Delphi Management Inc. MA Has $1.52 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Delphi Management Inc. MA lessened its holdings in Progress Software Co. (NASDAQ:PRGS) by 10.0% during the fourth quarter, HoldingsChannel reports. The firm owned 23,361 shares of the software maker’s stock after selling 2,593 shares during the quarter. Progress Software accounts for 1.5% of Delphi Management Inc. MA’s holdings, making the stock its 22nd largest position. Delphi Management Inc. MA’s holdings in Progress Software were worth $1,522,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PRGS. Smartleaf Asset Management LLC lifted its stake in shares of Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after acquiring an additional 688 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 last quarter. TD Private Client Wealth LLC lifted its stake in shares of Progress Software by 19.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after acquiring an additional 301 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after acquiring an additional 394 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Progress Software by 44.5% in the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after acquiring an additional 719 shares during the last quarter.

Progress Software Stock Performance

Shares of Progress Software stock opened at $55.34 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. The business has a 50-day moving average price of $57.63 and a two-hundred day moving average price of $62.33. Progress Software Co. has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a market cap of $2.40 billion, a P/E ratio of 35.47, a PEG ratio of 2.82 and a beta of 0.88.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Progress Software news, insider Ian Pitt sold 1,482 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the sale, the insider now directly owns 7,613 shares in the company, valued at approximately $430,895.80. This trade represents a 16.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anthony Folger sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,482 shares of company stock worth $984,621. Company insiders own 3.40% of the company’s stock.

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.