Keeley Teton Advisors LLC Decreases Stake in Progress Software Co. (NASDAQ:PRGS)

Keeley Teton Advisors LLC cut its position in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,778 shares of the software maker's stock after selling 9,044 shares during the quarter. Keeley Teton Advisors LLC owned about 0.19% of Progress Software worth $5,263,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. grew its holdings in Progress Software by 149.5% during the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock worth $33,000 after acquiring an additional 296 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Progress Software by 893.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock valued at $50,000 after purchasing an additional 688 shares in the last quarter. GAMMA Investing LLC grew its stake in Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker's stock worth $113,000 after purchasing an additional 619 shares during the period. TD Private Client Wealth LLC increased its holdings in Progress Software by 19.3% in the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker's stock worth $126,000 after purchasing an additional 301 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Progress Software by 23.2% in the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock valued at $141,000 after buying an additional 394 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PRGS shares. Citigroup raised their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. DA Davidson decreased their price target 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, April 14th. Wedbush reissued an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Jefferies Financial Group raised their target price on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, January 6th. Finally, StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Two 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.33.

Progress Software Stock Down 0.1 %

Shares of PRGS traded down $0.07 on Friday, reaching $56.00. The company's stock had a trading volume of 433,099 shares, compared to its average volume of 554,190. The stock has a market capitalization of $2.41 billion, a PE ratio of 35.90, a PEG ratio of 2.82 and a beta of 0.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The firm has a fifty day moving average of $55.80 and a 200-day moving average of $61.59.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The company's revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $1.25 earnings per share. Equities analysts predict that Progress Software Co. will post 4.01 EPS for the current year.

Insider Activity at Progress Software

In related news, insider Ian Pitt sold 703 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $56.29, for a total transaction of $39,571.87. Following the completion of the sale, the insider now directly owns 8,317 shares of the company's stock, valued at approximately $468,163.93. This trade represents a 7.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anthony Folger sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $844,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,564 shares in the company, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,185 shares of company stock valued at $1,024,193 over the last ninety days. Corporate insiders own 3.60% of the company's stock.

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.