Progress Software Co. (NASDAQ:PRGS) Shares Purchased by Amundi

Amundi boosted its stake in Progress Software Co. (NASDAQ:PRGS) by 110.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,117 shares of the software maker’s stock after buying an additional 13,187 shares during the period. Amundi owned approximately 0.06% of Progress Software worth $1,594,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PRGS. Smartleaf Asset Management LLC raised its stake in shares of Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after acquiring an additional 688 shares during the period. GAMMA Investing LLC increased its holdings in Progress Software by 55.4% in the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after purchasing an additional 619 shares during the last quarter. TD Private Client Wealth LLC raised its position 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 purchasing an additional 301 shares during the period. Blue Trust Inc. lifted its stake in Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after purchasing an additional 394 shares in the last quarter. Finally, KBC Group NV boosted its position 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 buying an additional 719 shares during the period.

Analysts Set New Price Targets

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

Insider Activity at Progress Software

In related news, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction that occurred on 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 $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the sale, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at $242,000.72. This represents a 18.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,482 shares of company stock valued at $984,621 over the last quarter. 3.40% of the stock is owned by insiders.

Progress Software Trading Up 0.2 %

NASDAQ PRGS opened at $55.34 on Tuesday. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The firm has a 50 day moving average of $57.63 and a two-hundred day moving average of $62.33. The stock has a market capitalization of $2.40 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48.

Progress Software Company 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.