Boston Trust Walden Corp Has $116.06 Million Stake in Progress Software Co. (NASDAQ:PRGS)

Boston Trust Walden Corp cut its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,781,415 shares of the software maker’s stock after selling 181,769 shares during the quarter. Progress Software comprises 0.8% of Boston Trust Walden Corp’s portfolio, making the stock its 28th biggest holding. Boston Trust Walden Corp’s holdings in Progress Software were worth $116,059,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Assetmark Inc. increased its holdings in shares of Progress Software by 10.2% in the third quarter. Assetmark Inc. now owns 3,097 shares of the software maker’s stock valued at $209,000 after purchasing an additional 286 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Progress Software by 19.3% during the 3rd 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. boosted its holdings in shares of Progress Software by 23.2% during the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after buying an additional 394 shares during the period. GAMMA Investing LLC grew its stake in Progress Software by 76.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after buying an additional 485 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in Progress Software by 6.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after acquiring an additional 523 shares during the period.

Progress Software Trading Up 0.6 %

Shares of Progress Software stock opened at $57.33 on Monday. The firm’s 50-day moving average price is $64.57 and its two-hundred day moving average price is $62.47. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 36.75, a PEG ratio of 2.86 and a beta of 0.93. 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 Co. has a 12-month low of $48.00 and a 12-month high of $70.56.

Analysts Set New Price Targets

PRGS has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. DA Davidson reissued a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. Finally, Oppenheimer raised their price target on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.