Campbell & CO Investment Adviser LLC Acquires 15,413 Shares of Progress Software Corporation $PRGS

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Progress Software Corporation by 128.4%, owning 27,415 shares worth approximately $1.41 million after acquiring an additional 15,413 shares in the first quarter.
• Corporate insider activity includes Director Rainer Gawlick acquiring 1,710 shares for about $74,350, raising his ownership by 3.18%.
• Progress Software reported $1.40 EPS for the most recent quarter, exceeding analysts' expectations, with projected earnings for FY 2025 between $5.280-5.400 EPS.

Campbell & CO Investment Adviser LLC boosted its position in Progress Software Corporation (NASDAQ:PRGS - Free Report) by 128.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,415 shares of the software maker's stock after buying an additional 15,413 shares during the quarter. Campbell & CO Investment Adviser LLC owned approximately 0.06% of Progress Software worth $1,412,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PRGS. Orion Capital Management LLC acquired a new position in Progress Software in the 4th quarter valued at $33,000. Nisa Investment Advisors LLC grew its position in Progress Software by 25.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker's stock worth $84,000 after purchasing an additional 326 shares during the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Progress Software in the 1st quarter worth $206,000. Dakota Wealth Management acquired a new stake in Progress Software in the 1st quarter worth $224,000. Finally, LPL Financial LLC acquired a new stake in shares of Progress Software during the 4th quarter valued at about $248,000.

Insiders Place Their Bets

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the completion of the transaction, the chief financial officer directly owned 43,559 shares of the company's stock, valued at approximately $2,307,320.23. The trade was a 11.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Krall bought 5,125 shares of the company's stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $48.90 per share, with a total value of $250,612.50. Following the completion of the purchase, the director owned 100,090 shares of the company's stock, valued at approximately $4,894,401. The trade was a 5.40% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRGS. Citigroup decreased their target price on shares of Progress Software from $64.00 to $57.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Jefferies Financial Group reiterated a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Wedbush reiterated an "outperform" rating and set a $75.00 target price on shares of Progress Software in a research report on Friday, June 27th. Guggenheim reiterated a "buy" rating and set a $83.00 target price on shares of Progress Software in a research report on Friday, June 27th. Finally, DA Davidson lifted their target price on shares of Progress Software from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.33.

Progress Software Price Performance

PRGS stock traded down $0.02 during trading on Friday, hitting $46.29. 424,428 shares of the stock traded hands, compared to its average volume of 783,619. Progress Software Corporation has a one year low of $42.88 and a one year high of $70.56. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.19 and a beta of 0.68. The company has a 50 day simple moving average of $49.81 and a 200 day simple moving average of $55.50. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The company had revenue of $237.36 million during the quarter, compared to the consensus estimate of $237.23 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The company's revenue was up 35.6% on a year-over-year basis. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. Equities analysts expect that Progress Software Corporation will post 4.01 EPS 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.