15,372 Shares in Progress Software Co. (NASDAQ:PRGS) Purchased by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP acquired a new stake in Progress Software Co. (NASDAQ:PRGSFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 15,372 shares of the software maker’s stock, valued at approximately $1,001,000.

Several other institutional investors have also recently made changes to their positions in PRGS. GAMMA Investing LLC raised its position in shares of Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after buying an additional 619 shares in the last quarter. TD Private Client Wealth LLC increased its position in shares of 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 worth $126,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. raised its stake 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 in the last quarter. KBC Group NV lifted its position in Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after purchasing an additional 719 shares during the last quarter. Finally, Prudent Man Advisors LLC purchased a new position in Progress Software in the 3rd quarter worth approximately $201,000.

Progress Software Stock Down 2.2 %

Shares of Progress Software stock opened at $54.31 on Friday. 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 12-month low of $48.00 and a 12-month high of $70.56. The company has a market cap of $2.36 billion, a P/E ratio of 34.81, a PEG ratio of 2.82 and a beta of 0.93. The company’s fifty day simple moving average is $60.11 and its two-hundred day simple moving average is $62.41.

Insider Activity at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares of the company’s stock, valued at $430,895.80. This represents a 16.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock worth $984,621 over the last 90 days. 3.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. DA Davidson restated a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup upped their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus price target of $72.43.

Get Our Latest Stock Analysis on Progress Software

Progress Software Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Progress Software (NASDAQ:PRGS)

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