Progress Software Co. (NASDAQ:PRGS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its position in Progress Software Co. (NASDAQ:PRGS) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,682 shares of the software maker’s stock after selling 45,923 shares during the period. Dimensional Fund Advisors LP owned 3.01% of Progress Software worth $84,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in 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 purchasing an additional 296 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Progress Software by 893.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker’s stock worth $50,000 after acquiring an additional 688 shares during the last quarter. GAMMA Investing LLC grew its stake in Progress Software by 55.4% during the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock valued at $113,000 after acquiring an additional 619 shares in the last quarter. Blue Trust Inc. raised its holdings in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock valued at $141,000 after acquiring an additional 394 shares during the last quarter. Finally, KBC Group NV lifted its stake in Progress Software by 44.5% in 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.

Insider Activity

In other Progress Software news, CAO Domenic Lococo sold 1,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total value of $56,240.00. Following the sale, the chief accounting officer now owns 4,303 shares of the company’s stock, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.60, for a total value of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This represents a 16.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,613 shares of company stock valued at $1,107,403. 3.40% of the stock is currently owned by company insiders.

Progress Software Stock Up 1.2 %

Shares of NASDAQ PRGS opened at $59.89 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The business’s 50 day moving average is $55.93 and its two-hundred day moving average is $61.22. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 2.82 and a beta of 0.85.

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

Analyst Ratings Changes

A number of equities analysts recently commented on PRGS shares. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Jefferies Financial Group raised their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Citigroup raised their price target on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to 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.