Progress Software Co. (NASDAQ:PRGS) Stock Holdings Trimmed by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd lessened its holdings in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 32.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 29,250 shares of the software maker's stock after selling 13,760 shares during the period. Dynamic Technology Lab Private Ltd owned 0.07% of Progress Software worth $1,971,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PRGS. Vanguard Group Inc. boosted its stake in Progress Software by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 5,629,836 shares of the software maker's stock worth $300,127,000 after purchasing an additional 95,594 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of Progress Software by 2.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 60,683 shares of the software maker's stock worth $3,235,000 after purchasing an additional 1,601 shares during the period. BOKF NA acquired a new position in Progress Software during the first quarter worth about $307,000. Price T Rowe Associates Inc. MD grew its position in Progress Software by 15.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,564 shares of the software maker's stock worth $1,683,000 after acquiring an additional 4,268 shares during the last quarter. Finally, Delphi Management Inc. MA acquired a new position in Progress Software in the 1st quarter valued at approximately $1,192,000.

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 7,797 shares of Progress Software stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total transaction of $525,439.83. Following the sale, 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 18.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Pitt sold 1,747 shares of Progress Software stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the completion of the transaction, the insider now owns 3,167 shares of the company's stock, valued at $206,076.69. This trade represents a 35.55 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by company insiders.

Progress Software Price Performance

Shares of NASDAQ:PRGS traded down $0.25 during trading on Tuesday, hitting $69.64. 414,807 shares of the company's stock were exchanged, compared to its average volume of 496,526. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 37.24, a PEG ratio of 8.73 and a beta of 0.92. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. The business's 50-day simple moving average is $65.16 and its 200 day simple moving average is $58.06.

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

Analysts Set New Price Targets

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

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.