Progress Software Corporation (NASDAQ:PRGS) Shares Sold by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC reduced its position in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 551,174 shares of the software maker's stock after selling 24,949 shares during the period. Segall Bryant & Hamill LLC owned about 1.28% of Progress Software worth $28,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. boosted its holdings in Progress Software by 149.5% in the fourth quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock valued at $33,000 after purchasing an additional 296 shares during the period. Orion Capital Management LLC purchased a new position in Progress Software in the fourth quarter valued at $33,000. Nisa Investment Advisors LLC boosted its holdings 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 period. Dakota Wealth Management purchased a new position in Progress Software in the first quarter valued at $224,000. Finally, LPL Financial LLC purchased a new position in Progress Software in the fourth quarter valued at $248,000.

Progress Software Stock Down 2.6%

NASDAQ PRGS traded down $1.25 during trading on Friday, reaching $47.47. 693,783 shares of the company's stock were exchanged, compared to its average volume of 636,942. The stock has a market cap of $2.05 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 2.31 and a beta of 0.68. 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 50 day moving average price of $59.52 and a two-hundred day moving average price of $58.35. Progress Software Corporation has a 1 year low of $47.42 and a 1 year high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last posted its earnings results on Monday, June 30th. The software maker reported $1.40 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 business had revenue of $237.36 million for the quarter, compared to analysts' expectations of $237.23 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The business's revenue was up 35.6% compared to the same quarter last year. On average, equities research analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Activity

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total transaction of $292,871.13. Following the completion of the sale, the chief financial officer directly owned 43,559 shares of the company's stock, valued at $2,307,320.23. This represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yufan Stephanie Wang sold 1,428 shares of the company'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 value of $83,209.56. The disclosure for this sale can be found here. Insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush reiterated an "outperform" rating and issued a $75.00 target price on shares of Progress Software in a report on Friday, June 27th. Citigroup decreased their price target on Progress Software from $64.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday. Guggenheim reaffirmed a "buy" rating and set a $83.00 price target on shares of Progress Software in a report on Friday, June 27th. DA Davidson lifted their price target on Progress Software from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen downgraded Progress Software from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Progress Software currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.33.

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.