F M Investments LLC Increases Holdings in Progress Software Co. (NASDAQ:PRGS)

F M Investments LLC grew its stake in shares of Progress Software Co. (NASDAQ:PRGS) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,106 shares of the software maker’s stock after acquiring an additional 1,920 shares during the quarter. F M Investments LLC’s holdings in Progress Software were worth $8,429,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Leuthold Group LLC boosted its stake in Progress Software by 958.1% during the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock valued at $27,605,000 after purchasing an additional 371,026 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Progress Software by 79.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 708,324 shares of the software maker’s stock worth $37,761,000 after buying an additional 312,537 shares during the last quarter. Swedbank AB grew its holdings in shares of Progress Software by 144.2% in the second quarter. Swedbank AB now owns 474,447 shares of the software maker’s stock worth $25,743,000 after acquiring an additional 280,195 shares during the period. Marshall Wace LLP increased its position in Progress Software by 530.5% during the second quarter. Marshall Wace LLP now owns 263,062 shares of the software maker’s stock valued at $14,274,000 after acquiring an additional 221,336 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its holdings in Progress Software by 10.9% in the second quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker’s stock valued at $106,713,000 after acquiring an additional 192,899 shares during the period.

Insider Buying and Selling at Progress Software

In related news, insider Ian Pitt sold 1,747 shares of Progress Software stock in a transaction dated 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 transaction, the insider now directly owns 3,167 shares of the company’s stock, valued at approximately $206,076.69. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Anthony Folger sold 7,797 shares of Progress Software stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total value of $525,439.83. Following the transaction, the chief financial officer now owns 33,774 shares of the company’s stock, valued at $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 link. Also, insider Ian Pitt sold 1,747 shares of the firm’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 owns 3,167 shares of the company’s stock, valued at approximately $206,076.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Progress Software Price Performance

Shares of Progress Software stock traded up $0.26 during trading hours on Friday, reaching $64.35. The company’s stock had a trading volume of 260,998 shares, compared to its average volume of 503,535. The firm has a 50 day moving average price of $62.09 and a 200-day moving average price of $56.11. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. The stock has a market cap of $2.76 billion, a P/E ratio of 34.41, a P/E/G ratio of 8.18 and a beta of 0.92. Progress Software Co. has a one year low of $48.00 and a one year high of $67.89.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.12. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The business had revenue of $178.69 million for the quarter, compared to the consensus estimate of $176.16 million. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts predict that Progress Software Co. will post 3.95 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PRGS shares. DA Davidson raised their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Guggenheim raised their target price on Progress Software from $64.00 to $70.00 and gave the stock 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 report on Tuesday, September 10th. StockNews.com raised shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Oppenheimer increased their price objective on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Progress Software currently has a consensus rating of “Buy” and a consensus price target of $67.67.

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.