Barclays PLC Has $18.49 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Barclays PLC reduced its position in Progress Software Co. (NASDAQ:PRGS - Free Report) by 89.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,749 shares of the software maker's stock after selling 2,321,347 shares during the period. Barclays PLC owned approximately 0.65% of Progress Software worth $18,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Progress Software by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock valued at $381,487,000 after purchasing an additional 45,246 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Progress Software by 45,918.9% in the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock worth $74,474,000 after purchasing an additional 1,140,626 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Progress Software by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after purchasing an additional 43,936 shares during the last quarter. Geode Capital Management LLC increased its holdings in Progress Software by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker's stock valued at $66,039,000 after buying an additional 4,927 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Progress Software by 0.7% during the 4th quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock worth $52,284,000 after buying an additional 5,474 shares during the last quarter.

Progress Software Trading Up 3.0 %

PRGS traded up $1.72 during trading on Wednesday, reaching $58.36. The company had a trading volume of 1,251,831 shares, compared to its average volume of 556,380. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The firm's 50-day simple moving average is $55.73 and its 200 day simple moving average is $61.45. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.82 and a beta of 0.85.

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

Insider Buying and Selling at Progress Software

In other news, CFO Anthony Folger sold 15,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares of the company's stock, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares of the company's stock, valued at $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,185 shares of company stock worth $1,024,193 over the last three months. Company insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

PRGS has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their price target on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a report on Monday, January 6th. DA Davidson dropped their target price on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Citigroup lifted their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Wedbush reiterated an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Finally, StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $74.33.

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.