F M Investments LLC Has $3.50 Million Stake in Progress Software Co. (NASDAQ:PRGS)

F M Investments LLC reduced its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 57.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,643 shares of the software maker's stock after selling 71,463 shares during the quarter. F M Investments LLC owned approximately 0.12% of Progress Software worth $3,495,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its holdings in shares of Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock worth $215,000 after buying an additional 204 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Progress Software by 19.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker's stock worth $126,000 after acquiring an additional 301 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Progress Software by 5.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker's stock valued at $405,000 after buying an additional 317 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock worth $141,000 after purchasing an additional 394 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Progress Software by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker's stock valued at $560,000 after purchasing an additional 523 shares in the last quarter.

Progress Software Price Performance

NASDAQ PRGS remained flat at $57.08 during trading hours on Wednesday. The company's stock had a trading volume of 95,292 shares, compared to its average volume of 553,231. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The company's 50-day simple moving average is $55.89 and its 200 day simple moving average is $61.80. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating the consensus estimate of $1.04 by $0.27. The firm had revenue of $238.02 million during the quarter, compared to analysts' expectations of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The business's revenue for the quarter was up 28.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 earnings per share. On average, equities research analysts predict that Progress Software Co. will post 4.01 EPS for the current year.

Insider Buying and Selling at Progress Software

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the completion of the transaction, the chief accounting officer now owns 4,303 shares of the company's stock, valued at $242,000.72. This represents a 18.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 15,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,185 shares of company stock worth $1,024,193. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. DA Davidson cut their price objective on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Monday. Citigroup upped their price objective on Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Wedbush restated an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Guggenheim reiterated a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. Finally, StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Progress Software presently has a consensus rating of "Moderate Buy" and an average price target of $74.33.

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.