8,263 Shares in Progress Software Co. (NASDAQ:PRGS) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new stake in shares of Progress Software Co. (NASDAQ:PRGS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,263 shares of the software maker’s stock, valued at approximately $448,000.

Several other large investors have also recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Progress Software by 29.2% during 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 boosted its stake in Progress Software by 993.5% during the 1st quarter. EntryPoint Capital LLC now owns 2,176 shares of the software maker’s stock valued at $116,000 after purchasing an additional 1,977 shares during the last quarter. TFO Wealth Partners LLC increased its holdings in shares of Progress Software by 225,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,252 shares of the software maker’s stock worth $122,000 after purchasing an additional 2,251 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Progress Software in the second quarter worth $160,000. Finally, Assetmark Inc. lifted its holdings in shares of Progress Software by 19.5% during the fourth quarter. Assetmark Inc. now owns 3,300 shares of the software maker’s stock valued at $179,000 after purchasing an additional 539 shares in the last quarter.

Progress Software Stock Up 0.5 %

PRGS opened at $57.15 on Wednesday. The firm’s 50 day simple moving average is $57.13 and its two-hundred day simple moving average is $53.55. The company has a market capitalization of $2.44 billion, a PE ratio of 34.85, a PEG ratio of 7.45 and a beta of 0.91. Progress Software Co. has a 1-year low of $48.00 and a 1-year high of $60.33. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 1.98.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 25th. The software maker reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.13. Progress Software had a return on equity of 36.88% and a net margin of 10.29%. The company had revenue of $175.08 million for the quarter, compared to analysts’ expectations of $168.60 million. As a group, equities analysts forecast that Progress Software Co. will post 3.91 EPS for the current year.

Insiders Place Their Bets

In other Progress Software news, insider Ian Pitt sold 584 shares of Progress Software stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $55.00, for a total transaction of $32,120.00. Following the transaction, the insider now owns 3,167 shares of the company’s stock, valued at $174,185. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Loren Jarrett sold 9,961 shares of the business’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 transaction, the executive vice president now directly owns 13,406 shares of the company’s stock, valued at approximately $750,467.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ian Pitt sold 584 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $55.00, for a total transaction of $32,120.00. Following the sale, the insider now directly owns 3,167 shares of the company’s stock, valued at $174,185. The disclosure for this sale can be found here. Insiders sold a total of 13,763 shares of company stock worth $765,004 over the last quarter. 3.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PRGS shares. DA Davidson reiterated a “buy” rating and issued a $65.00 price objective on shares of Progress Software in a report on Tuesday, September 10th. Guggenheim reissued a “buy” rating and set a $64.00 price objective on shares of Progress Software in a report on Tuesday, June 25th. Wedbush restated an “outperform” rating and issued a $68.00 target price on shares of Progress Software in a report on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $66.00 target price on shares of Progress Software in a research report on Wednesday, June 26th. Finally, Jefferies Financial Group lowered their price target on Progress Software from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Progress Software 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.