Kendall Capital Management Has $1.31 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Kendall Capital Management raised its position in Progress Software Co. (NASDAQ:PRGS - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,095 shares of the software maker's stock after buying an additional 5,480 shares during the quarter. Kendall Capital Management's holdings in Progress Software were worth $1,309,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Progress Software by 45,918.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock valued at $74,474,000 after acquiring an additional 1,140,626 shares during the period. Victory Capital Management Inc. lifted its position in shares of Progress Software by 62.1% during the 3rd quarter. Victory Capital Management Inc. now owns 111,640 shares of the software maker's stock valued at $7,521,000 after acquiring an additional 42,773 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker's stock worth $39,728,000 after purchasing an additional 251,125 shares in the last quarter. Seizert Capital Partners LLC lifted its position in Progress Software by 3.3% during the third quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker's stock worth $43,463,000 after purchasing an additional 20,355 shares during the period. Finally, Principal Financial Group Inc. grew its stake 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 buying an additional 43,936 shares in the last quarter.

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Progress Software Price Performance

Shares of NASDAQ PRGS traded down $0.57 during mid-day trading on Wednesday, hitting $54.57. 530,184 shares of the stock traded hands, compared to its average volume of 724,919. The company has a market cap of $2.37 billion, a PE ratio of 34.98, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $58.46 and a two-hundred day simple moving average of $62.42.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares of the company's stock, valued at $430,895.80. The trade was a 16.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the chief financial officer now owns 44,564 shares of the company's stock, valued at approximately $2,508,953.20. The trade was a 25.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,482 shares of company stock worth $984,621. Company insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

PRGS has been the subject of several analyst reports. DA Davidson restated a "buy" rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. Citigroup boosted their price objective on shares of Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. 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 report on Monday, January 6th. Guggenheim reiterated a "buy" rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Finally, StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $72.43.

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.