Natixis Advisors LLC Acquires Shares of 13,458 Progress Software Corporation (NASDAQ:PRGS)

Natixis Advisors LLC purchased a new position in Progress Software Corporation (NASDAQ:PRGS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,458 shares of the software maker's stock, valued at approximately $693,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock worth $33,000 after buying an additional 296 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Progress Software during the 4th quarter worth approximately $33,000. Nisa Investment Advisors LLC grew its stake in shares of Progress Software by 25.0% during 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 period. Dakota Wealth Management acquired a new stake in shares of Progress Software during the 1st quarter worth approximately $224,000. Finally, LPL Financial LLC acquired a new stake in shares of Progress Software during the 4th quarter worth approximately $248,000.

Progress Software Price Performance

Shares of NASDAQ:PRGS traded up $0.41 during midday trading on Friday, reaching $45.36. 76,785 shares of the company's stock traded hands, compared to its average volume of 784,801. Progress Software Corporation has a 1 year low of $42.88 and a 1 year high of $70.56. The company has a market cap of $1.96 billion, a P/E ratio of 34.62, a PEG ratio of 2.18 and a beta of 0.70. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43. The company has a fifty day simple moving average of $53.69 and a two-hundred day simple moving average of $56.39.

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 (EPS) for the quarter, beating 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 firm had revenue of $237.36 million for the quarter, compared to analyst estimates of $237.23 million. During the same quarter last year, the firm posted $1.09 EPS. The business's revenue was up 35.6% on a year-over-year basis. Equities analysts predict that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PRGS shares. Wedbush reaffirmed an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Progress Software in a research note on Friday, June 27th. Guggenheim reaffirmed a "buy" rating and set a $83.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Citigroup dropped their price objective on shares of Progress Software from $64.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Finally, DA Davidson raised their price objective on shares of Progress Software from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Progress Software presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.33.

Insider Activity

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total value of $292,871.13. Following the transaction, the chief financial officer owned 43,559 shares in the company, valued at approximately $2,307,320.23. This trade represents a 11.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David Krall acquired 5,125 shares of the firm's stock in a transaction on Wednesday, July 23rd. The stock was purchased at an average price of $48.90 per share, for a total transaction of $250,612.50. Following the acquisition, the director directly owned 100,090 shares in the company, valued at $4,894,401. This represents a 5.40% increase in their position. The disclosure for this purchase 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.