4,160 Shares in Progress Software Co. (NASDAQ:PRGS) Purchased by Aigen Investment Management LP

Aigen Investment Management LP acquired a new position in Progress Software Co. (NASDAQ:PRGS) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 4,160 shares of the software maker’s stock, valued at approximately $271,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. boosted its position in shares of Progress Software by 45,918.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after buying an additional 1,140,626 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Progress Software by 62.1% in the 3rd quarter. Victory Capital Management Inc. now owns 111,640 shares of the software maker’s stock worth $7,521,000 after buying an additional 42,773 shares in the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Progress Software by 74.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after buying an additional 251,125 shares in the last quarter. Seizert Capital Partners LLC boosted its position in shares of Progress Software by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after buying an additional 20,355 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after buying an additional 43,936 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, insider Ian Pitt sold 1,482 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This trade represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 in the last 90 days. 3.40% of the stock is currently owned by insiders.

Progress Software Trading Up 2.9 %

NASDAQ PRGS opened at $57.23 on Friday. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The company has a 50-day moving average of $58.84 and a 200-day moving average of $62.41. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $2.48 billion, a P/E ratio of 36.69, a P/E/G ratio of 2.82 and a beta of 0.88.

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.