Progress Software Corporation (NASDAQ:PRGS) Shares Purchased by Seizert Capital Partners LLC

Seizert Capital Partners LLC raised its stake in shares of Progress Software Corporation (NASDAQ:PRGS - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 617,524 shares of the software maker's stock after purchasing an additional 38,352 shares during the quarter. Seizert Capital Partners LLC owned 1.44% of Progress Software worth $31,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Bessemer Group Inc. lifted its holdings in shares of 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 acquiring an additional 296 shares during the last quarter. Orion Capital Management LLC purchased a new stake in Progress Software during the 4th quarter valued at about $33,000. Nisa Investment Advisors LLC grew its position in Progress Software by 25.0% during the 1st 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 last quarter. Dakota Wealth Management purchased a new stake in Progress Software during the 1st quarter valued at about $224,000. Finally, LPL Financial LLC purchased a new stake in Progress Software during the 4th quarter valued at about $248,000.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group reissued a "hold" rating on shares of Progress Software in a research report on Friday, June 27th. Citigroup lowered 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. Wall Street Zen cut shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 5th. DA Davidson increased 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. Finally, Guggenheim reiterated a "buy" rating and issued a $83.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Progress Software has a consensus rating of "Moderate Buy" and an average target price of $73.33.

Insider Activity at Progress Software

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of Progress Software stock in a transaction that occurred 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 directly 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 can be accessed through this hyperlink. Also, Director David Krall purchased 5,125 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was acquired at an average price of $48.90 per share, for a total transaction of $250,612.50. Following the completion of the purchase, the director owned 100,090 shares of the company's stock, valued at approximately $4,894,401. This represents a 5.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company's stock.

Progress Software Trading Down 4.2%

NASDAQ:PRGS traded down $2.04 during trading hours on Friday, hitting $46.04. The company had a trading volume of 1,120,793 shares, compared to its average volume of 774,817. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43. The company has a 50-day moving average of $57.16 and a 200 day moving average of $57.44. The company has a market cap of $1.98 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.32 and a beta of 0.68. Progress Software Corporation has a 1 year low of $45.93 and a 1 year high of $70.56.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its earnings results on Monday, June 30th. The software maker reported $1.40 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 company had revenue of $237.36 million during the quarter, compared to analysts' expectations of $237.23 million. During the same period last year, the business posted $1.09 EPS. Progress Software's revenue for the quarter was up 35.6% on a year-over-year basis. Sell-side analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current year.

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.