Progress Software Co. (NASDAQ:PRGS - Get Free Report) insider Ian Pitt sold 1,747 shares of the firm's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the sale, the insider now owns 3,167 shares in the company, valued at approximately $206,076.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Progress Software Trading Up 0.4 %
Shares of PRGS stock opened at $65.12 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $2.79 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 8.28 and a beta of 0.92. The company has a 50 day moving average price of $61.18 and a 200 day moving average price of $55.54. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $67.89.
Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.12. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The firm had revenue of $178.69 million during the quarter, compared to analysts' expectations of $176.16 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business's quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Progress Software Co. will post 3.95 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
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PRGS has been the topic of several analyst reports. Oppenheimer raised 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. StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. DA Davidson lifted their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Guggenheim lifted their target price on shares of Progress Software from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. Finally, Wedbush reaffirmed an "outperform" rating and set a $68.00 target price on shares of Progress Software in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.67.
Get Our Latest Stock Report on PRGS
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Progress Software by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,629,836 shares of the software maker's stock valued at $300,127,000 after buying an additional 95,594 shares in the last quarter. Boston Trust Walden Corp raised its position in Progress Software by 10.9% in the 2nd quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker's stock valued at $106,713,000 after purchasing an additional 192,899 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Progress Software by 2.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker's stock valued at $76,465,000 after acquiring an additional 34,318 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Progress Software by 11.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker's stock valued at $64,985,000 after acquiring an additional 99,479 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Progress Software by 4.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 491,484 shares of the software maker's stock valued at $25,908,000 after acquiring an additional 19,256 shares during the last quarter.
Progress Software Company Profile
(
Get Free Report)
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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