Progress Software Corporation $PRGS Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Progress Software Corporation (NASDAQ:PRGS) by 26.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,178,716 shares of the software maker’s stock after purchasing an additional 243,950 shares during the period. Allspring Global Investments Holdings LLC owned about 2.75% of Progress Software worth $53,302,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Progress Software by 397.8% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 22,400 shares of the software maker’s stock worth $984,000 after purchasing an additional 17,900 shares during the period. Boston Trust Walden Corp lifted its position in shares of Progress Software by 8.6% in the 3rd quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after buying an additional 153,957 shares during the last quarter. Rice Hall James & Associates LLC boosted its holdings in shares of Progress Software by 148.1% in the 3rd quarter. Rice Hall James & Associates LLC now owns 338,941 shares of the software maker’s stock valued at $14,890,000 after buying an additional 202,305 shares during the period. CWM LLC grew its position in shares of Progress Software by 675.2% during the 3rd quarter. CWM LLC now owns 3,977 shares of the software maker’s stock valued at $175,000 after buying an additional 3,464 shares during the last quarter. Finally, Inspire Investing LLC grew its position in shares of Progress Software by 61.6% during the 3rd quarter. Inspire Investing LLC now owns 12,056 shares of the software maker’s stock valued at $530,000 after buying an additional 4,594 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PRGS shares. DA Davidson restated a “buy” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, September 30th. Jefferies Financial Group reduced their target price on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Wall Street Zen upgraded shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Citigroup raised Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Monday, October 13th. Finally, Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Progress Software Trading Down 1.1%

NASDAQ:PRGS opened at $42.96 on Friday. The stock’s 50-day moving average is $42.75 and its two-hundred day moving average is $46.28. Progress Software Corporation has a fifty-two week low of $39.00 and a fifty-two week high of $65.93. The stock has a market cap of $1.84 billion, a PE ratio of 39.05, a price-to-earnings-growth ratio of 1.89 and a beta of 0.61. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.44 and a quick ratio of 0.44.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Monday, September 29th. The software maker reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.20. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The company had revenue of $249.80 million for the quarter, compared to analyst estimates of $240.11 million. During the same period last year, the company earned $1.26 earnings per share. The business’s revenue was up 39.8% compared to the same quarter last year. As a group, equities research analysts forecast that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Progress Software Company Profile

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.