Progress Software Co. (NASDAQ:PRGS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its holdings in Progress Software Co. (NASDAQ:PRGS - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,303,682 shares of the software maker's stock after selling 45,923 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.01% of Progress Software worth $84,935,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Trust Advisors LP increased its stake in Progress Software by 0.3% in the fourth quarter. First Trust Advisors LP now owns 95,908 shares of the software maker's stock worth $6,248,000 after purchasing an additional 281 shares during the period. GeoWealth Management LLC grew its holdings in shares of Progress Software by 637.6% in the fourth quarter. GeoWealth Management LLC now owns 3,880 shares of the software maker's stock worth $253,000 after purchasing an additional 3,354 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Progress Software by 820.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 4,600 shares of the software maker's stock worth $300,000 after buying an additional 4,100 shares during the period. EAM Global Investors LLC bought a new stake in Progress Software during the 4th quarter valued at about $4,241,000. Finally, Defined Financial Planning LLC purchased a new stake in Progress Software in the 4th quarter valued at about $339,000.

Progress Software Stock Up 0.2 %

PRGS stock traded up $0.11 during trading on Monday, reaching $61.25. 21,831 shares of the company traded hands, compared to its average volume of 557,582. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 39.28, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. 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 business has a 50 day simple moving average of $56.20 and a 200 day simple moving average of $61.05. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56.

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, topping 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 firm had revenue of $238.02 million for the quarter, compared to the consensus estimate of $235.64 million. The company's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, equities research analysts anticipate that Progress Software Co. will post 4.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PRGS has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. DA Davidson decreased their target price on 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 reissued a "buy" rating and set a $83.00 price target on shares of Progress Software in a research report on Tuesday, April 1st. Wedbush restated an "outperform" rating and issued a $75.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Finally, StockNews.com cut shares of Progress Software from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.33.

Insider Buying and Selling

In other news, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total transaction of $83,209.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ian Pitt sold 703 shares of the company's stock in a transaction 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 completion of the transaction, the insider now directly owns 8,317 shares in the company, valued at approximately $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 company insiders.

About Progress Software

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.