Rice Hall James & Associates LLC Purchases 12,261 Shares of Progress Software Co. (NASDAQ:PRGS)

Rice Hall James & Associates LLC raised its holdings in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,091 shares of the software maker's stock after acquiring an additional 12,261 shares during the period. Rice Hall James & Associates LLC owned about 0.32% of Progress Software worth $9,303,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRGS shares. Oppenheimer increased their price objective on Progress Software from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. DA Davidson raised their target price on Progress Software from $65.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Guggenheim lifted their price target on Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Wedbush reiterated an "outperform" rating and issued a $68.00 price objective on shares of Progress Software in a report on Tuesday, September 10th. Finally, StockNews.com raised shares of Progress Software from a "buy" rating to a "strong-buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $67.67.

Insider Activity

In related 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 transaction 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Anthony Folger sold 7,797 shares of the business's stock in a transaction dated 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 in the company, valued at $2,276,029.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ian Pitt sold 1,747 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Progress Software Stock Performance

Shares of NASDAQ:PRGS traded up $0.32 during trading on Friday, hitting $64.41. The company's stock had a trading volume of 148,568 shares, compared to its average volume of 503,005. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 34.27, a P/E/G ratio of 8.18 and a beta of 0.92. The company has a 50-day moving average of $61.81 and a 200-day moving average of $55.96. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $67.89.

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 for the quarter, topping the consensus estimate of $1.14 by $0.12. The business had revenue of $178.69 million for the quarter, compared to analysts' expectations of $176.16 million. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The company's revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 EPS. On average, sell-side analysts expect that Progress Software Co. will post 3.95 earnings per share for the current 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.