Victory Capital Management Inc. Buys 41,035 Shares of Progyny, Inc. (NASDAQ:PGNY)

Victory Capital Management Inc. grew its holdings in shares of Progyny, Inc. (NASDAQ:PGNY) by 56.8% in the third quarter, HoldingsChannel.com reports. The fund owned 113,336 shares of the company’s stock after acquiring an additional 41,035 shares during the quarter. Victory Capital Management Inc.’s holdings in Progyny were worth $1,900,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Hsbc Holdings PLC increased its stake in Progyny by 703.9% in the second quarter. Hsbc Holdings PLC now owns 46,475 shares of the company’s stock valued at $1,328,000 after purchasing an additional 40,694 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Progyny by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 756,228 shares of the company’s stock valued at $21,636,000 after acquiring an additional 22,012 shares in the last quarter. Kestrel Investment Management Corp purchased a new stake in shares of Progyny in the second quarter worth approximately $5,005,000. Farallon Capital Management LLC grew its holdings in Progyny by 120.8% during the second quarter. Farallon Capital Management LLC now owns 1,308,500 shares of the company’s stock worth $37,436,000 after buying an additional 715,900 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in Progyny by 15.7% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 976,501 shares of the company’s stock worth $16,366,000 after acquiring an additional 132,672 shares during the last quarter. 94.93% of the stock is currently owned by institutional investors.

Progyny Stock Up 3.1 %

Shares of NASDAQ PGNY opened at $15.44 on Monday. Progyny, Inc. has a twelve month low of $13.39 and a twelve month high of $42.08. The firm has a market capitalization of $1.31 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.73 and a beta of 1.44. The stock’s 50-day simple moving average is $16.40 and its two-hundred day simple moving average is $22.61.

Progyny (NASDAQ:PGNY) last issued its earnings results on Tuesday, November 12th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.26). The firm had revenue of $286.63 million during the quarter, compared to analysts’ expectations of $296.85 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. As a group, research analysts anticipate that Progyny, Inc. will post 0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on PGNY. JPMorgan Chase & Co. decreased their price objective on shares of Progyny from $31.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, September 19th. Leerink Partnrs lowered shares of Progyny from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Canaccord Genuity Group lowered Progyny from a “buy” rating to a “hold” rating and reduced their price objective for the company from $37.00 to $24.00 in a report on Wednesday, August 7th. JMP Securities lowered Progyny from an “outperform” rating to a “market perform” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group cut their price objective on shares of Progyny from $31.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Progyny presently has an average rating of “Hold” and a consensus price target of $25.42.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions 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.