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

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

Progress Software Stock Up 1.2 %

PRGS stock opened at $57.33 on Wednesday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 36.75, a P/E/G ratio of 2.86 and a beta of 0.93. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The business has a 50 day moving average price of $64.06 and a two-hundred day moving average price of $62.49. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48.

Hedge Funds Weigh In On Progress Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC lifted its stake in Progress Software by 967.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 35,709 shares of the software maker’s stock valued at $2,326,000 after purchasing an additional 32,364 shares during the last quarter. Olympiad Research LP acquired a new stake in shares of Progress Software in the fourth quarter valued at approximately $230,000. Hudson Edge Investment Partners Inc. lifted its position in shares of Progress Software by 4.8% in 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 last quarter. Handelsbanken Fonder AB boosted its stake in shares of Progress Software by 28.2% during the 4th quarter. Handelsbanken Fonder AB now owns 11,816 shares of the software maker’s stock worth $770,000 after acquiring an additional 2,600 shares during the period. Finally, New York State Teachers Retirement System increased its holdings in shares of Progress Software by 5.0% during the 4th quarter. New York State Teachers Retirement System now owns 80,750 shares of the software maker’s stock worth $5,261,000 after acquiring an additional 3,836 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Guggenheim reissued a “buy” rating and issued a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, January 21st. Jefferies Financial Group raised their price target 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. Finally, Oppenheimer boosted their price objective 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.