Quantbot Technologies LP Has $1.76 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Quantbot Technologies LP reduced its position in Progress Software Co. (NASDAQ:PRGS) by 10.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,030 shares of the software maker’s stock after selling 3,079 shares during the period. Quantbot Technologies LP owned about 0.06% of Progress Software worth $1,761,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings in shares of Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after purchasing an additional 688 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Progress Software by 55.4% during the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after buying an additional 619 shares during the period. TD Private Client Wealth LLC grew its stake in 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 buying an additional 301 shares during the last quarter. Blue Trust Inc. raised its holdings in 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 period. Finally, 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 worth $152,000 after acquiring an additional 719 shares during the last quarter.

Insider Buying and Selling at Progress Software

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

Progress Software Stock Up 1.0 %

PRGS stock opened at $55.00 on Tuesday. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The business has a 50-day simple moving average of $56.83 and a 200 day simple moving average of $62.22. 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 company has a market cap of $2.39 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88.

Wall Street Analysts Forecast Growth

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

About Progress Software

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.