Deutsche Bank AG Has $51.41 Million Stock Position in Progress Software Co. (NASDAQ:PRGS)

Deutsche Bank AG raised its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 789,109 shares of the software maker's stock after buying an additional 82,156 shares during the quarter. Deutsche Bank AG owned 1.82% of Progress Software worth $51,410,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its stake in shares of Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock worth $50,000 after purchasing an additional 688 shares during the period. Blue Trust Inc. increased its stake in Progress Software by 23.2% in the fourth quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock valued at $141,000 after purchasing an additional 394 shares in the last quarter. KBC Group NV raised its holdings in shares of Progress Software by 44.5% during the fourth quarter. KBC Group NV now owns 2,335 shares of the software maker's stock valued at $152,000 after purchasing an additional 719 shares during the period. Finally, Assetmark Inc. boosted its position in shares of Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock worth $215,000 after purchasing an additional 204 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup boosted their target price on Progress Software from $65.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, January 17th. Wedbush reaffirmed an "outperform" rating and set a $75.00 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 on the stock in a report on Monday, April 14th. Guggenheim restated a "buy" rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. Finally, StockNews.com lowered shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $74.33.

Progress Software Trading Up 1.9%

Shares of Progress Software stock opened at $62.05 on Tuesday. The company has a market capitalization of $2.67 billion, a P/E ratio of 39.78, a price-to-earnings-growth ratio of 2.82 and a beta of 0.67. The stock has a fifty day simple moving average of $56.95 and a 200 day simple moving average of $60.88. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) 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 firm had revenue of $238.02 million during the quarter, compared to analyst estimates of $235.64 million. During the same quarter in the prior year, the business posted $1.25 EPS. The business's revenue was up 28.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other Progress Software news, insider Ian Pitt sold 703 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $56.29, for a total value of $39,571.87. Following the completion of the sale, the insider now directly owns 8,317 shares of the company's stock, valued at $468,163.93. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

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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