Segall Bryant & Hamill LLC Sells 13,575 Shares of Progress Software Co. (NASDAQ:PRGS)

Segall Bryant & Hamill LLC cut its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 576,123 shares of the software maker’s stock after selling 13,575 shares during the period. Segall Bryant & Hamill LLC owned approximately 1.33% of Progress Software worth $37,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PRGS. Pacer Advisors Inc. increased its holdings in Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after purchasing an additional 1,140,626 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Progress Software during the fourth quarter valued at approximately $15,432,000. Citigroup Inc. grew its holdings in Progress Software by 42.8% during the third quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock worth $33,172,000 after buying an additional 147,457 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Progress Software in the 4th quarter valued at $6,235,000. Finally, Edgestream Partners L.P. lifted its stake in Progress Software by 208.7% during the 4th quarter. Edgestream Partners L.P. now owns 106,819 shares of the software maker’s stock valued at $6,959,000 after acquiring an additional 72,218 shares in the last quarter.

Progress Software Stock Performance

NASDAQ:PRGS opened at $55.00 on Tuesday. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The business has a fifty day simple moving average of $56.83 and a two-hundred day simple moving average of $62.22. The company has a market capitalization of $2.39 billion, a P/E ratio of 35.26, a P/E/G ratio of 2.82 and a beta of 0.88. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Insider Transactions at Progress Software

In related news, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction dated 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 approximately $242,000.72. This represents a 18.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value 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. The trade was a 16.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock worth $984,621 over the last quarter. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PRGS shares. Guggenheim reiterated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Citigroup boosted their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Jefferies Financial Group lifted their price target on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, DA Davidson reissued a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

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.