Caisse Des Depots ET Consignations Buys New Shares in Progress Software Co. (NASDAQ:PRGS)

Caisse Des Depots ET Consignations acquired a new position in Progress Software Co. (NASDAQ:PRGS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,773 shares of the software maker's stock, valued at approximately $376,000.

Several other large investors also recently made changes to their positions in PRGS. Pacer Advisors Inc. lifted its position in Progress Software by 45,918.9% during the 4th 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 in the last quarter. Principal Financial Group Inc. lifted its position in shares of Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after purchasing an additional 43,936 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Progress Software by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 478,945 shares of the software maker's stock valued at $32,267,000 after purchasing an additional 17,448 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Progress Software in the third quarter valued at approximately $575,000. Finally, GAMMA Investing LLC raised its position in Progress Software by 55.4% in the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker's stock worth $113,000 after purchasing an additional 619 shares during the last quarter.

Insiders Place Their Bets

In other news, insider Ian Pitt sold 1,482 shares of the firm's 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 directly owns 7,613 shares of the company's stock, valued at $430,895.80. This trade represents a 16.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,482 shares of company stock worth $984,621. Corporate insiders own 3.40% of the company's stock.

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Progress Software Trading Up 10.2 %

Progress Software stock traded up $5.28 during midday trading on Tuesday, hitting $56.79. 1,058,381 shares of the stock were exchanged, compared to its average volume of 745,449. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The stock has a market capitalization of $2.44 billion, a PE ratio of 36.35, a P/E/G ratio of 2.82 and a beta of 0.88. 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 company has a fifty day simple moving average of $55.83 and a two-hundred day simple moving average of $62.08.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.04 by $0.27. The firm had revenue of $238.02 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $1.25 EPS. Equities research analysts anticipate that Progress Software Co. will post 4.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PRGS. DA Davidson reissued a "buy" rating and issued a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. Citigroup lifted 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. StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Guggenheim reiterated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research report on Tuesday. Finally, 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. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Progress Software presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.17.

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.