UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,875 Shares of Progress Software Co. (NASDAQ:PRGS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 121,350 shares of the software maker’s stock after selling 3,875 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Progress Software were worth $8,175,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. Boston Trust Walden Corp boosted its holdings in shares of Progress Software by 10.9% during the second quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker’s stock worth $106,713,000 after acquiring an additional 192,899 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Progress Software by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker’s stock worth $76,465,000 after purchasing an additional 34,318 shares during the period. Principal Financial Group Inc. raised its position in shares of Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after buying an additional 43,936 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Progress Software by 11.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock valued at $64,985,000 after acquiring an additional 99,479 shares during the last quarter. Finally, Seizert Capital Partners LLC raised its holdings in shares of Progress Software by 3.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after buying an additional 20,355 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PRGS shares. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Guggenheim upped their price target on shares of Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. DA Davidson raised their price objective on Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and issued a $68.00 target price on shares of Progress Software in a report on Tuesday, September 10th. Finally, Oppenheimer lifted their price target on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Progress Software has an average rating of “Buy” and an average target price of $67.67.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 7,797 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the completion of the sale, the chief financial officer now directly owns 33,774 shares in the company, valued at approximately $2,276,029.86. This trade represents a 18.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ian Pitt sold 1,747 shares of Progress Software stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the transaction, the insider now directly owns 3,167 shares of the company’s stock, valued at approximately $206,076.69. This trade represents a 35.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by corporate insiders.

Progress Software Trading Down 0.3 %

NASDAQ PRGS opened at $68.71 on Tuesday. The firm has a market capitalization of $2.95 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 7.36 and a beta of 0.92. The business’s 50-day moving average price is $66.72 and its two-hundred day moving average price is $59.29. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.14 by $0.12. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The business had revenue of $178.69 million for the quarter, compared to analysts’ expectations of $176.16 million. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, analysts expect that Progress Software Co. will post 3.96 EPS 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.