Harbor Capital Advisors Inc. Has $560,000 Stake in Progress Software Co. (NASDAQ:PRGS)

Harbor Capital Advisors Inc. boosted its stake in shares of Progress Software Co. (NASDAQ:PRGSFree Report) by 6.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,594 shares of the software maker’s stock after buying an additional 523 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Progress Software were worth $560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Progress Software by 2.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,409,225 shares of the software maker’s stock worth $76,465,000 after buying an additional 34,318 shares during the period. Principal Financial Group Inc. lifted its holdings in Progress Software by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock worth $70,418,000 after buying an additional 43,936 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Progress Software by 11.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 964,599 shares of the software maker’s stock worth $64,985,000 after buying an additional 99,479 shares during the period. Seizert Capital Partners LLC lifted its holdings in Progress Software by 3.3% during the 3rd quarter. Seizert Capital Partners LLC now owns 645,132 shares of the software maker’s stock worth $43,463,000 after buying an additional 20,355 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in Progress Software by 74.2% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 589,698 shares of the software maker’s stock worth $39,728,000 after buying an additional 251,125 shares during the period.

Insiders Place Their Bets

In other Progress Software news, CFO Anthony Folger sold 7,797 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the sale, the chief financial officer now owns 33,774 shares in the company, valued at $2,276,029.86. This trade represents a 18.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ian Pitt sold 1,747 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the sale, the insider now owns 3,167 shares in the company, valued at $206,076.69. The trade was a 35.55 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Progress Software Trading Down 0.2 %

NASDAQ:PRGS opened at $62.09 on Tuesday. The company has a market cap of $2.66 billion, a P/E ratio of 33.20, a P/E/G ratio of 7.35 and a beta of 0.93. The stock’s fifty day moving average price is $66.95 and its two-hundred day moving average price is $62.07. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.23 and a quick ratio of 1.23.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. StockNews.com raised Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. DA Davidson lifted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Guggenheim lifted their price objective on Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Oppenheimer lifted their price objective on Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their price objective on Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Progress Software presently has a consensus rating of “Buy” and a consensus price target of $70.17.

View Our Latest Stock Report on PRGS

About Progress Software

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PRGS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Progress Software Co. (NASDAQ:PRGSFree Report).

Institutional Ownership by Quarter for Progress Software (NASDAQ:PRGS)

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