Progress Software Co. (NASDAQ:PRGS) Shares Acquired by Atria Investments Inc

Atria Investments Inc increased its stake in Progress Software Co. (NASDAQ:PRGS) by 34.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,954 shares of the software maker’s stock after buying an additional 2,034 shares during the quarter. Atria Investments Inc’s holdings in Progress Software were worth $518,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after purchasing an additional 1,140,626 shares in the last quarter. Principal Financial Group Inc. grew 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 purchasing an additional 43,936 shares in the last quarter. Seizert Capital Partners LLC grew its stake in Progress Software by 3.3% during the 3rd 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 in the last quarter. Segall Bryant & Hamill LLC grew its stake 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 valued at $39,728,000 after purchasing an additional 251,125 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in 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 purchasing an additional 51,568 shares in the last quarter.

Insider Buying and Selling

In related news, CAO Domenic Lococo sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 44,564 shares in the company, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,482 shares of company stock valued at $984,621. Insiders own 3.30% of the company’s stock.

Progress Software Trading Up 2.9 %

Shares of NASDAQ PRGS opened at $55.23 on Friday. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. The stock’s 50 day simple moving average is $57.83 and its 200 day simple moving average is $62.32.

Wall Street Analysts Forecast Growth

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

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.