State of Wyoming Buys 5,679 Shares of Progress Software Co. (NASDAQ:PRGS)

State of Wyoming grew its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 615.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,602 shares of the software maker's stock after purchasing an additional 5,679 shares during the period. State of Wyoming's holdings in Progress Software were worth $430,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRGS. Bessemer Group Inc. boosted its stake 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 buying an additional 296 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Progress Software by 893.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock worth $50,000 after acquiring an additional 688 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker's stock valued at $141,000 after purchasing an additional 394 shares in the last quarter. KBC Group NV grew its holdings in shares of Progress Software by 44.5% during the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker's stock valued at $152,000 after purchasing an additional 719 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock valued at $215,000 after purchasing an additional 204 shares during the last quarter.

Progress Software Trading Down 0.3%

NASDAQ:PRGS traded down $0.21 during mid-day trading on Monday, hitting $61.07. 344,791 shares of the company's stock were exchanged, compared to its average volume of 568,429. The company has a 50 day simple moving average of $58.19 and a 200-day simple moving average of $60.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The firm has a market capitalization of $2.63 billion, a P/E ratio of 39.15, a PEG ratio of 2.82 and a beta of 0.67.

Progress Software (NASDAQ:PRGS - Get Free Report) last released its quarterly earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.27. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The firm had revenue of $238.02 million during the quarter, compared to the consensus estimate of $235.64 million. During the same quarter last year, the firm earned $1.25 earnings per share. The company's revenue for the quarter was up 28.9% on a year-over-year basis. As a group, research analysts expect that Progress Software Co. will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total transaction of $83,209.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Pitt sold 703 shares of the business's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $56.29, for a total transaction of $39,571.87. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 3.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on PRGS shares. DA Davidson dropped their price objective on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Guggenheim reiterated a "buy" rating and set a $83.00 price target on shares of Progress Software in a report on Tuesday, April 1st. Finally, Wedbush reissued an "outperform" rating and set a $75.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.33.

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.