Progress Software Co. (NASDAQ:PRGS) Shares Bought by Leuthold Group LLC

Leuthold Group LLC raised its stake in Progress Software Co. (NASDAQ:PRGS - Free Report) by 958.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 409,752 shares of the software maker's stock after buying an additional 371,026 shares during the period. Progress Software comprises 3.0% of Leuthold Group LLC's holdings, making the stock its biggest holding. Leuthold Group LLC owned about 0.96% of Progress Software worth $27,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new stake in Progress Software in the 2nd quarter valued at about $27,000. GAMMA Investing LLC raised its holdings in shares of Progress Software by 76.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker's stock valued at $75,000 after purchasing an additional 485 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Progress Software by 29.2% in the 2nd quarter. Blue Trust Inc. now owns 1,640 shares of the software maker's stock valued at $87,000 after purchasing an additional 371 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of Progress Software by 993.5% in the 1st quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker's stock valued at $116,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Progress Software in the 2nd quarter valued at about $160,000.

Insider Activity

In other news, CFO Anthony Folger sold 7,797 shares of the company's stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total value of $525,439.83. Following 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Anthony Folger sold 7,797 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total transaction of $525,439.83. Following the sale, the chief financial officer now directly owns 33,774 shares of the company's stock, valued at approximately $2,276,029.86. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ian Pitt sold 1,747 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the sale, the insider now directly owns 3,167 shares in the company, valued at $206,076.69. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,844 shares of company stock valued at $656,550 in the last ninety days. Insiders own 3.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PRGS shares. Guggenheim boosted their price target on shares of Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Tuesday, October 22nd. Oppenheimer boosted their price objective on shares of Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Wedbush reiterated an "outperform" rating and set a $68.00 price objective on shares of Progress Software in a research note on Tuesday, September 10th. Finally, DA Davidson boosted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Progress Software presently has a consensus rating of "Moderate Buy" and an average target price of $67.67.

Progress Software Stock Performance

Progress Software stock traded down $0.20 during mid-day trading on Monday, reaching $64.70. 251,739 shares of the company traded hands, compared to its average volume of 505,803. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $67.89. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 8.21 and a beta of 0.92. The firm's fifty day moving average is $61.50 and its two-hundred day moving average is $55.80.

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

About Progress Software

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.