Progress Software Co. (NASDAQ:PRGS) Shares Sold by Swedbank AB

Swedbank AB reduced its holdings in Progress Software Co. (NASDAQ:PRGS) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 439,626 shares of the software maker’s stock after selling 1,978 shares during the quarter. Swedbank AB’s holdings in Progress Software were worth $28,642,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PRGS. GAMMA Investing LLC lifted its holdings in Progress Software by 76.7% in the third quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after acquiring an additional 485 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of Progress Software by 19.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after purchasing an additional 301 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Progress Software by 23.2% in 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. KBC Group NV boosted its holdings in Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker’s stock worth $152,000 after buying an additional 719 shares in the last quarter. Finally, Prudent Man Advisors LLC acquired a new position in Progress Software during the third quarter worth about $201,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PRGS shares. DA Davidson reissued a “buy” rating and set a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. StockNews.com lowered Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer lifted their price target on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group increased their price objective on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Finally, Guggenheim restated a “buy” rating and set a $83.00 target price on shares of Progress Software in a report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.43.

Progress Software Trading Up 1.2 %

Shares of PRGS stock opened at $57.00 on Friday. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 6.24 and a beta of 0.93. The company has a current ratio of 0.81, a quick ratio of 1.23 and a debt-to-equity ratio of 3.48. The firm has a 50-day moving average price of $64.81 and a 200 day moving average price of $62.38. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56.

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.