Caisse Des Depots ET Consignations Takes $376,000 Position in Progress Software Co. (NASDAQ:PRGS)

Caisse Des Depots ET Consignations acquired a new position in shares of Progress Software Co. (NASDAQ:PRGS) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,773 shares of the software maker’s stock, valued at approximately $376,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intech Investment Management LLC purchased a new position in shares of Progress Software during the 3rd quarter worth $932,000. Charles Schwab Investment Management Inc. raised its stake in Progress Software by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker’s stock worth $32,267,000 after purchasing an additional 17,448 shares during the period. Cerity Partners LLC acquired a new position in Progress Software in the 3rd quarter valued at about $575,000. Quantbot Technologies LP grew its stake in shares of Progress Software by 62.7% in the 3rd quarter. Quantbot Technologies LP now owns 30,109 shares of the software maker’s stock valued at $2,028,000 after buying an additional 11,607 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Progress Software by 137.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,685 shares of the software maker’s stock worth $1,596,000 after buying an additional 13,697 shares during the last quarter.

Analysts Set New Price Targets

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

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Domenic Lococo sold 1,000 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. In the last three months, insiders have sold 17,482 shares of company stock valued at $984,621. Insiders own 3.40% of the company’s stock.

Progress Software Stock Performance

Shares of Progress Software stock opened at $53.52 on Friday. The business has a 50-day simple moving average of $56.29 and a 200-day simple moving average of $62.09. The company has a market cap of $2.32 billion, a PE ratio of 34.31, a P/E/G ratio of 2.82 and a beta of 0.88. Progress Software Co. has a one year low of $48.00 and a one year high of $70.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

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.