Progress Software Corporation: A Review of Its Holdings and Insider Activity

F M Investments LLC trimmed its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 57.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company, with notable transactions including:

The firm’s holdings in Progress Software were reduced by F M Investments LLC from 111,106 shares to 53,643 shares, resulting in a decrease of 57.1% in its ownership stake. This reduction was due to the sale of 71,463 shares during the quarter. • **Martingale Asset Management L P** increased its stake in Progress Software by 1.4% during the fourth quarter, with its current holdings valued at $2,844,000. • **Bank of Nova Scotia** raised its holdings in Progress Software by 9.2% during the fourth quarter, with its current holdings valued at $9,078,000. • **Invesco Ltd.** lifted its position in shares of Progress Software by 0.7% during the fourth quarter, with its current holdings valued at $52,284,000. • **Wedbush Securities Inc.** boosted its holdings in shares of Progress Software by 39.9% during the 4th quarter, with its current holdings valued at $352,000. These investors, along with others, have shown interest in Progress Software’s stock, with their recent transactions highlighting the company’s growth and prospects.

Progress Software Corporation: A Review of Its Stock Performance and Earnings Results

Progress Software Corporation is a software company that develops, deploys, and manages business applications. Its stock has been performing well, with shares opening at $56.84 on Friday. The company has a market capitalization of $2.45 billion and a price-to-earnings ratio of 36.44.

Progress Software Corporation Stock Metrics	Market Capitalization ($B)	Price-to-Earnings Ratio
Market Capitalization	$2.45	36.44

In its recent earnings results, Progress Software Corporation reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, which was up 28.9% on a year-over-year basis.

Insider Activity at Progress Software Corporation

There has been some insider activity at Progress Software Corporation, with two recent transactions worth noting. * CAO Domenic Lococo sold 1,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. * Ian Pitt sold 1,482 shares of Progress Software stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total value of $83,881.20. These transactions are subject to the 13F filing requirements and are available on the Securities & Exchange Commission’s website.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company, with some of their opinions and ratings worth noting. * DA Davidson reissued a “buy” rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday, January 21st. * Wedbush reiterated an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a research note on Tuesday, April 1st. * Citigroup upped their price target 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. * Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Overall, the stock has received a consensus rating of “Moderate Buy” and a consensus price target of $75.17 from MarketBeat.

Progress Software Corporation Company Profile

Progress Software Corporation develops, deploys, and manages business applications. The company offers a range of products, including OpenEdge, Chef, Developer Tools, Kemp LoadMaster, and Sitefinity. The company’s products cater to various industries and use cases, including:
• OpenEdge: An application development platform for running business-critical applications. • Chef: A DevOps/DevSecOps automation software. • Developer Tools: Software development tooling collection, including.NET and JavaScript UI components for web, desktop, and mobile applications. • Kemp LoadMaster: An application delivery and security product offering cloud-native, and virtual, and hardware load balancers. • Sitefinity: A digital experience platform foundation delivering intelligent and ROI-driving tools for marketers. Overall, Progress Software Corporation is a company that offers a range of solutions for businesses, with its products and services helping to drive growth and success.

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