D. E. Shaw & Co. Inc. Has $26.05 Million Stock Holdings in Progress Software Co. (NASDAQ:PRGS)

D. E. Shaw & Co. Inc. increased its position in shares of Progress Software Co. (NASDAQ:PRGS - Free Report) by 44.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 399,909 shares of the software maker's stock after acquiring an additional 122,463 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.92% of Progress Software worth $26,054,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Progress Software by 45,918.9% in the fourth quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker's stock valued at $74,474,000 after buying an additional 1,140,626 shares during the period. Natixis lifted its stake in Progress Software by 287.1% in the fourth quarter. Natixis now owns 518,700 shares of the software maker's stock valued at $33,793,000 after buying an additional 384,700 shares during the period. Raymond James Financial Inc. acquired a new position in Progress Software in the fourth quarter valued at about $15,432,000. Price T Rowe Associates Inc. MD lifted its stake in Progress Software by 468.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 186,297 shares of the software maker's stock valued at $12,139,000 after buying an additional 153,517 shares during the period. Finally, Norges Bank acquired a new position in Progress Software in the fourth quarter valued at about $9,699,000.

Insider Activity at Progress Software

In related news, insider Yufan Stephanie Wang sold 1,428 shares of the firm'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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ian Pitt sold 703 shares of the firm's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $56.29, for a total transaction of $39,571.87. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com lowered Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Citigroup increased their price target on Progress Software from $65.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, January 17th. DA Davidson lowered their price target on Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a report on Monday, April 14th. Wedbush restated an "outperform" rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday, April 1st. Finally, Guggenheim restated a "buy" rating and issued a $83.00 price target on shares of Progress Software in a report on Tuesday, April 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $74.33.

Progress Software Stock Down 1.2%

Shares of PRGS traded down $0.72 during mid-day trading on Wednesday, hitting $61.80. 432,956 shares of the company's stock were exchanged, compared to its average volume of 563,159. The company has a market cap of $2.66 billion, a PE ratio of 39.62, a P/E/G ratio of 2.82 and a beta of 0.67. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The company has a 50-day simple moving average of $57.18 and a 200 day simple moving average of $60.90. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

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

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.