Assetmark Inc. Buys 204 Shares of Progress Software Co. (NASDAQ:PRGS)

Assetmark Inc. grew its position in Progress Software Co. (NASDAQ:PRGS) by 6.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,301 shares of the software maker’s stock after purchasing an additional 204 shares during the period. Assetmark Inc.’s holdings in Progress Software were worth $215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its position in shares of Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after acquiring an additional 688 shares during the period. GAMMA Investing LLC increased its stake in Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after purchasing an additional 619 shares in the last quarter. TD Private Client Wealth LLC raised its holdings 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 worth $126,000 after purchasing an additional 301 shares during the period. Blue Trust Inc. boosted 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 purchasing an additional 394 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Progress Software by 44.5% in the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after buying an additional 719 shares during the period.

Analyst Upgrades and Downgrades

PRGS has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Citigroup boosted their price objective on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. StockNews.com downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. DA Davidson reiterated a “buy” rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday, January 21st. Finally, Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Progress Software Stock Down 1.6 %

Shares of PRGS stock opened at $53.69 on Friday. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.82 and a beta of 0.88. The firm’s 50-day moving average is $58.25 and its 200-day moving average is $62.37. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

Insider Buying and Selling at Progress Software

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. The trade was a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ian Pitt sold 1,482 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 of the company’s stock, valued at approximately $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 worth $984,621 over the last 90 days. Company insiders own 3.30% of the company’s stock.

About Progress Software

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.