122,270 Shares in Progress Software Co. (NASDAQ:PRGS) Purchased by Universal Beteiligungs und Servicegesellschaft mbH

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

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in 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 acquiring an additional 394 shares in the last quarter. KBC Group NV boosted its stake in shares of Progress Software by 44.5% in 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. EMC Capital Management grew its stake in Progress Software by 43.8% during the fourth quarter. EMC Capital Management now owns 3,822 shares of the software maker's stock worth $249,000 after purchasing an additional 1,164 shares during the period. Meritage Portfolio Management increased its position in Progress Software by 7.3% in the 4th quarter. Meritage Portfolio Management now owns 14,843 shares of the software maker's stock valued at $967,000 after buying an additional 1,008 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its position in Progress Software by 4.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 104,572 shares of the software maker's stock valued at $6,813,000 after acquiring an additional 4,192 shares in the last quarter.

Insiders Place Their Bets

In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction that occurred on Thursday, April 24th. The shares were 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 SEC, which is available through this link. Also, insider Ian Pitt sold 703 shares of Progress Software 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 directly owns 8,317 shares in the company, valued at $468,163.93. The trade was 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 insiders.

Progress Software Price Performance

Progress Software stock traded up $0.03 during mid-day trading on Wednesday, reaching $63.06. 288,624 shares of the company's stock traded hands, compared to its average volume of 565,324. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 40.42, a PEG ratio of 2.82 and a beta of 0.67. The stock has a 50 day moving average of $59.41 and a two-hundred day moving average of $60.47. 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.

Progress Software (NASDAQ:PRGS - Get Free Report) last announced its quarterly earnings data 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 company 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 firm's revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Equities analysts forecast that Progress Software Co. will post 4.01 earnings per share for the current year.

Analyst Ratings Changes

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