Susquehanna Fundamental Investments LLC acquired a new stake in Progress Software Co. (NASDAQ:PRGS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,379 shares of the software maker's stock, valued at approximately $1,540,000. Susquehanna Fundamental Investments LLC owned about 0.07% of Progress Software as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in Progress Software in the second quarter valued at about $27,000. Blue Trust Inc. increased its holdings in Progress Software by 29.2% in the second quarter. Blue Trust Inc. now owns 1,640 shares of the software maker's stock valued at $87,000 after buying an additional 371 shares during the last quarter. EntryPoint Capital LLC increased its holdings in Progress Software by 993.5% in the first quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker's stock valued at $116,000 after buying an additional 1,977 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Progress Software by 225,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,252 shares of the software maker's stock valued at $122,000 after purchasing an additional 2,251 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Progress Software during the second quarter valued at approximately $160,000.
In other Progress Software news, EVP Loren Jarrett sold 9,961 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $55.98, for a total value of $557,616.78. Following the completion of the sale, the executive vice president now directly owns 13,406 shares in the company, valued at $750,467.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Progress Software news, EVP Loren Jarrett sold 9,961 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $55.98, for a total value of $557,616.78. Following the completion of the sale, the executive vice president now directly owns 13,406 shares in the company, valued at $750,467.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ian Pitt sold 584 shares of the company's stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $55.00, for a total value of $32,120.00. Following the completion of the sale, the insider now owns 3,167 shares of the company's stock, valued at $174,185. The disclosure for this sale can be found here. Insiders sold 10,845 shares of company stock worth $607,170 over the last ninety days. Company insiders own 3.40% of the company's stock.
Several research firms have recently commented on PRGS. DA Davidson upped their target price on Progress Software from $65.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. StockNews.com raised Progress Software from a "buy" rating to a "strong-buy" rating in a report on Wednesday, September 25th. Guggenheim upped their target price on Progress Software from $64.00 to $70.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Wedbush reaffirmed an "outperform" rating and set a $68.00 target price on shares of Progress Software in a report on Tuesday, September 10th. Finally, Jefferies Financial Group lowered their target price on Progress Software from $60.00 to $55.00 and set a "hold" rating for the company in a report on Wednesday, June 26th. One equities research 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $66.00.
Check Out Our Latest Research Report on PRGS
Shares of NASDAQ PRGS opened at $65.80 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98. The stock has a 50 day simple moving average of $58.10 and a 200-day simple moving average of $53.99. The company has a market cap of $2.81 billion, a PE ratio of 40.12, a P/E/G ratio of 7.32 and a beta of 0.91. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $67.48.
Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 24th. The software maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.12. The business had revenue of $178.69 million during the quarter, compared to the consensus estimate of $176.16 million. Progress Software had a return on equity of 38.35% and a net margin of 11.55%. The business's revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. On average, equities research analysts forecast that Progress Software Co. will post 3.91 EPS for the current year.
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.
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