Progress Software Co. (NASDAQ:PRGS) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Progress Software Co. (NASDAQ:PRGS - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,639 shares of the software maker's stock after buying an additional 21,289 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.33% of Progress Software worth $9,293,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Progress Software by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker's stock worth $381,487,000 after purchasing an additional 45,246 shares during the period. Geode Capital Management LLC raised its position in Progress Software by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,013,411 shares of the software maker's stock worth $66,039,000 after buying an additional 4,927 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Progress Software by 0.7% in the 4th quarter. Invesco Ltd. now owns 802,523 shares of the software maker's stock valued at $52,284,000 after purchasing an additional 5,474 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Progress Software by 11.6% in the 4th quarter. Deutsche Bank AG now owns 789,109 shares of the software maker's stock valued at $51,410,000 after purchasing an additional 82,156 shares in the last quarter. Finally, Systematic Financial Management LP increased its holdings in shares of Progress Software by 1.8% in the 4th quarter. Systematic Financial Management LP now owns 554,133 shares of the software maker's stock valued at $36,102,000 after purchasing an additional 9,716 shares in the last quarter.

Progress Software Price Performance

NASDAQ:PRGS traded up $0.25 during mid-day trading on Monday, hitting $61.81. 296,993 shares of the company's stock traded hands, compared to its average volume of 565,649. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.81 and a current ratio of 0.81. The firm's 50 day simple moving average is $58.84 and its 200 day simple moving average is $60.46. Progress Software Co. has a 1 year low of $48.00 and a 1 year high of $70.56. The company has a market cap of $2.66 billion, a PE ratio of 39.62, a price-to-earnings-growth 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, topping 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 company had revenue of $238.02 million for the quarter, compared to analysts' expectations of $235.64 million. During the same period last year, the company earned $1.25 EPS. The firm's revenue for the quarter was up 28.9% compared to the same quarter last year. Sell-side analysts expect that Progress Software Co. will post 4.01 EPS for the current year.

Insiders Place Their Bets

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of the firm's stock in a transaction dated 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 SEC, which can be accessed through this link. Also, insider Ian Pitt sold 703 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $56.29, for a total transaction of $39,571.87. Following the completion of the sale, the insider now directly owns 8,317 shares in the company, valued at $468,163.93. This represents 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 owned by corporate insiders.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of research analyst reports. DA Davidson cut their price target on shares of Progress Software from $75.00 to $70.00 and set a "buy" rating for the company in a report on Monday, April 14th. Guggenheim restated a "buy" rating and set a $83.00 target price on shares of Progress Software in a report on Tuesday, April 1st. Finally, Wedbush restated an "outperform" rating and set a $75.00 target price on shares of Progress Software in a report on Tuesday, April 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.33.

Progress Software Company 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.