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

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

Insider Buying and Selling

In other Progress Software news, Director Rainer Gawlick acquired 1,710 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average cost of $43.48 per share, with a total value of $74,350.80. Following the acquisition, the director directly owned 55,544 shares of the company's stock, valued at approximately $2,415,053.12. The trade was a 3.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Krall acquired 5,125 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was acquired at an average price of $48.90 per share, for a total transaction of $250,612.50. Following the purchase, the director directly owned 100,090 shares of the company's stock, valued at approximately $4,894,401. This trade represents a 5.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.60% of the company's stock.

Progress Software Trading Down 1.4%

NASDAQ:PRGS opened at $46.06 on Tuesday. The company has a market capitalization of $1.99 billion, a P/E ratio of 35.16, a PEG ratio of 2.21 and a beta of 0.70. 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 Corporation has a 12 month low of $42.88 and a 12 month high of $70.56. The firm has a fifty day simple moving average of $51.16 and a 200-day simple moving average of $55.82.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. Progress Software had a return on equity of 43.72% and a net margin of 6.63%.The company had revenue of $237.36 million during the quarter, compared to analyst estimates of $237.23 million. During the same quarter last year, the business posted $1.09 EPS. The firm's quarterly 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. On average, equities research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Guggenheim reaffirmed a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a research report on Friday, June 27th. Citigroup cut their price target on shares of Progress Software from $64.00 to $57.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Wedbush reaffirmed an "outperform" rating and set a $75.00 price target on shares of Progress Software in a research report on Friday, June 27th. Jefferies Financial Group reissued a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Finally, DA Davidson upped their target price on Progress Software from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.33.

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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