3,536 Shares in Progress Software Co. (NASDAQ:PRGS) Purchased by Olympiad Research LP

Olympiad Research LP purchased a new position in Progress Software Co. (NASDAQ:PRGS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,536 shares of the software maker’s stock, valued at approximately $230,000.

A number of other institutional investors also recently bought and sold shares of PRGS. GAMMA Investing LLC increased its stake in shares of Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after purchasing an additional 619 shares in the last quarter. TD Private Client Wealth LLC increased its stake in shares of Progress Software by 19.3% during the third 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 in the last quarter. Blue Trust Inc. increased its stake in shares of Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after purchasing an additional 394 shares in the last quarter. KBC Group NV increased its stake in shares of Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after purchasing an additional 719 shares in the last quarter. Finally, Prudent Man Advisors LLC bought a new position in shares of Progress Software during the third quarter valued at approximately $201,000.

Analysts Set New Price Targets

A number of research firms have recently commented on PRGS. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. DA Davidson reiterated a “buy” rating and set a $75.00 price target on shares of Progress Software in a report on Tuesday, January 21st. Guggenheim reiterated a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Friday, January 17th. Finally, Citigroup increased their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Insider Transactions at Progress Software

In other news, CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the transaction, the chief accounting officer now owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the sale, the insider now owns 7,613 shares in the company, valued at $430,895.80. The trade was a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock worth $984,621 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Progress Software Trading Down 2.6 %

Shares of PRGS stock opened at $55.10 on Monday. The firm’s 50 day moving average is $61.06 and its 200 day moving average is $62.51. The stock has a market capitalization of $2.39 billion, a P/E ratio of 35.32, a P/E/G ratio of 2.82 and a beta of 0.93. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. 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 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.