Hudson Edge Investment Partners Inc. Has $851,000 Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Hudson Edge Investment Partners Inc. raised its stake in Progress Software Co. (NASDAQ:PRGS) by 4.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,068 shares of the software maker’s stock after buying an additional 600 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in Progress Software were worth $851,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Progress Software by 55.4% in the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after acquiring an additional 619 shares during the period. TD Private Client Wealth LLC increased its holdings in Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. increased its holdings in Progress Software by 23.2% in the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after purchasing an additional 394 shares during the period. KBC Group NV raised its position in Progress Software by 44.5% during the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock worth $152,000 after purchasing an additional 719 shares during the last quarter. Finally, Prudent Man Advisors LLC acquired a new position in Progress Software during the 3rd quarter worth about $201,000.

Insider Transactions at Progress Software

In other news, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total transaction of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares of the company’s stock, valued at $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the sale, the chief accounting officer now directly owns 4,303 shares of the company’s stock, valued at approximately $242,000.72. The trade was a 18.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock valued at $984,621 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PRGS has been the subject of a number of analyst reports. DA Davidson restated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Citigroup raised their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Jefferies Financial Group boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Friday, January 17th. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average target price of $72.43.

Progress Software Stock Down 2.6 %

Shares of NASDAQ PRGS opened at $55.10 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The firm has a market cap of $2.39 billion, a PE ratio of 35.32, a P/E/G ratio of 2.82 and a beta of 0.93. The company’s fifty day simple moving average is $61.06 and its 200 day simple moving average is $62.42. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56.

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.