F M Investments LLC Grows Stake in Progress Software Co. (NASDAQ:PRGS)

F M Investments LLC boosted its position in Progress Software Co. (NASDAQ:PRGS) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,106 shares of the software maker’s stock after buying an additional 1,920 shares during the quarter. F M Investments LLC owned approximately 0.29% of Progress Software worth $8,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC grew its stake in Progress Software by 9.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 138,091 shares of the software maker’s stock valued at $9,303,000 after buying an additional 12,261 shares in the last quarter. Leuthold Group LLC boosted its stake in Progress Software by 958.1% in the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock worth $27,605,000 after purchasing an additional 371,026 shares during the period. GHP Investment Advisors Inc. grew its holdings in Progress Software by 12.5% during the 3rd quarter. GHP Investment Advisors Inc. now owns 100,380 shares of the software maker’s stock valued at $6,763,000 after buying an additional 11,138 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of Progress Software in the third quarter worth about $248,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Progress Software by 11.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock valued at $64,985,000 after acquiring an additional 99,479 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PRGS shares. Wedbush restated an “outperform” rating and set a $68.00 target price on shares of Progress Software in a research report on Tuesday, September 10th. Guggenheim raised their target price on shares of Progress Software from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. DA Davidson boosted their price target on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Oppenheimer upped their target price on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $67.67.

Progress Software Trading Up 0.4 %

Shares of Progress Software stock traded up $0.26 during trading on Friday, reaching $64.35. The company’s stock had a trading volume of 260,998 shares, compared to its average volume of 503,535. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $67.89. The firm’s 50-day moving average is $62.09 and its two-hundred day moving average is $56.11. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 8.18 and a beta of 0.92.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 EPS for the quarter, topping the consensus estimate of $1.14 by $0.12. The firm had revenue of $178.69 million for the quarter, compared to the consensus estimate of $176.16 million. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, sell-side analysts anticipate that Progress Software Co. will post 3.95 earnings per share for the current year.

Insider Buying and Selling at Progress Software

In related news, CFO Anthony Folger sold 7,797 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the transaction, the chief financial officer now owns 33,774 shares in the company, valued at $2,276,029.86. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Progress Software news, insider Ian Pitt sold 1,747 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the transaction, the insider now owns 3,167 shares in the company, valued at approximately $206,076.69. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony Folger sold 7,797 shares of Progress Software stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total value of $525,439.83. Following the sale, the chief financial officer now owns 33,774 shares in the company, valued at $2,276,029.86. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

About Progress Software

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.