Domenic Lococo Sells 1,000 Shares of Progress Software Co. (NASDAQ:PRGS) Stock

Progress Software Co. (NASDAQ:PRGS) CAO Domenic Lococo sold 1,000 shares of Progress Software stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the transaction, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Progress Software Stock Up 0.5 %

Shares of PRGS opened at $57.63 on Thursday. The company’s 50-day simple moving average is $63.86 and its 200-day simple moving average is $62.45. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The stock has a market capitalization of $2.50 billion, a PE ratio of 36.94, a P/E/G ratio of 2.86 and a beta of 0.93.

Analyst Ratings Changes

Several research firms have recently commented on PRGS. Citigroup lifted their price target on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Oppenheimer raised their price objective on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson reaffirmed a “buy” rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, January 21st. Finally, StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $72.43.

Institutional Investors Weigh In On Progress Software

A number of hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its stake in shares of Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after acquiring an additional 688 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Progress Software by 76.7% in the third 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. TD Private Client Wealth LLC grew its stake in Progress Software by 19.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock worth $126,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. increased its holdings in Progress Software by 23.2% during the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after purchasing an additional 394 shares during the period. Finally, KBC Group NV raised its position in Progress Software by 44.5% in the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after purchasing an additional 719 shares in the last quarter.

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.