Progress Software Co. (NASDAQ:PRGS) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lowered its holdings in Progress Software Co. (NASDAQ:PRGS) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,160 shares of the software maker’s stock after selling 332 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Progress Software were worth $206,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. 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 valued at $126,000 after buying an additional 301 shares during the last quarter. Virtu Financial LLC bought a new position in Progress Software during the 3rd quarter valued at $1,626,000. Principal Financial Group Inc. grew its holdings in 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 worth $70,418,000 after acquiring an additional 43,936 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Progress Software by 55.4% in the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after purchasing an additional 619 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake 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 valued at $560,000 after purchasing an additional 523 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at $242,000.72. The trade was a 18.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the company’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 value of $844,500.00. Following the completion of the sale, the chief financial officer now owns 44,564 shares of the company’s stock, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,185 shares of company stock valued at $1,024,193 over the last 90 days. 3.40% of the stock is currently owned by company insiders.

Progress Software Price Performance

Shares of NASDAQ:PRGS opened at $57.70 on Monday. The firm’s 50 day moving average is $55.89 and its two-hundred day moving average is $61.89. The firm has a market capitalization of $2.48 billion, a P/E ratio of 36.99, 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 Co. has a 52 week low of $48.00 and a 52 week high of $70.56.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating 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 firm had revenue of $238.02 million for the quarter, compared to analysts’ expectations of $235.64 million. During the same period last year, the firm earned $1.25 EPS. The firm’s revenue was up 28.9% compared to the same quarter last year. Analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PRGS. Jefferies Financial Group boosted their price objective on Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Citigroup boosted their target price on shares of 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 restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.17.

Progress Software 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.