Progress Software Co. (NASDAQ:PRGS) Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC raised its position in Progress Software Co. (NASDAQ:PRGS - Free Report) by 114.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,904 shares of the software maker's stock after buying an additional 10,093 shares during the period. Gotham Asset Management LLC's holdings in Progress Software were worth $1,232,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PRGS. Bessemer Group Inc. boosted its position in 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 buying an additional 296 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock valued at $50,000 after buying an additional 688 shares during the last quarter. Blue Trust Inc. boosted its position in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock valued at $141,000 after buying an additional 394 shares during the last quarter. KBC Group NV boosted its position in Progress Software by 44.5% in the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker's stock valued at $152,000 after buying an additional 719 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Progress Software by 6.6% in the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock valued at $215,000 after buying an additional 204 shares during the last quarter.

Insider Buying and Selling

In other Progress Software news, insider Ian Pitt sold 703 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total value of $39,571.87. Following the sale, the insider now owns 8,317 shares in the company, valued at approximately $468,163.93. This trade represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yufan Stephanie Wang sold 1,428 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total transaction of $83,209.56. The disclosure for this sale can be found here. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

PRGS has been the topic of several research analyst reports. Wedbush reaffirmed an "outperform" rating and set a $75.00 price target on shares of Progress Software in a research report on Tuesday, April 1st. DA Davidson reduced their price target on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wall Street Zen cut shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Finally, Guggenheim reaffirmed a "buy" rating and set a $83.00 price target on shares of Progress Software in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $74.33.

Progress Software Stock Performance

PRGS traded down $0.21 on Friday, hitting $61.07. 344,791 shares of the company's stock were exchanged, compared to its average volume of 567,123. The firm has a market cap of $2.63 billion, a PE ratio of 39.15, a P/E/G ratio of 2.82 and a beta of 0.67. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. The stock has a fifty day moving average of $58.19 and a two-hundred day moving average of $60.79. 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 released its quarterly earnings data 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. The firm had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. Progress Software's quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, research analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

About Progress Software

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.