Insider Selling: Progress Software SVP Sells 9,146 Shares of Stock (PRGS)
Progress Software (NASDAQ:PRGS) SVP Antonio J. Aquilina sold 9,146 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $21.74, for a total transaction of $198,834.04. Following the completion of the sale, the senior vice president now directly owns 25,532 shares in the company, valued at approximately $555,066. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Progress Software (NASDAQ:PRGS) traded up 0.97% during mid-day trading on Friday, hitting $21.90. 195,903 shares of the company’s stock traded hands. Progress Software has a 52-week low of $20.06 and a 52-week high of $26.95. The stock has a 50-day moving average of $22.58 and a 200-day moving average of $24.65. The company has a market cap of $1.125 billion and a P/E ratio of 21.33.
Progress Software (NASDAQ:PRGS) last announced its earnings results on Thursday, March 27th. The company reported $0.28 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.28. The company had revenue of $74.50 million for the quarter, compared to the consensus estimate of $74.75 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down 11.0% on a year-over-year basis. On average, analysts predict that Progress Software will post $1.39 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on PRGS shares. Analysts at TheStreet downgraded shares of Progress Software from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Separately, analysts at Jefferies Group cut their price target on shares of Progress Software from $25.00 to $23.00 in a research note on Friday, March 28th. Finally, analysts at Zacks upgraded shares of Progress Software from an “underperform” rating to a “neutral” rating in a research note on Wednesday, March 12th. They now have a $23.10 price target on the stock. Six analysts have rated the stock with a hold rating, Progress Software has an average rating of “Hold” and an average target price of $25.82.
Progress Software Corporation is a global software company. The Company’s portfolio of products provides solutions for enterprise integration, data interoperability and application development, including software-as-a-service (NASDAQ:PRGS) enablement and delivery in the Cloud.
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