State of Wyoming Has $430,000 Stake in Progress Software Co. (NASDAQ:PRGS)

State of Wyoming lifted its holdings in shares of Progress Software Co. (NASDAQ:PRGS) by 615.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,602 shares of the software maker’s stock after buying an additional 5,679 shares during the quarter. State of Wyoming’s holdings in Progress Software were worth $430,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Progress Software by 149.5% during the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock worth $33,000 after buying an additional 296 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Progress Software by 893.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after buying an additional 688 shares during the period. Blue Trust Inc. grew its position in shares of 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 buying an additional 394 shares during the period. KBC Group NV grew its position in shares of Progress Software by 44.5% during the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock worth $152,000 after buying an additional 719 shares during the period. Finally, Assetmark Inc. grew its position in shares of Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock worth $215,000 after buying an additional 204 shares during the period.

Progress Software Stock Up 0.4%

Progress Software stock opened at $63.15 on Wednesday. The company’s 50 day simple moving average is $57.83 and its 200 day simple moving average is $60.82. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 40.48, a PEG ratio of 2.82 and a beta of 0.67. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.27. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The business had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. During the same quarter last year, the firm earned $1.25 EPS. Progress Software’s quarterly revenue was up 28.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Progress Software Co. will post 4.01 EPS for the current year.

Insider Buying and Selling at Progress Software

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction that occurred on Thursday, April 24th. The shares were 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 available at this hyperlink. Also, insider Ian Pitt sold 703 shares of Progress Software stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total transaction of $39,571.87. Following the completion of the transaction, the insider now directly owns 8,317 shares in the company, valued at approximately $468,163.93. The trade was a 7.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PRGS. DA Davidson lowered their price target on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, April 1st. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.33.

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.