William Blair Investment Management LLC Acquires Shares of 582,952 Progyny, Inc. $PGNY

William Blair Investment Management LLC bought a new stake in Progyny, Inc. (NASDAQ:PGNY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 582,952 shares of the company’s stock, valued at approximately $16,807,000. William Blair Investment Management LLC owned 0.74% of Progyny at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Progyny during the 4th quarter valued at about $25,000. Hantz Financial Services Inc. lifted its stake in Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after purchasing an additional 742 shares during the last quarter. Quarry LP lifted its stake in Progyny by 2,004.1% in the third quarter. Quarry LP now owns 3,598 shares of the company’s stock worth $77,000 after purchasing an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Progyny in the second quarter worth about $77,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Progyny during the fourth quarter valued at approximately $94,000. Institutional investors own 94.93% of the company’s stock.

Progyny Stock Performance

Shares of NASDAQ:PGNY opened at $25.65 on Friday. The firm has a market cap of $1.97 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.86 and a beta of 1.01. The firm’s 50 day simple moving average is $29.13 and its 200-day simple moving average is $23.52. Progyny, Inc. has a one year low of $16.10 and a one year high of $33.06.

Progyny (NASDAQ:PGNY) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.22. Progyny had a net margin of 6.00% and a return on equity of 15.98%. The firm had revenue of $350.51 million during the quarter, compared to the consensus estimate of $349.05 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Progyny has set its Q3 2026 guidance at 0.500-0.520 EPS and its FY 2026 guidance at 2.040-2.100 EPS. Equities research analysts predict that Progyny, Inc. will post 1.19 EPS for the current fiscal year.

Progyny declared that its board has approved a share repurchase plan on Tuesday, May 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 10.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PGNY has been the topic of a number of analyst reports. Wells Fargo & Company initiated coverage on Progyny in a research note on Thursday. They set an “overweight” rating and a $37.00 target price on the stock. Citizens Jmp boosted their price objective on Progyny from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Monday, May 11th. KeyCorp upped their price objective on Progyny from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. JPMorgan Chase & Co. upped their price objective on Progyny from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Citigroup reiterated an “outperform” rating on shares of Progyny in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Progyny currently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

Insider Buying and Selling at Progyny

In other news, insider Geoffrey Clapp sold 1,530 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $25.58, for a total transaction of $39,137.40. Following the transaction, the insider owned 59,117 shares in the company, valued at approximately $1,512,212.86. This trade represents a 2.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allison Swartz sold 1,199 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $25.02, for a total value of $29,998.98. Following the transaction, the executive vice president owned 83,316 shares in the company, valued at approximately $2,084,566.32. This represents a 1.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,063 shares of company stock worth $489,413 over the last quarter. Insiders own 9.90% of the company’s stock.

Progyny Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.