Hudson Edge Investment Partners Inc. Has $851,000 Stake in Progress Software Co. (NASDAQ:PRGS)

Hudson Edge Investment Partners Inc. boosted its position in shares of Progress Software Co. (NASDAQ:PRGS) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,068 shares of the software maker’s stock after acquiring an additional 600 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Progress Software were worth $851,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PRGS. Assetmark Inc. raised its holdings in shares of Progress Software by 10.2% in the 3rd quarter. Assetmark Inc. now owns 3,097 shares of the software maker’s stock valued at $209,000 after purchasing an additional 286 shares during the period. TD Private Client Wealth LLC raised its stake 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 buying an additional 301 shares during the period. Blue Trust Inc. raised its stake in Progress Software by 23.2% in 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. lifted its position in shares of Progress Software by 6.5% in 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 last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Progress Software by 2.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 21,359 shares of the software maker’s stock worth $1,439,000 after acquiring an additional 583 shares during the period.

Progress Software Stock Performance

Shares of NASDAQ:PRGS opened at $55.10 on Friday. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The company’s 50 day moving average price is $61.06 and its two-hundred day moving average price is $62.42. The firm has a market cap of $2.39 billion, a PE ratio of 35.32, a PEG ratio of 2.82 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48.

Insider Buying and Selling

In other news, insider Ian Pitt sold 1,482 shares of the company’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 sale, the insider now owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This represents a 16.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of the business’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 owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. 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 90 days. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Citigroup upped their price target 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. Guggenheim restated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Friday, January 17th. Finally, DA Davidson restated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a report 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, the company has an average rating of “Moderate Buy” and a consensus price target of $72.43.

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.