Progress Software Co. (NASDAQ:PRGS) CFO Anthony Folger Sells 15,000 Shares of Stock

Progress Software Co. (NASDAQ:PRGS) CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were 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 directly owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Progress Software Trading Up 1.2 %

Shares of PRGS stock opened at $57.33 on Wednesday. The stock has a market capitalization of $2.49 billion, a P/E ratio of 36.75, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The company has a 50 day moving average price of $64.06 and a 200 day moving average price of $62.49.

Analysts Set New Price Targets

PRGS has been the subject of a number of research analyst reports. Oppenheimer increased their price target on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Guggenheim restated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. Citigroup lifted their target price 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. Finally, Jefferies Financial Group upped their price target on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.43.

Institutional Trading of Progress Software

A number of large investors have recently modified their holdings of PRGS. AQR Capital Management LLC grew its stake in Progress Software by 98.8% during the 2nd quarter. AQR Capital Management LLC now owns 38,950 shares of the software maker’s stock worth $2,113,000 after purchasing an additional 19,359 shares in the last quarter. Algert Global LLC purchased a new position in shares of Progress Software in the 2nd quarter valued at about $236,000. Creative Planning grew its position in shares of Progress Software by 50.9% during the second quarter. Creative Planning now owns 6,474 shares of the software maker’s stock worth $351,000 after buying an additional 2,183 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Progress Software by 19.4% during the third quarter. Handelsbanken Fonder AB now owns 9,216 shares of the software maker’s stock worth $621,000 after buying an additional 1,500 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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 buying an additional 485 shares during the period.

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.