Great Lakes Advisors LLC Purchases 1,606 Shares of Progress Software Co. (NASDAQ:PRGS)

Great Lakes Advisors LLC grew its position in shares of Progress Software Co. (NASDAQ:PRGS) by 31.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,681 shares of the software maker’s stock after purchasing an additional 1,606 shares during the quarter. Great Lakes Advisors LLC’s holdings in Progress Software were worth $435,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PRGS. Smartleaf Asset Management LLC grew its position in Progress Software by 893.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock valued at $50,000 after acquiring an additional 688 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Progress Software by 55.4% during the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after purchasing an additional 619 shares during the last quarter. TD Private Client Wealth LLC raised its position in Progress Software by 19.3% in 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 during the period. Blue Trust Inc. lifted 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 worth $141,000 after purchasing an additional 394 shares during the last quarter. Finally, KBC Group NV boosted its position in Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock valued at $152,000 after buying an additional 719 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PRGS. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. DA Davidson reissued a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, January 21st. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Friday, January 17th. Citigroup increased 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. Finally, Jefferies Financial Group boosted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $72.43.

Progress Software Price Performance

Shares of PRGS opened at $55.23 on Monday. The firm’s 50-day simple moving average is $57.83 and its two-hundred day simple moving average is $62.35. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The stock has a market cap of $2.40 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81.

Insider Buying and Selling

In related news, CAO Domenic Lococo sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.24, for a total value of $56,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. The trade was a 18.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Pitt sold 1,482 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. Following the sale, the insider now owns 7,613 shares in the company, valued at approximately $430,895.80. This represents a 16.29 % 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 worth $984,621 in the last 90 days. Insiders own 3.30% of the company’s stock.

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.