Caxton Associates LP Has $2.26 Million Stake in Progress Software Co. (NASDAQ:PRGS)

Caxton Associates LP lifted its holdings in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 68.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,607 shares of the software maker's stock after purchasing an additional 14,006 shares during the quarter. Caxton Associates LP owned 0.08% of Progress Software worth $2,255,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. increased its stake in Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock worth $74,474,000 after acquiring an additional 1,140,626 shares during the period. Vanguard Group Inc. grew its holdings in shares of Progress Software by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock worth $381,487,000 after purchasing an additional 45,246 shares in the last quarter. Principal Financial Group Inc. raised its stake in Progress Software by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker's stock valued at $70,418,000 after purchasing an additional 43,936 shares in the last quarter. Sei Investments Co. lifted its position in Progress Software by 22.7% during the fourth quarter. Sei Investments Co. now owns 65,952 shares of the software maker's stock worth $4,297,000 after purchasing an additional 12,191 shares during the period. Finally, Amundi lifted its position in Progress Software by 110.5% during the fourth quarter. Amundi now owns 25,117 shares of the software maker's stock worth $1,594,000 after purchasing an additional 13,187 shares during the period.

Insider Buying and Selling at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the company's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total value of $83,209.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ian Pitt sold 703 shares of Progress Software stock in a transaction 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 transaction, the insider now directly owns 8,317 shares of the company's stock, valued at $468,163.93. This represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company's stock.

Progress Software Stock Up 1.7 %

Shares of PRGS opened at $61.14 on Monday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 39.19, a PEG ratio of 2.82 and a beta of 0.85. 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 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $56.20 and a 200-day moving average of $61.05.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $235.64 million. During the same period last year, the firm posted $1.25 earnings per share. The business's revenue for the quarter was up 28.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRGS has been the subject of several analyst reports. Guggenheim restated a "buy" rating and issued a $83.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. DA Davidson cut their target price on Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group lifted their price target on Progress Software from $65.00 to $70.00 and gave the company a "hold" rating in a research note on Monday, January 6th. StockNews.com downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Wedbush reiterated an "outperform" rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Progress Software presently has an average rating of "Moderate Buy" and an average price target of $74.33.

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.

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