American Century Companies Inc. Purchases 83,660 Shares of Progyny, Inc. $PGNY

Key Points

• American Century Companies Inc. significantly increased its stake in Progyny, Inc. by 445.4% during the 1st quarter, owning a total of 102,443 shares valued at approximately $2.29 million.
• Multiple institutional investors have also raised their holdings in Progyny, with 94.93% of the company's stock now owned by institutional investors.
• Progyny's stock was upgraded by analysts to "outperform" with a price target of $28.00, despite the company missing earnings estimates in its recent quarterly report.

American Century Companies Inc. raised its holdings in Progyny, Inc. (NASDAQ:PGNY - Free Report) by 445.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,443 shares of the company's stock after purchasing an additional 83,660 shares during the period. American Century Companies Inc. owned approximately 0.12% of Progyny worth $2,289,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Voloridge Investment Management LLC boosted its holdings in Progyny by 85.5% in the 4th quarter. Voloridge Investment Management LLC now owns 1,197,993 shares of the company's stock valued at $20,665,000 after purchasing an additional 552,066 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Progyny by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,186,027 shares of the company's stock valued at $20,458,000 after purchasing an additional 74,740 shares during the period. Bank of America Corp DE grew its stake in Progyny by 3.7% during the fourth quarter. Bank of America Corp DE now owns 952,777 shares of the company's stock worth $16,435,000 after buying an additional 33,668 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Progyny by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 689,443 shares of the company's stock worth $15,402,000 after buying an additional 51,810 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in Progyny by 15.9% during the fourth quarter. Two Sigma Investments LP now owns 657,276 shares of the company's stock worth $11,338,000 after buying an additional 90,197 shares in the last quarter. Institutional investors own 94.93% of the company's stock.

Progyny Stock Performance

Shares of PGNY traded down $1.01 during mid-day trading on Friday, reaching $22.55. The company had a trading volume of 978,886 shares, compared to its average volume of 1,029,759. The company's 50 day simple moving average is $22.94 and its 200 day simple moving average is $22.24. Progyny, Inc. has a 1-year low of $13.39 and a 1-year high of $26.76. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 38.22, a P/E/G ratio of 1.93 and a beta of 1.33.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.23). Progyny had a net margin of 4.28% and a return on equity of 10.69%. The company had revenue of $332.87 million during the quarter, compared to analyst estimates of $315.70 million. During the same quarter in the previous year, the business posted $0.17 earnings per share. The company's revenue for the quarter was up 9.5% on a year-over-year basis. Progyny has set its Q3 2025 guidance at EPS. FY 2025 guidance at 1.700-1.780 EPS. As a group, equities analysts forecast that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Cheryl Scott sold 2,675 shares of Progyny stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $22.07, for a total transaction of $59,037.25. Following the sale, the director directly owned 14,112 shares in the company, valued at $311,451.84. This trade represents a 15.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin K. Gordon sold 2,500 shares of Progyny stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $22.04, for a total transaction of $55,100.00. Following the sale, the director owned 12,501 shares in the company, valued at approximately $275,522.04. This represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,570 shares of company stock worth $238,348 in the last ninety days. Company insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PGNY shares. Raymond James Financial set a $28.00 price objective on shares of Progyny in a research note on Friday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of Progyny from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. Cantor Fitzgerald reiterated an "overweight" rating and set a $28.00 price objective (up from $26.00) on shares of Progyny in a research note on Friday, August 8th. Truist Financial increased their price objective on shares of Progyny from $24.00 to $27.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of Progyny from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.30.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.