SG Americas Securities LLC Sells 12,270 Shares of Progress Software Co. (NASDAQ:PRGS)

SG Americas Securities LLC lowered its stake in Progress Software Co. (NASDAQ:PRGS - Free Report) by 67.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,845 shares of the software maker's stock after selling 12,270 shares during the period. SG Americas Securities LLC's holdings in Progress Software were worth $394,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Progress Software by 1.7% during the first quarter. Vanguard Group Inc. now owns 5,629,836 shares of the software maker's stock valued at $300,127,000 after purchasing an additional 95,594 shares during the last quarter. Boston Trust Walden Corp grew its position in shares of 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 buying an additional 192,899 shares during the last quarter. Dimensional Fund Advisors LP raised 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 worth $76,465,000 after acquiring an additional 34,318 shares during the period. Principal Financial Group Inc. lifted its holdings in Progress Software by 0.6% in the first quarter. Principal Financial Group Inc. now owns 1,032,624 shares of the software maker's stock worth $55,049,000 after acquiring an additional 6,166 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Progress Software by 22.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 865,120 shares of the software maker's stock valued at $46,941,000 after acquiring an additional 156,796 shares during the period.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 7,797 shares of Progress Software 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 sale, the chief financial officer now owns 33,774 shares of the company's stock, valued at $2,276,029.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.30% of the stock is owned by insiders.

Progress Software Price Performance

NASDAQ:PRGS traded down $0.42 during mid-day trading on Friday, reaching $65.91. 274,266 shares of the company were exchanged, compared to its average volume of 509,543. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. The stock has a market cap of $2.83 billion, a PE ratio of 35.25, a PEG ratio of 8.38 and a beta of 0.92. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $67.89. The company has a fifty day moving average of $60.46 and a 200 day moving average of $55.16.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its earnings results on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.12. The firm had revenue of $178.69 million during the quarter, compared to analyst estimates of $176.16 million. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The business's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. On average, research analysts anticipate that Progress Software Co. will post 3.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRGS shares. Oppenheimer lifted their price objective on shares of Progress Software from $66.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, September 25th. DA Davidson upped their price target on shares of Progress Software from $65.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. StockNews.com raised Progress Software from a "buy" rating to a "strong-buy" rating in a research note on Monday. Jefferies Financial Group lowered their price target on Progress Software from $60.00 to $55.00 and set a "hold" rating on the stock in a report on Wednesday, June 26th. Finally, Wedbush reiterated an "outperform" rating and issued a $68.00 price objective on shares of Progress Software in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $66.00.

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.