Yufan Stephanie Wang Sells 1,428 Shares of Progress Software Co. (NASDAQ:PRGS) Stock

Progress Software Co. (NASDAQ:PRGS) insider Yufan Stephanie Wang sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Progress Software Stock Up 0.1 %

Shares of NASDAQ:PRGS opened at $59.18 on Tuesday. The company has a market capitalization of $2.55 billion, a PE ratio of 37.94, a P/E/G ratio of 2.82 and a beta of 0.85. 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 twelve month low of $48.00 and a twelve month high of $70.56. The firm has a 50 day simple moving average of $55.86 and a 200-day simple moving average of $61.23.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. The business had revenue of $238.02 million for the quarter, compared to analysts’ expectations of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. On average, equities analysts predict that Progress Software Co. will post 4.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PRGS shares. StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. DA Davidson decreased their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Wedbush reiterated an “outperform” rating and issued a $75.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Citigroup boosted their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

Hedge Funds Weigh In On Progress Software

A number of institutional investors have recently modified their holdings of the business. QRG Capital Management Inc. increased its holdings in shares of Progress Software by 1.8% in the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock valued at $546,000 after acquiring an additional 187 shares during the period. Assetmark Inc. increased its stake in Progress Software by 6.6% in the 4th 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 period. Summit Investment Advisors Inc. increased its stake in Progress Software by 5.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker’s stock valued at $290,000 after buying an additional 239 shares during the period. First Trust Advisors LP increased its stake in Progress Software by 0.3% in the 4th quarter. First Trust Advisors LP now owns 95,908 shares of the software maker’s stock valued at $6,248,000 after buying an additional 281 shares during the period. Finally, Bessemer Group Inc. increased its stake in Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock valued at $33,000 after buying an additional 296 shares during the period.

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.