8,863 Shares in Progress Software Co. (NASDAQ:PRGS) Bought by Centiva Capital LP

Centiva Capital LP bought a new position in shares of Progress Software Co. (NASDAQ:PRGS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,863 shares of the software maker’s stock, valued at approximately $597,000.

Several other large investors have also bought and sold shares of the stock. Boston Trust Walden Corp increased its stake in shares of Progress Software by 10.9% in the second quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker’s stock valued at $106,713,000 after buying an additional 192,899 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Progress Software by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker’s stock valued at $76,465,000 after acquiring an additional 34,318 shares during the last quarter. Principal Financial Group Inc. increased its position in Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after purchasing an additional 43,936 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Progress Software by 11.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock worth $64,985,000 after purchasing an additional 99,479 shares during the last quarter. Finally, Seizert Capital Partners LLC lifted its position in shares of Progress Software by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after purchasing an additional 20,355 shares during the period.

Insider Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 7,797 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total value of $525,439.83. Following the completion of the sale, the chief financial officer now directly owns 33,774 shares of the company’s stock, valued at approximately $2,276,029.86. This represents a 18.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ian Pitt sold 1,747 shares of Progress Software stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the transaction, the insider now directly owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Wall Street Analyst Weigh In

PRGS has been the subject of several recent analyst reports. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. DA Davidson increased their price target on Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and issued a $68.00 price objective on shares of Progress Software in a research note on Tuesday, September 10th. Guggenheim raised their target price on Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Oppenheimer lifted their target price on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $67.67.

Progress Software Stock Performance

Shares of PRGS opened at $68.95 on Friday. Progress Software Co. has a one year low of $48.00 and a one year high of $70.56. The company has a market cap of $2.96 billion, a PE ratio of 36.87, a P/E/G ratio of 7.45 and a beta of 0.92. The stock has a 50-day moving average of $66.69 and a 200-day moving average of $59.10. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The firm had revenue of $178.69 million during the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts predict that Progress Software Co. will post 3.96 EPS for the current fiscal year.

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.