Wakefield Asset Management LLLP Acquires Shares of 15,372 Progress Software Co. (NASDAQ:PRGS)

Wakefield Asset Management LLLP acquired a new position in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,372 shares of the software maker's stock, valued at approximately $1,001,000.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of Progress Software by 45,918.9% during the fourth 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 during the period. Victory Capital Management Inc. lifted its position in shares of Progress Software by 62.1% during the 3rd quarter. Victory Capital Management Inc. now owns 111,640 shares of the software maker's stock valued at $7,521,000 after acquiring an additional 42,773 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker's stock worth $39,728,000 after acquiring an additional 251,125 shares in the last quarter. Seizert Capital Partners LLC grew its holdings 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 acquiring an additional 20,355 shares during the period. Finally, Principal Financial Group Inc. increased its stake in 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 valued at $70,418,000 after purchasing an additional 43,936 shares in the last quarter.

Insiders Place Their Bets

In other Progress Software 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 transaction, the insider now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $844,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,482 shares of company stock valued at $984,621 in the last quarter. 3.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PRGS has been the topic of a number of research analyst reports. Jefferies Financial Group upped their target price on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a report on Monday, January 6th. Guggenheim restated a "buy" rating and set a $83.00 target price on shares of Progress Software in a report on Friday, January 17th. Citigroup upped their price target 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 report on Thursday, January 23rd. Finally, DA Davidson restated a "buy" rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $72.43.

Progress Software Trading Up 1.7 %

Shares of PRGS traded up $0.93 on Tuesday, hitting $54.97. 257,662 shares of the stock traded hands, compared to its average volume of 745,355. The firm has a market capitalization of $2.38 billion, a P/E ratio of 35.19, a P/E/G ratio of 2.82 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 1 year low of $48.00 and a 1 year high of $70.56. The stock's 50 day moving average is $59.65 and its two-hundred day moving average is $62.47.

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.