Northern Trust Corp Decreases Position in Progyny, Inc. (NASDAQ:PGNY)

Northern Trust Corp decreased its stake in shares of Progyny, Inc. (NASDAQ:PGNY - Free Report) by 9.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 916,539 shares of the company's stock after selling 99,945 shares during the quarter. Northern Trust Corp owned about 1.08% of Progyny worth $15,810,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PGNY. Barclays PLC increased its holdings in shares of Progyny by 530.4% in the 3rd quarter. Barclays PLC now owns 706,157 shares of the company's stock worth $11,835,000 after purchasing an additional 594,140 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Progyny by 17.0% in the third quarter. Franklin Resources Inc. now owns 48,248 shares of the company's stock worth $759,000 after acquiring an additional 7,003 shares during the period. GAMMA Investing LLC grew its holdings in Progyny by 341.4% during the fourth quarter. GAMMA Investing LLC now owns 1,611 shares of the company's stock valued at $28,000 after purchasing an additional 1,246 shares during the period. Ballentine Partners LLC bought a new stake in Progyny during the fourth quarter valued at about $187,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Progyny during the fourth quarter valued at about $989,000. Hedge funds and other institutional investors own 94.93% of the company's stock.

Progyny Trading Up 1.6%

Shares of NASDAQ:PGNY traded up $0.35 during mid-day trading on Friday, reaching $22.30. The stock had a trading volume of 1,167,007 shares, compared to its average volume of 1,715,059. The company has a market cap of $1.91 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37. Progyny, Inc. has a 1 year low of $13.39 and a 1 year high of $30.42. The business's 50 day moving average price is $22.08 and its 200 day moving average price is $19.73.

Progyny (NASDAQ:PGNY - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.28). The firm had revenue of $324.04 million during the quarter, compared to analysts' expectations of $307.86 million. Progyny had a return on equity of 11.36% and a net margin of 5.03%. Progyny's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Analysts predict that Progyny, Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several recent research reports. Canaccord Genuity Group cut their price target on Progyny from $23.00 to $21.00 and set a "hold" rating for the company in a report on Monday, May 12th. BTIG Research upgraded Progyny from a "neutral" rating to a "buy" rating and set a $28.00 price objective on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. boosted their price objective on Progyny from $17.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, Bank of America boosted their price objective on Progyny from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Seven 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, the company currently has an average rating of "Hold" and an average target price of $23.45.

About Progyny

Progyny, Inc, a benefits management company, specializes in fertility and family building benefits solutions in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and selective network of fertility specialists.