Progress Software Co. (NASDAQ:PRGS) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC grew its position in shares of Progress Software Co. (NASDAQ:PRGS) by 24.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 13,249 shares of the software maker’s stock after buying an additional 2,631 shares during the period. HighTower Advisors LLC’s holdings in Progress Software were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Progress Software by 45,918.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock valued at $74,474,000 after buying an additional 1,140,626 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of 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 acquiring an additional 43,936 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Progress Software by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker’s stock valued at $32,267,000 after purchasing an additional 17,448 shares in the last quarter. Cerity Partners LLC acquired a new position in Progress Software in the 3rd quarter worth about $575,000. Finally, GAMMA Investing LLC boosted its position in Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after purchasing an additional 619 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Guggenheim restated a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Friday, January 17th. Citigroup upped their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. DA Davidson reiterated a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. Jefferies Financial Group boosted their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.00.

Insider Buying and Selling at Progress Software

In other Progress Software news, insider Ian Pitt sold 1,482 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the sale, the insider now owns 7,613 shares of the company’s stock, valued at $430,895.80. This trade represents a 16.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were 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 in the company, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,482 shares of company stock worth $984,621. Insiders own 3.40% of the company’s stock.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $53.52 on Friday. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The firm has a 50-day simple moving average of $56.29 and a 200-day simple moving average of $62.09. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48.

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.