Seizert Capital Partners LLC Trims Stock Position in Progress Software Co. (NASDAQ:PRGS)

Seizert Capital Partners LLC decreased its position in shares of Progress Software Co. (NASDAQ:PRGS) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 579,172 shares of the software maker’s stock after selling 65,960 shares during the quarter. Progress Software makes up about 1.7% of Seizert Capital Partners LLC’s holdings, making the stock its 28th largest position. Seizert Capital Partners LLC owned 1.34% of Progress Software worth $37,733,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its stake in Progress Software by 6.6% in the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after buying an additional 204 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Progress Software by 19.3% during 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. grew its position in Progress Software by 23.2% during the 4th 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. Harbor Capital Advisors Inc. increased its stake in Progress Software by 6.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock valued at $560,000 after purchasing an additional 523 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Progress Software by 2.8% in the third quarter. Asset Management One Co. Ltd. now owns 21,359 shares of the software maker’s stock valued at $1,439,000 after buying an additional 583 shares during the last quarter.

Wall Street Analyst Weigh In

PRGS has been the topic of several recent research reports. DA Davidson restated a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research report on Tuesday, January 21st. StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Friday, January 17th. Jefferies Financial Group increased their price target on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Finally, Citigroup boosted their price objective on shares of Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.43.

Insider Buying and Selling at Progress Software

In related news, CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the sale, the chief accounting officer now owns 4,303 shares in the company, valued at $242,000.72. This represents a 18.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.30, for a total value of $844,500.00. Following the transaction, the chief financial officer now directly owns 44,564 shares of the company’s stock, valued at approximately $2,508,953.20. This represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,482 shares of company stock valued at $984,621. Corporate insiders own 3.40% of the company’s stock.

Progress Software Stock Performance

Shares of PRGS opened at $54.98 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a 50-day simple moving average of $59.42 and a 200-day simple moving average of $62.46. The company has a market capitalization of $2.38 billion, a PE ratio of 35.24, a P/E/G ratio of 2.82 and a beta of 0.93.

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.