Susquehanna Fundamental Investments LLC Buys Shares of 42,160 Progress Software Co. (NASDAQ:PRGS)

Susquehanna Fundamental Investments LLC acquired a new stake in Progress Software Co. (NASDAQ:PRGS - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 42,160 shares of the software maker's stock, valued at approximately $2,747,000. Susquehanna Fundamental Investments LLC owned 0.10% of Progress Software as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in Progress Software by 6.6% in the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock valued at $215,000 after buying an additional 204 shares during the period. Summit Investment Advisors Inc. grew its holdings in Progress Software by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker's stock valued at $290,000 after purchasing an additional 239 shares during the period. First Trust Advisors LP increased its position in Progress Software by 0.3% during the fourth quarter. First Trust Advisors LP now owns 95,908 shares of the software maker's stock worth $6,248,000 after purchasing an additional 281 shares during the last quarter. Bessemer Group Inc. raised its stake in Progress Software by 149.5% during the fourth 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 period. Finally, Avantax Advisory Services Inc. boosted its holdings in shares of Progress Software by 5.4% in 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 during the last quarter.

Progress Software Stock Down 0.4 %

Shares of PRGS stock traded down $0.25 on Monday, hitting $60.90. The stock had a trading volume of 43,301 shares, compared to its average volume of 557,666. Progress Software Co. has a 52-week low of $48.00 and a 52-week high of $70.56. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 39.12, a P/E/G ratio of 2.82 and a beta of 0.85. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The stock's 50 day moving average is $56.20 and its 200-day moving average is $61.05.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, compared to the consensus estimate of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The company's revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. As a group, research analysts expect that Progress Software Co. will post 4.01 earnings per share for the current year.

Insider Transactions at Progress Software

In related news, insider Ian Pitt sold 703 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $56.29, for a total transaction of $39,571.87. Following the sale, the insider now directly owns 8,317 shares of the company's stock, valued at approximately $468,163.93. This represents a 7.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total transaction of $83,209.56. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a report on Monday, January 6th. DA Davidson reduced their price target on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Guggenheim reissued a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Citigroup lifted their target price on shares of Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, January 17th. Finally, Wedbush reiterated an "outperform" rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.