Sei Investments Co. Has $4.30 Million Stock Position in Progress Software Co. (NASDAQ:PRGS)

Sei Investments Co. raised its position in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,952 shares of the software maker's stock after purchasing an additional 12,191 shares during the period. Sei Investments Co. owned 0.15% of Progress Software worth $4,297,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas lifted its stake in shares of Progress Software by 108.9% in the 4th quarter. Teacher Retirement System of Texas now owns 47,267 shares of the software maker's stock valued at $3,079,000 after purchasing an additional 24,639 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Progress Software during the fourth quarter valued at about $448,000. Cibc World Markets Corp acquired a new stake in shares of Progress Software in the fourth quarter worth about $259,000. Swiss National Bank boosted its stake in shares of Progress Software by 1.1% during the 4th quarter. Swiss National Bank now owns 84,400 shares of the software maker's stock worth $5,499,000 after acquiring an additional 900 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Progress Software by 5.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker's stock valued at $405,000 after acquiring an additional 317 shares during the last quarter.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the completion of the transaction, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total value of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. The trade was a 18.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 over the last ninety days. 3.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PRGS shares. Guggenheim restated a "buy" rating and issued a $83.00 target price on shares of Progress Software in a report on Tuesday, April 1st. DA Davidson reaffirmed a "buy" rating and set a $75.00 price objective on shares of Progress Software in a report on Tuesday, January 21st. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, January 6th. StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $75.00 price target on shares of Progress Software in a research report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.17.

Progress Software Stock Performance

NASDAQ PRGS traded up $0.28 during midday trading on Monday, hitting $56.45. The company had a trading volume of 1,086,083 shares, compared to its average volume of 550,559. The firm has a fifty day simple moving average of $55.93 and a two-hundred day simple moving average of $62.07. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 2.82 and a beta of 0.85. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.27. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The firm had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. During the same period in the previous year, the company posted $1.25 earnings per share. The company's quarterly revenue was up 28.9% compared to the same quarter last year. Equities analysts forecast that Progress Software Co. will post 4.01 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.