Progyny, Inc. $PGNY Shares Bought by Segall Bryant & Hamill LLC

Key Points

• Segall Bryant & Hamill increased its Progyny position by 68.4% in the first quarter, bringing its holdings to 82,198 shares valued at approximately $1.4 million. Institutional investors collectively own 94.93% of the company.
• Analysts remain broadly positive, with Progyny carrying a consensus “Moderate Buy” rating and an average price target of $33.25. Recent target increases include Bank of America at $31 and BTIG Research at $40.
• Progyny reported quarterly EPS of $0.50, well above the $0.26 consensus estimate, on revenue of $328.5 million, though revenue declined 26.4% year over year. The company also authorized a $200 million share repurchase plan, covering up to 10.3% of outstanding shares.

Segall Bryant & Hamill LLC lifted its position in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 68.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 82,198 shares of the company's stock after acquiring an additional 33,380 shares during the period. Segall Bryant & Hamill LLC owned 0.10% of Progyny worth $1,396,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in Progyny in the 4th quarter valued at about $25,000. Hantz Financial Services Inc. grew its position in Progyny by 79.4% in the 4th quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company's stock worth $43,000 after purchasing an additional 742 shares during the last quarter. Quarry LP grew its position in Progyny by 2,004.1% in the 3rd quarter. Quarry LP now owns 3,598 shares of the company's stock worth $77,000 after purchasing an additional 3,427 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Progyny in the second quarter valued at approximately $77,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Progyny in the fourth quarter valued at approximately $94,000. Institutional investors and hedge funds own 94.93% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reiterated an "outperform" rating on shares of Progyny in a research report on Monday, May 11th. Bank of America raised their target price on Progyny from $29.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. BTIG Research lifted their target price on Progyny from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Wall Street Zen lowered Progyny from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised Progyny from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Progyny currently has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Progyny Stock Down 0.2%

NASDAQ:PGNY opened at $31.48 on Wednesday. The business's 50-day moving average price is $28.82 and its 200 day moving average price is $23.31. The firm has a market cap of $2.47 billion, a P/E ratio of 40.88, a PEG ratio of 2.50 and a beta of 1.01. Progyny, Inc. has a 52-week low of $16.10 and a 52-week high of $33.06.

Progyny (NASDAQ:PGNY - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.26 by $0.24. Progyny had a net margin of 5.23% and a return on equity of 13.34%. The firm had revenue of $328.50 million for the quarter, compared to analysts' expectations of $326.46 million. During the same period in the previous year, the business earned $0.17 earnings per share. Progyny's revenue for the quarter was down 26.4% compared to the same quarter last year. Progyny has set its FY 2026 guidance at 1.980-2.09 EPS and its Q2 2026 guidance at 0.500-0.53 EPS. Sell-side analysts expect that Progyny, Inc. will post 1.19 EPS for the current year.

Progyny announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Mark S. Livingston sold 8,275 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $25.50, for a total transaction of $211,012.50. Following the completion of the sale, the chief financial officer directly owned 79,063 shares in the company, valued at approximately $2,016,106.50. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Cheryl Scott sold 7,439 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $26.39, for a total transaction of $196,315.21. Following the sale, the director owned 19,772 shares of the company's stock, valued at $521,783.08. The trade was a 27.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 36,916 shares of company stock worth $939,875. 9.90% of the stock is owned by insiders.

About Progyny

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company's digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny's offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.

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