Foundations Investment Advisors LLC Takes $248,000 Position in Progress Software Co. (NASDAQ:PRGS)

Foundations Investment Advisors LLC purchased a new position in Progress Software Co. (NASDAQ:PRGS) in the third quarter, HoldingsChannel reports. The fund purchased 3,683 shares of the software maker’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in shares of Progress Software in the 2nd quarter worth approximately $27,000. GAMMA Investing LLC grew its stake in Progress Software by 76.7% in the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock worth $75,000 after purchasing an additional 485 shares during the period. Blue Trust Inc. raised its holdings in Progress Software by 29.2% in the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker’s stock worth $87,000 after purchasing an additional 371 shares in the last quarter. EntryPoint Capital LLC lifted its position in Progress Software by 993.5% during the first quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker’s stock valued at $116,000 after buying an additional 1,977 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Progress Software during the 2nd quarter valued at $160,000.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 7,797 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total transaction of $525,439.83. Following the completion of the sale, the chief financial officer now directly owns 33,774 shares in the company, valued at approximately $2,276,029.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Progress Software news, insider Ian Pitt sold 1,747 shares of the company’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 transaction of $113,677.29. Following the completion of the sale, the insider now directly owns 3,167 shares of the company’s stock, valued at approximately $206,076.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony Folger sold 7,797 shares of Progress Software stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the transaction, the chief financial officer now owns 33,774 shares in the company, valued at $2,276,029.86. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,844 shares of company stock worth $656,550. 3.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PRGS shares. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 22nd. DA Davidson lifted their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and issued a $68.00 price target on shares of Progress Software in a research note on Tuesday, September 10th. Oppenheimer lifted their price objective on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Guggenheim increased their target price on Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.

Progress Software Stock Down 0.3 %

Progress Software stock opened at $64.90 on Friday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 8.28 and a beta of 0.92. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $67.89. The stock has a fifty day simple moving average of $61.34 and a two-hundred day simple moving average of $55.67.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. The business had revenue of $178.69 million during the quarter, compared to analyst estimates of $176.16 million. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. Progress Software’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities analysts predict that Progress Software Co. will post 3.95 EPS for the current fiscal year.

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.