Progress Software Co. (NASDAQ:PRGS) Shares Sold by Chartwell Investment Partners LLC

Chartwell Investment Partners LLC reduced its stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 8.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 140,314 shares of the software maker's stock after selling 13,699 shares during the period. Chartwell Investment Partners LLC owned about 0.33% of Progress Software worth $9,453,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Progress Software during the 2nd quarter valued at $27,000. GAMMA Investing LLC boosted its position in shares of Progress Software by 76.7% during the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker's stock valued at $75,000 after purchasing an additional 485 shares in the last quarter. Blue Trust Inc. grew its stake in Progress Software by 29.2% in the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker's stock worth $87,000 after purchasing an additional 371 shares during the period. EntryPoint Capital LLC raised its holdings in Progress Software by 993.5% in the first quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker's stock worth $116,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Progress Software during the 2nd quarter valued at $160,000.

Progress Software Trading Up 1.0 %

PRGS stock traded up $0.69 during midday trading on Monday, reaching $68.28. The company's stock had a trading volume of 246,508 shares, compared to its average volume of 500,779. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a fifty day simple moving average of $62.93 and a two-hundred day simple moving average of $56.73. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $68.50. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 36.14, a PEG ratio of 8.53 and a beta of 0.92.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its earnings results on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.12. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The business had revenue of $178.69 million for the quarter, compared to analyst estimates of $176.16 million. During the same quarter last year, the firm posted $0.90 earnings per share. The business's revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Progress Software Co. will post 3.96 EPS for the current year.

Insider Activity at Progress Software

In other Progress Software news, CFO Anthony Folger sold 7,797 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the transaction, the chief financial officer now owns 33,774 shares of the company's stock, valued at approximately $2,276,029.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Anthony Folger sold 7,797 shares of the company's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total value of $525,439.83. Following the transaction, the chief financial officer now owns 33,774 shares of the company's stock, valued at $2,276,029.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ian Pitt sold 1,747 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the transaction, the insider now directly owns 3,167 shares in the company, valued at approximately $206,076.69. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PRGS. DA Davidson boosted their target price on Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Wedbush restated an "outperform" rating and issued a $68.00 price target on shares of Progress Software in a research note on Tuesday, September 10th. Oppenheimer raised their target price on Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Progress Software from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Finally, Guggenheim upped their target price 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 research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $67.67.

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.