Progress Software Co. (NASDAQ:PRGS) Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its stake in shares of Progress Software Co. (NASDAQ:PRGS) by 45,918.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,143,110 shares of the software maker’s stock after buying an additional 1,140,626 shares during the quarter. Pacer Advisors Inc. owned about 2.66% of Progress Software worth $74,474,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after acquiring an additional 43,936 shares during the period. Allspring Global Investments Holdings LLC lifted its position in 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 during the period. Seizert Capital Partners LLC boosted its holdings in Progress Software by 3.3% in the third quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock valued at $43,463,000 after purchasing an additional 20,355 shares during 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 purchasing an additional 251,125 shares during the period. Finally, Systematic Financial Management LP raised its stake in shares of Progress Software by 10.5% during the 3rd quarter. Systematic Financial Management LP now owns 544,417 shares of the software maker’s stock valued at $36,677,000 after buying an additional 51,568 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Progress Software Stock Performance

NASDAQ:PRGS opened at $53.00 on Monday. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.23 and a current ratio of 0.81. The stock has a market capitalization of $2.30 billion, a PE ratio of 33.97, a P/E/G ratio of 6.24 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 fifty day moving average of $65.69 and a two-hundred day moving average of $62.46.

Progress Software 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.