Progress Software Co. (NASDAQ:PRGS) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its position in Progress Software Co. (NASDAQ:PRGS - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,781,415 shares of the software maker's stock after selling 181,769 shares during the period. Progress Software comprises approximately 0.8% of Boston Trust Walden Corp's investment portfolio, making the stock its 28th biggest position. Boston Trust Walden Corp owned approximately 4.11% of Progress Software worth $116,059,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its position 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 purchasing an additional 485 shares during the last quarter. TD Private Client Wealth LLC raised its position 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 purchasing an additional 301 shares during the last quarter. Blue Trust Inc. raised its position 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 purchasing an additional 394 shares during the last quarter. KBC Group NV raised its position in shares of Progress Software by 44.5% during the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker's stock worth $152,000 after purchasing an additional 719 shares during the last quarter. Finally, Prudent Man Advisors LLC acquired a new position in shares of Progress Software during the 3rd quarter worth about $201,000.

Analysts Set New Price Targets

A number of research firms have commented on PRGS. Citigroup increased 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. Oppenheimer increased their price objective on shares of Progress Software from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased 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. Guggenheim reiterated a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, January 17th. Finally, StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $72.43.

Insider Activity

In related 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 completion of the transaction, the insider now owns 7,613 shares of the company's stock, valued at approximately $430,895.80. This trade represents a 16.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the transaction, the chief accounting officer now directly owns 4,303 shares of the company's stock, valued at $242,000.72. The trade was a 18.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 in the last 90 days. Company insiders own 3.30% of the company's stock.

Progress Software Trading Down 0.7 %

Shares of Progress Software stock traded down $0.41 during mid-day trading on Thursday, hitting $57.22. The stock had a trading volume of 857,593 shares, compared to its average volume of 827,746. The firm has a 50-day moving average of $63.65 and a two-hundred day moving average of $62.42. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. 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 cap of $2.48 billion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93.

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.