8,364 Shares in Progress Software Co. (NASDAQ:PRGS) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,364 shares of the software maker's stock, valued at approximately $545,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of Progress Software by 6.6% in the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock valued at $215,000 after purchasing an additional 204 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Progress Software by 19.3% in the third 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. Avantax Advisory Services Inc. boosted its stake in Progress Software by 5.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker's stock worth $405,000 after buying an additional 317 shares during the period. Blue Trust Inc. increased its position in shares of Progress Software by 23.2% during the fourth 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 last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of 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.

Analyst Ratings Changes

Several analysts recently weighed in on PRGS shares. StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Citigroup boosted their price objective on Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Wedbush restated an "outperform" rating and set a $75.00 target price on shares of Progress Software in a report on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Finally, DA Davidson reissued a "buy" rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, January 21st. 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, the company currently has an average rating of "Moderate Buy" and an average price target of $75.17.

Insider Transactions at Progress Software

In other news, insider Ian Pitt sold 1,482 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,482 shares of company stock valued at $984,621. Corporate insiders own 3.40% of the company's stock.

Progress Software Stock Up 2.0 %

PRGS stock traded up $1.15 during mid-day trading on Tuesday, reaching $57.60. The company had a trading volume of 159,060 shares, compared to its average volume of 549,020. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. The firm has a fifty day simple moving average of $55.93 and a 200 day simple moving average of $62.07.

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 (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.27. The business had revenue of $238.02 million during the quarter, compared to analysts' expectations of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The company's revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. Analysts forecast 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.