Exchange Traded Concepts LLC increased its position in shares of Progress Software Corporation (NASDAQ:PRGS – Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,499 shares of the software maker’s stock after buying an additional 1,679 shares during the quarter. Exchange Traded Concepts LLC owned about 0.08% of Progress Software worth $1,674,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised 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. Summit Investment Advisors Inc. raised its stake 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 worth $290,000 after buying an additional 239 shares during the period. First Trust Advisors LP raised its stake 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 worth $6,248,000 after buying an additional 281 shares during the period. Bessemer Group Inc. raised its stake in Progress Software by 149.5% during the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock worth $33,000 after buying an additional 296 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in Progress Software by 5.4% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,211 shares of the software maker’s stock worth $405,000 after buying an additional 317 shares during the period.
Insider Activity at Progress Software
In other Progress Software news, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total transaction of $83,209.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian Pitt sold 703 shares of the 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 transaction, the insider now directly owns 8,317 shares of the company’s stock, valued at approximately $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. 3.60% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Read Our Latest Report on PRGS
Progress Software Stock Performance
Shares of PRGS opened at $63.47 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 3.47. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 49.20, a PEG ratio of 3.02 and a beta of 0.67. The stock has a 50 day moving average of $60.75 and a 200 day moving average of $60.14. Progress Software Corporation 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 results on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, compared to the consensus estimate of $235.64 million. Progress Software had a return on equity of 42.64% and a net margin of 7.03%. Progress Software’s revenue was up 28.9% on a year-over-year basis. During the same period last year, the business posted $1.25 earnings per share. As a group, sell-side analysts forecast that Progress Software Corporation will post 4.01 earnings per share for the current year.
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.
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