UniSuper Management Pty Ltd Lowers Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

UniSuper Management Pty Ltd cut its position in shares of Progress Software Co. (NASDAQ:PRGS) by 11.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 104,900 shares of the software maker’s stock after selling 13,300 shares during the period. UniSuper Management Pty Ltd’s holdings in Progress Software were worth $6,834,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after buying an additional 688 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Progress Software by 55.4% in 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 in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of 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 valued at $126,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. raised its position in Progress Software by 23.2% in 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 period. Finally, KBC Group NV lifted its stake in Progress Software by 44.5% in the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock worth $152,000 after purchasing an additional 719 shares during the last quarter.

Insiders Place Their Bets

In other news, CAO Domenic Lococo sold 1,000 shares of the 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 completion of the transaction, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at approximately $242,000.72. This represents a 18.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Anthony Folger sold 15,000 shares of Progress Software stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares in the company, valued at $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. Insiders sold 17,482 shares of company stock worth $984,621 over the last three months. Company insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PRGS. DA Davidson reiterated a “buy” rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, January 21st. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. 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. Jefferies Financial Group increased their price target 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. 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 report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and a consensus price target of $74.00.

Progress Software Trading Down 1.3 %

NASDAQ:PRGS opened at $53.52 on Friday. The company has a 50-day moving average price of $56.29 and a 200-day moving average price of $62.09. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.82 and a beta of 0.88. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56.

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.