Domenic Lococo Sells 1,000 Shares of Progress Software Co. (NASDAQ:PRGS) Stock

Progress Software Co. (NASDAQ:PRGS) CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 4,303 shares in the company, valued at approximately $242,000.72. This represents a 18.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Progress Software Price Performance

Progress Software stock opened at $57.22 on Friday. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 2.86 and a beta of 0.93. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The stock’s 50 day moving average is $63.65 and its 200-day moving average is $62.42.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRGS shares. Citigroup upped their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. DA Davidson reiterated a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. Jefferies Financial Group lifted their price target on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Guggenheim restated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research note on Friday, January 17th. Finally, Oppenheimer lifted their target price on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRGS. Assetmark Inc. boosted its position in shares of Progress Software by 6.6% in the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after acquiring an additional 204 shares during the period. TD Private Client Wealth LLC boosted its holdings 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 purchasing an additional 301 shares during the period. Blue Trust Inc. grew its position in shares of Progress Software by 23.2% during the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after purchasing an additional 394 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Progress Software by 76.7% during the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock worth $75,000 after purchasing an additional 485 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of Progress Software by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after buying an additional 523 shares in the last quarter.

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.