Paradice Investment Management LLC Sells 17,619 Shares of Progress Software Co. (NASDAQ:PRGS)

Paradice Investment Management LLC reduced its stake in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 241,493 shares of the software maker's stock after selling 17,619 shares during the quarter. Progress Software makes up approximately 3.1% of Paradice Investment Management LLC's portfolio, making the stock its 17th largest position. Paradice Investment Management LLC owned about 0.56% of Progress Software worth $15,733,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Progress Software by 55.4% in the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker's stock valued at $113,000 after acquiring an additional 619 shares during the last quarter. TD Private Client Wealth LLC lifted its stake 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 valued at $126,000 after acquiring an additional 301 shares during the last quarter. 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 acquiring an additional 394 shares during the last quarter. KBC Group NV lifted its stake in Progress Software by 44.5% in the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker's stock valued at $152,000 after acquiring an additional 719 shares during the last quarter. Finally, Prudent Man Advisors LLC acquired a new stake in Progress Software in the third quarter valued at approximately $201,000.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRGS. Guggenheim reiterated a "buy" rating and issued a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. DA Davidson reiterated a "buy" rating and issued a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. StockNews.com cut shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Finally, Citigroup boosted their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $72.43.

Progress Software Stock Performance

PRGS stock traded down $1.46 on Friday, reaching $55.10. 570,017 shares of the company were exchanged, compared to its average volume of 768,448. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The stock's fifty day moving average price is $61.06 and its 200 day moving average price is $62.42. The firm has a market capitalization of $2.39 billion, a PE ratio of 35.32, a PEG ratio of 2.82 and a beta of 0.93. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Insider Buying and Selling

In related news, CFO Anthony Folger sold 15,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the business's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the transaction, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,482 shares of company stock valued at $984,621. 3.40% of the stock is owned by company insiders.

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.