Progress Software Co. (NASDAQ:PRGS) CFO Sells $844,500.00 in Stock

Progress Software Co. (NASDAQ:PRGS - Get Free Report) 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 value of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares of the company's stock, valued at $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Progress Software Stock Performance

NASDAQ:PRGS traded down $0.03 during mid-day trading on Friday, hitting $57.19. The stock had a trading volume of 519,117 shares, compared to its average volume of 901,093. Progress Software Co. has a twelve month low of $48.00 and a twelve month 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. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 2.85 and a beta of 0.93. The company's 50 day simple moving average is $63.43 and its 200 day simple moving average is $62.47.

Institutional Investors Weigh In On Progress Software

A number of large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in shares of Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock valued at $50,000 after purchasing an additional 688 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Progress Software by 76.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker's stock worth $75,000 after buying an additional 485 shares during the period. TD Private Client Wealth LLC grew its stake in Progress Software by 19.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker's stock valued at $126,000 after buying an additional 301 shares during the last quarter. Blue Trust Inc. raised its holdings in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock valued at $141,000 after acquiring an additional 394 shares during the period. Finally, KBC Group NV lifted its position in Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker's stock worth $152,000 after acquiring an additional 719 shares during the last quarter.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a report on Monday, January 6th. Citigroup lifted their price target 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. Guggenheim reaffirmed a "buy" rating and issued a $83.00 target price on shares of Progress Software in a research report on Friday, January 17th. Finally, Oppenheimer increased their price target on Progress Software from $70.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.