Sei Investments Co. raised its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 374.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,786 shares of the software maker's stock after purchasing an additional 31,393 shares during the period. Sei Investments Co. owned about 0.09% of Progress Software worth $2,159,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC lifted its position in shares of Progress Software by 44.3% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 13,954 shares of the software maker's stock valued at $758,000 after acquiring an additional 4,287 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Progress Software by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,534,242 shares of the software maker's stock valued at $300,509,000 after acquiring an additional 37,487 shares in the last quarter. BTC Capital Management Inc. purchased a new position in shares of Progress Software in the first quarter valued at approximately $445,000. Allspring Global Investments Holdings LLC lifted its position in shares of Progress Software by 79.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 708,324 shares of the software maker's stock valued at $37,761,000 after acquiring an additional 312,537 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Progress Software by 0.6% in the first quarter. Principal Financial Group Inc. now owns 1,032,624 shares of the software maker's stock valued at $55,049,000 after acquiring an additional 6,166 shares in the last quarter.
In other Progress Software news, EVP Loren Jarrett sold 9,961 shares of Progress Software stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $55.98, for a total value of $557,616.78. Following the sale, the executive vice president now owns 13,406 shares in the company, valued at $750,467.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.40% of the company's stock.
Shares of Progress Software stock opened at $66.29 on Friday. Progress Software Co. has a one year low of $48.00 and a one year high of $67.48. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.95 and a current ratio of 1.23. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 8.44 and a beta of 0.92. The business's 50 day moving average price is $58.43 and its 200 day moving average price is $54.14.
Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.12. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The company had revenue of $178.69 million for the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company's revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts predict that Progress Software Co. will post 3.95 EPS for the current year.
Several equities analysts have recently weighed in on the company. Oppenheimer raised their target price on Progress Software from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, September 25th. Wedbush restated an "outperform" rating and issued a $68.00 target price on shares of Progress Software in a research report on Tuesday, September 10th. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday. DA Davidson lifted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group reduced their price objective on Progress Software from $60.00 to $55.00 and set a "hold" rating on the stock in a research report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.00.
Check Out Our Latest Stock Report on 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.
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