Royce & Associates LP Sells 3,662 Shares of Progress Software Co. (NASDAQ:PRGS)

Royce & Associates LP cut its position in shares of Progress Software Co. (NASDAQ:PRGS) by 6.3% during the 4th quarter, HoldingsChannel reports. The firm owned 54,775 shares of the software maker’s stock after selling 3,662 shares during the period. Royce & Associates LP’s holdings in Progress Software were worth $3,569,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PRGS. Pacer Advisors Inc. boosted its position in shares of Progress Software by 45,918.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after purchasing an additional 1,140,626 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Progress Software by 74.2% in the third quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after acquiring an additional 251,125 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Progress Software in the fourth quarter worth $15,432,000. Citigroup Inc. boosted its holdings in Progress Software by 42.8% in the third quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock worth $33,172,000 after acquiring an additional 147,457 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Progress Software by 208.7% in the fourth quarter. Edgestream Partners L.P. now owns 106,819 shares of the software maker’s stock worth $6,959,000 after acquiring an additional 72,218 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on PRGS shares. DA Davidson reissued a “buy” rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday, January 21st. Jefferies Financial Group boosted their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Guggenheim reissued a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Friday, January 17th. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Citigroup boosted their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.43.

Progress Software Trading Down 0.4 %

Shares of NASDAQ:PRGS opened at $55.41 on Thursday. The company has a market cap of $2.40 billion, a P/E ratio of 35.52, a PEG ratio of 2.82 and a beta of 0.88. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The stock’s fifty day moving average price is $57.31 and its 200-day moving average price is $62.27.

Insider Activity at Progress Software

In related news, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the sale, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,482 shares of company stock worth $984,621. 3.40% of the stock is owned by insiders.

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.