Bokf Na Sells 565 Shares of Progress Software Co. (NASDAQ:PRGS)

Bokf Na lessened its position in shares of Progress Software Co. (NASDAQ:PRGS) by 4.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,775 shares of the software maker’s stock after selling 565 shares during the period. Bokf Na’s holdings in Progress Software were worth $795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of 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 acquiring an additional 296 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings 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 purchasing an additional 688 shares during the period. GAMMA Investing LLC increased its stake in Progress Software by 55.4% in the fourth 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. Blue Trust Inc. raised its holdings in shares of Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after purchasing an additional 394 shares during the period. Finally, KBC Group NV boosted 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 purchasing an additional 719 shares in the last quarter.

Progress Software Stock Down 1.4 %

Progress Software stock opened at $60.90 on Friday. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $56.83 and its 200 day simple moving average is $60.95. The stock has a market cap of $2.62 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67.

Progress Software (NASDAQ:PRGS) last issued its quarterly 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. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The company had revenue of $238.02 million during the quarter, compared to the consensus estimate of $235.64 million. During the same period last year, the business posted $1.25 earnings per share. Progress Software’s revenue was up 28.9% on a year-over-year basis. Research analysts predict that Progress Software Co. will post 4.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on PRGS shares. DA Davidson dropped 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 target price on shares of Progress Software in a report on Tuesday, April 1st. Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Citigroup raised their price objective 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. Finally, StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.33.

Insider Buying and Selling

In other news, insider Ian Pitt sold 703 shares of Progress Software stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $56.29, for a total value of $39,571.87. Following the completion of the transaction, the insider now owns 8,317 shares in the company, valued at $468,163.93. This trade represents a 7.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

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.