Captrust Financial Advisors Cuts Stake in Progress Software Co. (NASDAQ:PRGS)

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

A number of other institutional investors have also added to or reduced their stakes in PRGS. Assetmark Inc. boosted its position in Progress Software by 6.6% during the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker's stock valued at $215,000 after buying an additional 204 shares during the period. Summit Investment Advisors Inc. boosted its position in Progress Software by 5.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker's stock valued at $290,000 after acquiring an additional 239 shares in the last quarter. First Trust Advisors LP boosted its position in Progress Software by 0.3% during the 4th quarter. First Trust Advisors LP now owns 95,908 shares of the software maker's stock valued at $6,248,000 after acquiring an additional 281 shares in the last quarter. Bessemer Group Inc. boosted its position 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 worth $33,000 after purchasing an additional 296 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Progress Software by 5.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker's stock worth $405,000 after purchasing an additional 317 shares in the last quarter.

Progress Software Trading Up 0.3%

Shares of NASDAQ:PRGS traded up $0.21 during trading on Tuesday, reaching $63.10. 16,801 shares of the company were exchanged, compared to its average volume of 561,834. The firm has a market capitalization of $2.71 billion, a PE ratio of 40.39, a P/E/G ratio of 2.82 and a beta of 0.67. The business's fifty day simple moving average is $57.64 and its 200-day simple moving average is $60.81. Progress Software Co. has a 12-month low of $48.00 and a 12-month high of $70.56. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Progress Software (NASDAQ:PRGS - Get Free Report) last issued its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.27. The company had revenue of $238.02 million for 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%. Progress Software's revenue was up 28.9% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. On average, research analysts anticipate that Progress Software Co. will post 4.01 EPS for the current year.

Insider Buying and Selling at Progress Software

In other news, insider Ian Pitt sold 703 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $56.29, for a total value of $39,571.87. Following the transaction, the insider now directly owns 8,317 shares in the company, valued at approximately $468,163.93. This represents a 7.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Yufan Stephanie Wang sold 1,428 shares of the company'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 transaction of $83,209.56. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PRGS has been the topic of several analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a research report on Tuesday, April 1st. Guggenheim reaffirmed a "buy" rating and issued a $83.00 target price on shares of Progress Software in a report on Tuesday, April 1st. StockNews.com downgraded shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Finally, DA Davidson lowered 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently 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.