Universal Beteiligungs und Servicegesellschaft mbH Acquires New Shares in Progress Software Co. (NASDAQ:PRGS)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Progress Software Co. (NASDAQ:PRGS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 122,270 shares of the software maker's stock, valued at approximately $7,966,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.28% of Progress Software at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PRGS. Mackenzie Financial Corp grew its holdings in Progress Software by 22.2% in the fourth quarter. Mackenzie Financial Corp now owns 36,562 shares of the software maker's stock valued at $2,382,000 after purchasing an additional 6,640 shares during the period. Orion Capital Management LLC purchased a new stake in shares of Progress Software during the 4th quarter valued at $33,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Progress Software by 17.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,639 shares of the software maker's stock valued at $9,293,000 after buying an additional 21,289 shares during the period. Woodline Partners LP increased its holdings in shares of Progress Software by 9.9% during the 4th quarter. Woodline Partners LP now owns 109,072 shares of the software maker's stock worth $7,106,000 after buying an additional 9,789 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Progress Software in the 4th quarter worth $606,000.

Progress Software Stock Up 0.4%

Shares of PRGS traded up $0.26 during mid-day trading on Wednesday, reaching $63.29. 70,618 shares of the stock traded hands, compared to its average volume of 564,116. The stock has a fifty day simple moving average of $59.18 and a 200 day simple moving average of $60.45. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 40.57, a P/E/G 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 for the quarter, beating analysts' consensus estimates of $1.04 by $0.27. The business had revenue of $238.02 million during the quarter, compared to analyst estimates of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. The business's revenue was up 28.9% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. Sell-side analysts expect that Progress Software Co. will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 sale, the insider now owns 8,317 shares of the company's stock, 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. 3.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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