Dynamic Technology Lab Private Ltd Has $1.97 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

Dynamic Technology Lab Private Ltd lessened its position in Progress Software Co. (NASDAQ:PRGS) by 32.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,250 shares of the software maker’s stock after selling 13,760 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.07% of Progress Software worth $1,971,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PRGS. Leuthold Group LLC raised its position in shares of Progress Software by 958.1% during the third quarter. Leuthold Group LLC now owns 409,752 shares of the software maker’s stock valued at $27,605,000 after buying an additional 371,026 shares during the last quarter. Swedbank AB raised its stake in shares of Progress Software by 144.2% in the 2nd quarter. Swedbank AB now owns 474,447 shares of the software maker’s stock valued at $25,743,000 after buying an additional 280,195 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of 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 acquiring an additional 251,125 shares during the period. Marshall Wace LLP boosted its position in shares of Progress Software by 530.5% during the 2nd quarter. Marshall Wace LLP now owns 263,062 shares of the software maker’s stock valued at $14,274,000 after acquiring an additional 221,336 shares in the last quarter. Finally, Boston Trust Walden Corp increased its stake in Progress Software by 10.9% in the second quarter. Boston Trust Walden Corp now owns 1,966,696 shares of the software maker’s stock valued at $106,713,000 after acquiring an additional 192,899 shares during the period.

Insiders Place Their Bets

In related news, insider Ian Pitt sold 1,747 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total transaction of $113,677.29. Following the transaction, the insider now directly owns 3,167 shares of the company’s stock, valued at $206,076.69. This represents a 35.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 7,797 shares of Progress Software stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $67.39, for a total transaction of $525,439.83. Following the completion of the sale, the chief financial officer now directly owns 33,774 shares of the company’s stock, valued at approximately $2,276,029.86. This trade represents a 18.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

Progress Software Trading Up 0.9 %

Shares of PRGS opened at $69.89 on Tuesday. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.23 and a current ratio of 1.23. The business’s fifty day moving average is $65.16 and its 200-day moving average is $58.06. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 8.73 and a beta of 0.92.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.12. Progress Software had a net margin of 11.55% and a return on equity of 38.69%. The firm had revenue of $178.69 million for the quarter, compared to analysts’ expectations of $176.16 million. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Equities analysts anticipate that Progress Software Co. will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on PRGS. Oppenheimer raised their price target on shares of Progress Software from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson boosted their price objective on shares of Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Guggenheim lifted their price objective on shares of Progress Software from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush reissued an “outperform” rating and issued a $68.00 target price on shares of Progress Software in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $67.67.

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.