Inspire Investing LLC Has $467,000 Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Inspire Investing LLC reduced its stake in Progress Software Co. (NASDAQ:PRGS) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,937 shares of the software maker’s stock after selling 378 shares during the period. Inspire Investing LLC’s holdings in Progress Software were worth $467,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new stake in Progress Software during the second quarter worth approximately $27,000. GAMMA Investing LLC boosted its stake in Progress Software by 76.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after purchasing an additional 485 shares during the period. Blue Trust Inc. grew its holdings in Progress Software by 29.2% in the 2nd quarter. Blue Trust Inc. now owns 1,640 shares of the software maker’s stock valued at $87,000 after buying an additional 371 shares in the last quarter. EntryPoint Capital LLC increased its position in Progress Software by 993.5% during the 1st quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker’s stock worth $116,000 after buying an additional 1,977 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Progress Software during the second quarter worth $160,000.

Analyst Ratings Changes

PRGS has been the subject of several analyst reports. Jefferies Financial Group dropped their price objective on shares of Progress Software from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Wednesday, June 26th. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Monday. Guggenheim upped their target price on Progress Software from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. DA Davidson boosted their price target on Progress Software from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush reiterated an “outperform” rating and set a $68.00 price objective on shares of Progress Software in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Progress Software presently has a consensus rating of “Buy” and an average price target of $66.00.

Progress Software Trading Up 1.4 %

Shares of Progress Software stock opened at $66.25 on Tuesday. The firm’s 50 day moving average is $59.60 and its 200 day moving average is $54.81. The firm has a market capitalization of $2.83 billion, a PE ratio of 40.40, a price-to-earnings-growth ratio of 8.44 and a beta of 0.92. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $67.48. The company has a current ratio of 1.23, a quick ratio of 0.95 and a debt-to-equity ratio of 1.87.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Tuesday, September 24th. The software maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.12. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The company had revenue of $178.69 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period in the prior year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts forecast that Progress Software Co. will post 3.95 earnings per share for the current fiscal year.

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.