Choreo LLC Reduces Position in Progress Software Co. (NASDAQ:PRGS)

Choreo LLC reduced its holdings in Progress Software Co. (NASDAQ:PRGS) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,648 shares of the software maker’s stock after selling 1,990 shares during the period. Choreo LLC’s holdings in Progress Software were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PRGS. GAMMA Investing LLC lifted its stake in Progress Software by 76.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock worth $75,000 after purchasing an additional 485 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Progress Software by 19.3% in the third 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 during the last quarter. Blue Trust Inc. lifted its position in Progress Software by 23.2% during the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after buying an additional 394 shares in the last quarter. KBC Group NV boosted its stake 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 during the last quarter. Finally, Prudent Man Advisors LLC purchased a new stake in Progress Software in the 3rd quarter valued at $201,000.

Progress Software Stock Down 0.1 %

Progress Software stock opened at $57.19 on Monday. The company has a market capitalization of $2.48 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.93. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The firm has a 50 day moving average price of $63.43 and a 200 day moving average price of $62.52.

Insider Activity

In related news, CAO Domenic Lococo sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.24, for a total transaction of $56,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,303 shares in the company, valued at $242,000.72. This trade represents a 18.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Anthony Folger sold 15,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the chief financial officer now owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,482 shares of company stock valued at $984,621. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PRGS has been the topic of several recent research reports. Oppenheimer boosted their price target on shares of Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Guggenheim reiterated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Friday, January 17th. 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. StockNews.com cut Progress Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, DA Davidson reissued a “buy” rating and set a $75.00 target price on shares of Progress Software in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.43.

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.