Integrated Investment Consultants LLC Has $407,000 Position in Progress Software Co. (NASDAQ:PRGS)

Integrated Investment Consultants LLC cut its stake in shares of Progress Software Co. (NASDAQ:PRGS) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,244 shares of the software maker’s stock after selling 787 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Progress Software were worth $407,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRGS. Leuthold Group LLC increased its position in Progress Software by 958.1% in the 3rd quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock valued at $27,605,000 after buying an additional 371,026 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in Progress Software by 74.2% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock valued at $39,728,000 after buying an additional 251,125 shares in the last quarter. Marshall Wace LLP increased its position in Progress Software by 530.5% in the 2nd quarter. Marshall Wace LLP now owns 263,062 shares of the software maker’s stock valued at $14,274,000 after buying an additional 221,336 shares in the last quarter. Citigroup Inc. increased its position in Progress Software by 42.8% in the 3rd quarter. Citigroup Inc. now owns 492,384 shares of the software maker’s stock valued at $33,172,000 after buying an additional 147,457 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Progress Software by 11.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock valued at $64,985,000 after buying an additional 99,479 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on PRGS. Citigroup boosted their price objective on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday. Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Friday. DA Davidson boosted their price objective on Progress Software from $65.00 to $70.00 and gave the stock 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, October 30th. Finally, Jefferies Financial Group boosted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Progress Software currently has an average rating of “Moderate Buy” and an average target price of $71.71.

Insider Activity at Progress Software

In other Progress Software news, insider Ian Pitt sold 1,747 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $65.07, for a total transaction of $113,677.29. Following the sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 3.30% of the stock is owned by company insiders.

Progress Software Price Performance

Progress Software stock opened at $62.94 on Friday. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.87. The business’s 50 day simple moving average is $66.65 and its 200 day simple moving average is $62.26. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 6.64 and a beta of 0.93.

About Progress Software

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.