Captrust Financial Advisors Acquires 10,336 Shares of Progress Software Co. (NASDAQ:PRGS)

Captrust Financial Advisors raised its stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 60.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,535 shares of the software maker's stock after buying an additional 10,336 shares during the quarter. Captrust Financial Advisors owned about 0.06% of Progress Software worth $1,855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. raised its position in shares of Progress Software by 10.2% during the third quarter. Assetmark Inc. now owns 3,097 shares of the software maker's stock worth $209,000 after purchasing an additional 286 shares during the period. Blue Trust Inc. raised its holdings in Progress Software by 29.2% during the 2nd quarter. Blue Trust Inc. now owns 1,640 shares of the software maker's stock worth $87,000 after buying an additional 371 shares during the period. GAMMA Investing LLC lifted its stake in Progress Software by 76.7% in the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker's stock valued at $75,000 after buying an additional 485 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Progress Software in the second quarter valued at approximately $27,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Progress Software by 1.9% in the third quarter. Exchange Traded Concepts LLC now owns 29,559 shares of the software maker's stock valued at $1,991,000 after buying an additional 559 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on PRGS. StockNews.com raised shares of Progress Software from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Wedbush reissued an "outperform" rating and issued a $68.00 target price on shares of Progress Software in a research report on Tuesday, September 10th. DA Davidson upped their price target on Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, Guggenheim lifted their price objective on shares of Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $67.67.

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 7,797 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total value of $525,439.83. Following the transaction, the chief financial officer now directly owns 33,774 shares of the company's stock, valued at $2,276,029.86. This represents a 18.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Pitt sold 1,747 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the sale, the insider now owns 3,167 shares of the company's stock, valued at approximately $206,076.69. This represents a 35.55 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Progress Software Stock Up 0.4 %

Shares of NASDAQ:PRGS traded up $0.30 during midday trading on Friday, hitting $68.95. The stock had a trading volume of 490,569 shares, compared to its average volume of 400,699. The company has a market cap of $2.96 billion, a P/E ratio of 36.87, a PEG ratio of 7.45 and a beta of 0.92. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The business's 50-day simple moving average is $66.69 and its 200-day simple moving average is $59.05. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.12. The company had revenue of $178.69 million during the quarter, compared to the consensus estimate of $176.16 million. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The company's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. On average, sell-side analysts forecast that Progress Software Co. will post 3.96 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.