Universal Beteiligungs und Servicegesellschaft mbH Takes $7.97 Million Position in Progress Software Co. (NASDAQ:PRGS)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Progress Software Co. (NASDAQ:PRGS) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 122,270 shares of the software maker’s stock, valued at approximately $7,966,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRGS. Blue Trust Inc. boosted its holdings in Progress Software by 23.2% in the fourth 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 last quarter. KBC Group NV boosted its holdings 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. EMC Capital Management boosted its holdings in Progress Software by 43.8% in the fourth quarter. EMC Capital Management now owns 3,822 shares of the software maker’s stock worth $249,000 after purchasing an additional 1,164 shares during the last quarter. Meritage Portfolio Management boosted its holdings in Progress Software by 7.3% in the fourth quarter. Meritage Portfolio Management now owns 14,843 shares of the software maker’s stock worth $967,000 after purchasing an additional 1,008 shares during the last quarter. Finally, GHP Investment Advisors Inc. boosted its holdings in Progress Software by 4.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 104,572 shares of the software maker’s stock worth $6,813,000 after purchasing an additional 4,192 shares during the last quarter.

Progress Software Stock Up 0.7%

PRGS opened at $61.48 on Friday. 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 1-year low of $48.00 and a 1-year high of $70.56. The company has a market capitalization of $2.65 billion, a PE ratio of 39.41, a PEG ratio of 2.82 and a beta of 0.67. The firm’s 50 day simple moving average is $58.84 and its two-hundred day simple moving average is $60.56.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results 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 the consensus estimate of $235.64 million. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 28.9% on a year-over-year basis. As a group, equities analysts forecast that Progress Software Co. will post 4.01 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PRGS shares. Wedbush restated 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 issued a $83.00 target price on shares of Progress Software in a report on Tuesday, April 1st. Finally, DA Davidson decreased their price target on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

Insider Activity

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction 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 filing with the SEC, which can be accessed through this link. Also, insider Ian Pitt sold 703 shares of Progress Software stock in a transaction 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 sale, the insider now owns 8,317 shares in the company, valued at approximately $468,163.93. This represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.40% of the company’s stock.

About Progress Software

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.