Progress Software Co. (NASDAQ:PRGS) Shares Bought by Heron Bay Capital Management

Heron Bay Capital Management lifted its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,499 shares of the software maker’s stock after acquiring an additional 1,803 shares during the period. Heron Bay Capital Management owned 0.16% of Progress Software worth $4,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. increased its position in shares of Progress Software by 6.6% during the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock worth $215,000 after purchasing an additional 204 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after buying an additional 301 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Progress Software by 5.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker’s stock valued at $405,000 after acquiring an additional 317 shares during the period. Blue Trust Inc. grew its position 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 worth $141,000 after acquiring an additional 394 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Progress Software by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after buying an additional 523 shares during the last quarter.

Progress Software Stock Up 0.4 %

PRGS opened at $54.43 on Friday. The business’s fifty day simple moving average is $56.97 and its 200 day simple moving average is $62.21. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The firm has a market cap of $2.36 billion, a P/E ratio of 34.89, a PEG ratio of 2.82 and a beta of 0.88. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction that occurred 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. This represents a 16.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock valued at $984,621 in the last ninety days. Insiders own 3.40% of the company’s stock.

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.