Progress Software Co. (NASDAQ:PRGS) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 8.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,188 shares of the software maker’s stock after selling 296 shares during the quarter. Flputnam Investment Management Co.’s holdings in Progress Software were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PRGS. GAMMA Investing LLC raised its position 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 during the period. TD Private Client Wealth LLC boosted its position in shares of 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 buying an additional 301 shares during the period. Blue Trust Inc. grew its stake in shares of Progress Software by 23.2% in the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after buying an additional 394 shares in the last quarter. KBC Group NV raised its holdings in shares of Progress Software by 44.5% during 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. Finally, Prudent Man Advisors LLC acquired a new position in Progress Software during the 3rd quarter worth approximately $201,000.

Progress Software Price Performance

Shares of PRGS stock opened at $54.98 on Wednesday. The firm has a fifty day moving average of $59.42 and a two-hundred day moving average of $62.46. The firm has a market cap of $2.38 billion, a P/E ratio of 35.24, a P/E/G ratio of 2.82 and a beta of 0.93. Progress Software Co. has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Insider Transactions at Progress Software

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares of the company’s stock, valued at approximately $242,000.72. This represents a 18.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the transaction, the insider now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,482 shares of company stock valued at $984,621. Insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a research report on Friday, January 17th. Jefferies Financial Group raised their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup boosted their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. DA Davidson restated a “buy” rating and set a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. Finally, StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Two 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 stock has an average rating of “Moderate Buy” and a consensus price target of $72.43.

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.