Vestcor Inc lowered its position in shares of Progress Software Co. (NASDAQ:PRGS – Free Report) by 35.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,857 shares of the software maker’s stock after selling 2,669 shares during the quarter. Vestcor Inc’s holdings in Progress Software were worth $316,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PRGS. Swiss National Bank increased its holdings in shares of Progress Software by 1.1% during the fourth quarter. Swiss National Bank now owns 84,400 shares of the software maker’s stock worth $5,499,000 after buying an additional 900 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Progress Software by 5.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker’s stock valued at $405,000 after purchasing an additional 317 shares in the last quarter. Great Lakes Advisors LLC increased its holdings in Progress Software by 31.6% during the 4th quarter. Great Lakes Advisors LLC now owns 6,681 shares of the software maker’s stock valued at $435,000 after purchasing an additional 1,606 shares in the last quarter. HighTower Advisors LLC raised its position in Progress Software by 24.8% in the 4th quarter. HighTower Advisors LLC now owns 13,249 shares of the software maker’s stock valued at $863,000 after purchasing an additional 2,631 shares during the last quarter. Finally, Wealthfront Advisers LLC acquired a new position in Progress Software in the fourth quarter worth $2,861,000.
Progress Software Stock Performance
PRGS stock opened at $55.34 on Tuesday. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. 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 company has a market cap of $2.40 billion, a P/E ratio of 35.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The business’s fifty day moving average is $57.63 and its 200-day moving average is $62.33.
Analyst Ratings Changes
Get Our Latest Analysis on PRGS
Insider Activity at Progress Software
In related news, CFO Anthony Folger sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the transaction, the insider now owns 7,613 shares of the company’s stock, valued at approximately $430,895.80. This represents a 16.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,482 shares of company stock worth $984,621. 3.40% of the stock is owned by insiders.
Progress Software Company 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.
See Also
- Five stocks we like better than Progress Software
- The How and Why of Investing in Gold Stocks
- Can TikTok Stock Picks Really Make You Rich?
- Which Wall Street Analysts are the Most Accurate?
- The “Quality” Rotation: Back to Basics Investing
- Differences Between Momentum Investing and Long Term Investing
- Occidental Petroleum: 4 Reasons to Love These Prices
Receive News & Ratings for Progress Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Progress Software and related companies with MarketBeat.com's FREE daily email newsletter.