Progress Software (NASDAQ:PRGS – Get Free Report)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a research note issued to investors on Friday,Benzinga reports. They currently have a $83.00 target price on the software maker’s stock. Guggenheim’s price target indicates a potential upside of 29.12% from the company’s current price.
Other equities analysts have also issued reports about the stock. DA Davidson raised their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Jefferies Financial Group increased their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Oppenheimer lifted their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $72.33.
Get Our Latest Stock Analysis on Progress Software
Progress Software Stock Performance
Insider Buying and Selling at Progress Software
In other news, insider Ian Pitt sold 1,747 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the sale, the insider now directly owns 3,167 shares in the company, valued at approximately $206,076.69. This trade represents a 35.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.30% of the company’s stock.
Hedge Funds Weigh In On Progress Software
Several institutional investors and hedge funds have recently added to or reduced their stakes in PRGS. Leuthold Group LLC increased its holdings in shares of Progress Software by 958.1% during the third quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock worth $27,605,000 after buying an additional 371,026 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in Progress Software by 74.2% during the 3rd 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 during the last quarter. Marshall Wace LLP increased its holdings in Progress Software by 530.5% in the 2nd quarter. Marshall Wace LLP now owns 263,062 shares of the software maker’s stock worth $14,274,000 after purchasing an additional 221,336 shares in the last quarter. Citigroup Inc. raised its position in Progress Software by 42.8% in the third quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock valued at $33,172,000 after purchasing an additional 147,457 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Progress Software by 11.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock valued at $64,985,000 after purchasing an additional 99,479 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.
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