Versor Investments LP Invests $534,000 in Progress Software Co. (NASDAQ:PRGS)

Versor Investments LP bought a new position in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 8,200 shares of the software maker's stock, valued at approximately $534,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Creative Planning grew its holdings in Progress Software by 20.1% during the third quarter. Creative Planning now owns 7,774 shares of the software maker's stock valued at $524,000 after purchasing an additional 1,300 shares during the period. F M Investments LLC boosted its position in shares of Progress Software by 1.6% during the third quarter. F M Investments LLC now owns 125,106 shares of the software maker's stock worth $8,429,000 after purchasing an additional 1,920 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Progress Software by 2.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 21,359 shares of the software maker's stock valued at $1,439,000 after buying an additional 583 shares during the period. QRG Capital Management Inc. increased its position in shares of Progress Software by 22.7% in the 3rd quarter. QRG Capital Management Inc. now owns 10,797 shares of the software maker's stock valued at $727,000 after buying an additional 1,996 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock worth $70,418,000 after buying an additional 43,936 shares during the period.

Insider Buying and Selling

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now directly owns 4,303 shares of the company's stock, valued at $242,000.72. The trade was a 18.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $844,500.00. Following the completion of the transaction, the chief financial officer now owns 44,564 shares of the company's stock, valued at $2,508,953.20. The trade was a 25.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,482 shares of company stock worth $984,621. 3.40% of the stock is owned by insiders.

Progress Software Stock Up 1.7 %

Shares of PRGS traded up $0.94 during mid-day trading on Tuesday, hitting $54.98. 450,164 shares of the company's stock were exchanged, compared to its average volume of 750,706. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The company has a market cap of $2.38 billion, a PE ratio of 35.24, a P/E/G ratio of 2.82 and a beta of 0.93. The company has a 50-day simple moving average of $59.65 and a 200 day simple moving average of $62.47.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Guggenheim reissued 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 price objective on shares of Progress Software in a research report on Tuesday, January 21st. Jefferies Financial Group increased their target price on Progress Software from $65.00 to $70.00 and gave the stock 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 note on Thursday, January 23rd. Finally, Citigroup increased their price objective on shares of Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, January 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Progress Software has an average rating of "Moderate Buy" and an average price target of $72.43.

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.