Captrust Financial Advisors Sells 6,441 Shares of Progress Software Co. (NASDAQ:PRGS)

Captrust Financial Advisors lowered its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,094 shares of the software maker's stock after selling 6,441 shares during the period. Captrust Financial Advisors' holdings in Progress Software were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. raised its stake in shares of Progress Software by 149.5% in the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker's stock valued at $33,000 after acquiring an additional 296 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Progress Software by 893.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 765 shares of the software maker's stock valued at $50,000 after acquiring an additional 688 shares during the period. Blue Trust Inc. raised 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 acquiring an additional 394 shares during the period. KBC Group NV increased its stake in Progress Software by 44.5% during the 4th quarter. KBC Group NV now owns 2,335 shares of the software maker's stock worth $152,000 after buying an additional 719 shares during the period. Finally, Assetmark Inc. increased its stake in Progress Software by 6.6% during the 4th quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock worth $215,000 after buying an additional 204 shares during the period.

Progress Software Price Performance

NASDAQ PRGS traded up $0.50 on Friday, reaching $63.12. The company's stock had a trading volume of 359,858 shares, compared to its average volume of 563,522. Progress Software Co. has a twelve month low of $48.00 and a twelve month high of $70.56. 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 stock has a market cap of $2.72 billion, a PE ratio of 40.46, a PEG ratio of 2.82 and a beta of 0.67. The firm's 50 day moving average is $57.47 and its two-hundred day moving average is $60.84.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued 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. 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 during the quarter, compared to the consensus estimate of $235.64 million. During the same period in the prior year, the company earned $1.25 EPS. Progress Software's revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts predict that Progress Software Co. will post 4.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRGS. Guggenheim reissued a "buy" rating and set a $83.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. DA Davidson decreased 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. Wedbush reiterated an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Finally, StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $74.33.

Insider Buying and Selling at Progress Software

In other 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian Pitt sold 703 shares of the 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 of the company's stock, valued at $468,163.93. This trade 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.

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.