the company’s stock valued at $63,231,000 after buying an additional 100,958 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Progyny by 74.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 2,171,417 shares of the company’s stock valued at $63,080,000 after buying an additional 927,692 shares during the period. 86.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Peter Anevski sold 735 shares of Progyny stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $35.00, for a total value of $25,725.00. Following the completion of the sale, the chief executive officer now owns 223,093 shares of the company’s stock, valued at $7,808,255. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Peter Anevski sold 735 shares of Progyny stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $35.00, for a total value of $25,725.00. Following the completion of the sale, the chief executive officer now owns 223,093 shares of the company’s stock, valued at $7,808,255. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman David J. Schlanger sold 41,667 shares of Progyny stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $36.11, for a total value of $1,504,595.37. Following the completion of the transaction, the chairman now owns 76,168 shares in the company, valued at approximately $2,750,426.48. The disclosure for this sale can be found here. Insiders sold a total of 222,433 shares of company stock valued at $7,945,078 over the last quarter. Company insiders own 14.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several recent analyst reports. SVB Leerink reissued a “market perform” rating and issued a $34.00 price target (down from $59.00) on shares of Progyny in a report on Thursday, January 5th. KeyCorp reduced their price target on Progyny from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Progyny from $78.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, November 18th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Progyny presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.25.

Progyny Stock Performance

Shares of PGNY stock opened at $30.54 on Monday. The stock has a fifty day moving average price of $33.05 and a 200 day moving average price of $35.73. The stock has a market cap of $2.85 billion, a PE ratio of 101.80 and a beta of 1.56. Progyny, Inc. has a 1 year low of $25.67 and a 1 year high of $53.10.

Progyny (NASDAQ:PGNY – Get Rating) last released its quarterly earnings results on Monday, February 27th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The company had revenue of $214.32 million during the quarter, compared to the consensus estimate of $211.78 million. Progyny had a return on equity of 9.24% and a net margin of 3.86%. Progyny’s revenue was up 68.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. As a group, equities research analysts predict that Progyny, Inc. will post 0.27 earnings per share for the current year.

About Progyny

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Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions for employers in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.