Walleye Trading LLC Has $225,000 Stake in Progress Software Co. (NASDAQ:PRGS)

Walleye Trading LLC cut its holdings in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 76.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,454 shares of the software maker's stock after selling 11,367 shares during the quarter. Walleye Trading LLC's holdings in Progress Software were worth $225,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PRGS. Pacer Advisors Inc. increased its position in shares of Progress Software by 45,918.9% in the fourth 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 period. Raymond James Financial Inc. bought a new stake in shares of Progress Software during the 4th quarter worth approximately $15,432,000. Norges Bank bought a new position in Progress Software in the fourth quarter valued at approximately $9,699,000. Arrowstreet Capital Limited Partnership raised its position in Progress Software by 228.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 208,450 shares of the software maker's stock valued at $13,581,000 after purchasing an additional 144,892 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Progress Software by 55.7% in the 4th quarter. LSV Asset Management now owns 358,449 shares of the software maker's stock valued at $23,353,000 after purchasing an additional 128,249 shares in the last quarter.

Analyst Ratings Changes

Several analysts recently weighed in on PRGS shares. Guggenheim restated a "buy" rating and set a $83.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. DA Davidson dropped their target price on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price objective 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. Finally, Citigroup boosted their target price 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Progress Software has an average rating of "Moderate Buy" and an average price target of $74.33.

Insider Buying and Selling

In other news, insider Ian Pitt sold 1,482 shares of Progress Software stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the completion of the transaction, the insider now directly owns 7,613 shares of the company's stock, valued at approximately $430,895.80. This trade represents a 16.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anthony Folger sold 15,000 shares of the business'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 directly owns 44,564 shares in the company, valued at $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,185 shares of company stock valued at $1,024,193 over the last ninety days. 3.40% of the stock is owned by company insiders.

Progress Software Stock Down 2.1 %

NASDAQ:PRGS opened at $54.83 on Tuesday. Progress Software Co. has a one year low of $48.00 and a one 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 cap of $2.36 billion, a PE ratio of 35.15, a P/E/G ratio of 2.82 and a beta of 0.85. The firm's 50 day simple moving average is $55.75 and its 200 day simple moving average is $61.48.

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

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.

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