Campbell & CO Investment Adviser LLC Purchases 42,769 Shares of Progress Software Corporation $PRGS

Campbell & CO Investment Adviser LLC raised its position in Progress Software Corporation (NASDAQ:PRGS) by 421.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 52,919 shares of the software maker’s stock after acquiring an additional 42,769 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Progress Software were worth $2,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PRGS. Maseco LLP purchased a new stake in shares of Progress Software during the 2nd quarter valued at $28,000. Quaker Wealth Management LLC boosted its position in shares of Progress Software by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after purchasing an additional 900 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Progress Software during the 2nd quarter worth $41,000. Advisors Asset Management Inc. increased its position in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after buying an additional 637 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PRGS. DA Davidson lowered their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Citigroup dropped their target price on shares of Progress Software from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday. Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.40.

Progress Software Price Performance

Shares of PRGS opened at $40.05 on Friday. The business’s 50-day moving average is $42.40 and its two-hundred day moving average is $44.62. The company has a market capitalization of $1.72 billion, a P/E ratio of 36.41, a P/E/G ratio of 1.80 and a beta of 0.61. Progress Software Corporation has a fifty-two week low of $38.91 and a fifty-two week high of $65.50. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.44 and a current ratio of 0.44.

Progress Software Company Profile

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.