Defined Financial Planning LLC Acquires Shares of 5,203 Progress Software Co. (NASDAQ:PRGS)

Defined Financial Planning LLC bought a new position in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,203 shares of the software maker's stock, valued at approximately $339,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Pacer Advisors Inc. lifted 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 purchasing an additional 1,140,626 shares during the period. Raymond James Financial Inc. bought a new stake in Progress Software during the 4th quarter valued at $15,432,000. Norges Bank purchased a new position in shares of Progress Software in the 4th quarter valued at $9,699,000. Arrowstreet Capital Limited Partnership raised its position in shares of Progress Software by 228.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 208,450 shares of the software maker's stock worth $13,581,000 after acquiring an additional 144,892 shares in the last quarter. Finally, LSV Asset Management boosted its position in Progress Software by 55.7% during the fourth quarter. LSV Asset Management now owns 358,449 shares of the software maker's stock valued at $23,353,000 after purchasing an additional 128,249 shares in the last quarter.

Analyst Upgrades and Downgrades

PRGS has been the subject of several analyst reports. DA Davidson decreased their price target on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Citigroup raised their price objective on Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Wedbush reaffirmed an "outperform" rating and set a $75.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. Finally, Guggenheim restated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Progress Software currently has a consensus rating of "Moderate Buy" and an average target price of $74.33.

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ian Pitt sold 1,482 shares of the firm's 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 in the company, valued at $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,185 shares of company stock valued at $1,024,193. 3.60% of the stock is owned by company insiders.

Progress Software Stock Performance

Shares of Progress Software stock traded down $0.07 on Friday, reaching $56.00. 433,099 shares of the stock were exchanged, compared to its average volume of 553,848. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The business has a 50 day moving average price of $55.80 and a two-hundred day moving average price of $61.61. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 35.90, a PEG ratio of 2.82 and a beta of 0.85.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.27. The firm had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The business's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

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.