Progress Software Corporation (NASDAQ:PRGS) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp trimmed its holdings in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,763,845 shares of the software maker's stock after selling 17,570 shares during the quarter. Boston Trust Walden Corp owned 4.10% of Progress Software worth $90,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Mountain Pacific Investment Advisers LLC acquired a new stake in shares of Progress Software during the 1st quarter worth about $7,037,000. QRG Capital Management Inc. grew its position in Progress Software by 1.8% in the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker's stock valued at $546,000 after acquiring an additional 187 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Progress Software by 5.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 32,499 shares of the software maker's stock valued at $1,674,000 after acquiring an additional 1,679 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Progress Software by 19.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 10,286 shares of the software maker's stock valued at $530,000 after acquiring an additional 1,692 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Progress Software by 1.8% in the 1st quarter. Rhumbline Advisers now owns 121,063 shares of the software maker's stock valued at $6,236,000 after acquiring an additional 2,193 shares in the last quarter.

Progress Software Stock Performance

Shares of NASDAQ:PRGS traded down $0.44 during trading on Friday, reaching $62.57. The company had a trading volume of 851,834 shares, compared to its average volume of 563,842. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 48.50, a price-to-earnings-growth ratio of 3.01 and a beta of 0.67. The company has a debt-to-equity ratio of 3.47, a current ratio of 0.79 and a quick ratio of 0.79. The stock's fifty day moving average price is $61.08 and its 200 day moving average price is $60.08. Progress Software Corporation has a fifty-two week low of $48.00 and a fifty-two week high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.27. Progress Software had a return on equity of 42.64% and a net margin of 7.03%. The business had revenue of $238.02 million for the quarter, compared to analyst estimates of $235.64 million. During the same quarter in the previous year, the company posted $1.25 earnings per share. The company's revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, equities research analysts predict that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Buying and Selling

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total transaction of $83,209.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ian Pitt sold 703 shares of the business's stock in a transaction on Friday, April 4th. The stock was 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. The trade was a 7.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRGS. Guggenheim reaffirmed a "buy" rating and issued a $83.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. Wedbush reaffirmed an "outperform" rating and issued a $75.00 target price on shares of Progress Software in a research report on Tuesday, April 1st. Finally, DA Davidson decreased their price objective on Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.33.

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.