236,877 Shares in Progress Software Co. (NASDAQ:PRGS) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Progress Software Co. (NASDAQ:PRGS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 236,877 shares of the software maker’s stock, valued at approximately $15,432,000. Raymond James Financial Inc. owned approximately 0.55% of Progress Software as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in Progress Software by 6.6% in the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock worth $215,000 after acquiring an additional 204 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after buying an additional 301 shares during the period. Blue Trust Inc. boosted its position in Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after buying an additional 394 shares during the period. Harbor Capital Advisors Inc. boosted its position in Progress Software by 6.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after buying an additional 523 shares during the period. Finally, Hudson Edge Investment Partners Inc. boosted its position in Progress Software by 4.8% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 13,068 shares of the software maker’s stock valued at $851,000 after buying an additional 600 shares during the period.

Insider Buying and Selling

In other Progress Software news, insider Ian Pitt sold 1,482 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This trade represents a 16.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at $2,508,953.20. This represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,482 shares of company stock valued at $984,621 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PRGS shares. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Friday, January 17th. Citigroup upped their price objective on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Jefferies Financial Group upped 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, DA Davidson reaffirmed a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

Progress Software Price Performance

PRGS stock opened at $55.65 on Wednesday. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The company has a market cap of $2.41 billion, a P/E ratio of 35.67, a PEG ratio of 2.82 and a beta of 0.88. The firm has a 50-day moving average of $57.46 and a 200 day moving average of $62.32. 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 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.