Edgestream Partners L.P. Has $2.33 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Edgestream Partners L.P. grew its holdings in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 36.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 34,601 shares of the software maker's stock after acquiring an additional 9,281 shares during the quarter. Edgestream Partners L.P. owned about 0.08% of Progress Software worth $2,331,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Boston Trust Walden Corp boosted its stake in Progress Software by 10.9% during the 2nd quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker's stock valued at $106,713,000 after purchasing an additional 192,899 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Progress Software by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker's stock valued at $76,465,000 after buying an additional 34,318 shares in the last quarter. Principal Financial Group Inc. grew its holdings in 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 acquiring an additional 43,936 shares during the period. Allspring Global Investments Holdings LLC raised its position in Progress Software by 11.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker's stock worth $64,985,000 after acquiring an additional 99,479 shares in the last quarter. Finally, Seizert Capital Partners LLC lifted its holdings in Progress Software by 3.3% in the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker's stock valued at $43,463,000 after acquiring an additional 20,355 shares during the last quarter.

Progress Software Stock Up 0.5 %

Shares of PRGS stock traded up $0.36 on Tuesday, reaching $68.67. 506,709 shares of the company's stock traded hands, compared to its average volume of 496,184. The company has a market capitalization of $2.95 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 7.29 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 company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The business's 50 day moving average price is $66.23 and its two-hundred day moving average price is $58.66.

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, beating the consensus estimate of $1.14 by $0.12. The company had revenue of $178.69 million for the quarter, compared to analysts' expectations of $176.16 million. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The business's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. On average, equities analysts forecast that Progress Software Co. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRGS has been the topic of several recent research reports. StockNews.com raised shares of Progress Software from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. Oppenheimer upped their price target on Progress Software from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Wedbush reiterated an "outperform" rating and set a $68.00 price objective on shares of Progress Software in a research report on Tuesday, September 10th. DA Davidson lifted 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. Finally, Guggenheim upped their target price on Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $67.67.

Insider Buying and Selling

In other Progress Software news, insider Ian Pitt sold 1,747 shares of the stock in a transaction 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 transaction, the insider now directly owns 3,167 shares of the company's stock, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 7,797 shares of the business's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total value of $525,439.83. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 3.30% of the stock is owned by corporate insiders.

Progress Software 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.