Seizert Capital Partners LLC Sells 65,960 Shares of Progress Software Co. (NASDAQ:PRGS)

Seizert Capital Partners LLC cut its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 10.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,172 shares of the software maker's stock after selling 65,960 shares during the quarter. Progress Software makes up about 1.7% of Seizert Capital Partners LLC's holdings, making the stock its 28th biggest holding. Seizert Capital Partners LLC owned 1.34% of Progress Software worth $37,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position in shares of Progress Software by 893.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock worth $50,000 after purchasing an additional 688 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Progress Software by 55.4% during the fourth quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker's stock valued at $113,000 after buying an additional 619 shares during the last quarter. TD Private Client Wealth LLC boosted 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 in the last quarter. Blue Trust Inc. grew its stake in Progress Software by 23.2% during the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock worth $141,000 after buying an additional 394 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker's stock worth $152,000 after acquiring an additional 719 shares during the last quarter.

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Progress Software Stock Up 2.9 %

NASDAQ:PRGS traded up $1.62 during mid-day trading on Friday, reaching $57.23. The stock had a trading volume of 679,491 shares, compared to its average volume of 737,507. Progress Software Co. has a 1-year low of $48.00 and a 1-year high of $70.56. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 36.69, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The stock's 50 day simple moving average is $59.00 and its two-hundred day simple moving average is $62.37.

Analyst Ratings Changes

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

Insider Activity at Progress Software

In other news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now owns 7,613 shares of the company's stock, valued at $430,895.80. The trade was a 16.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value 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. The trade was a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,482 shares of company stock worth $984,621 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Progress Software 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.