Progress Software Co. (NASDAQ:PRGS – Get Rating) has earned a consensus buy recommendation from the six analysts currently covering the company, Marketbeat.com reports. One of his analysts has a hold recommendation, three have a buy recommendation, and one has a strong buy recommendation. The average 1-year price target for analysts who updated their stock coverage last year is $52.75.
PRGS shares were recently reviewed by several equity analysts. Citigroup lowered his price target on Progress Software stock to $46.00 from his $52.00 in a research report on Thursday, Sept. 29. StockNews.com upgraded Progress Software’s stock from a “buy” rating to a “strong buy” rating in its research report on Thursday, November 3rd.
Insider Trading at Progress Software
In other news, CEO Yogesh K. Gupta sold 5,000 shares in the company in a transaction that took place on Friday, October 21st. The shares sold at an average price of $46.36 for a total of $231,800.00. After the transaction, the CEO now owns 60,000 shares in the company, valued at $2,781,600. The sale is disclosed in documents filed with the Securities and Exchange Commission, which can be accessed on his website at the SEC. In related news, CAO Domenic Lococo sold his 500 shares of Progress Software stock on Friday, October 28th. The shares sold for a total of $25,470.00 at an average price of $50.94. After the sale, the Chief Accounting Officer now owns 1,886 shares of the company’s stock, worth $96,072.84 to him. The transaction is disclosed in documents filed with the SEC and can be accessed via this hyperlink. CEO Yogesh K. Gupta also sold 5,000 shares of Progress Software in a deal on Friday, October 21st. The shares sold for an average of $46.36, and the transaction totaled him $231,800.00. Following the closing of the sale, the CEO now owns 60,000 of his shares valued at approximately $2,781,600. Please see here for the disclosure of this sale. In the past 90 days, the insider has sold 32,548 shares of his company stock worth $1,652,514. The insider owns his 3.20% of the company’s shares.
Institutional Trading of Progress Software
Several large investors have increased or decreased their equity stakes recently. The State of Kentucky’s Teachers Retirement System purchased new shares of Progress Software in the third quarter for $572,000. Integrated Investment Consultants LLC said in the third quarter he purchased new shares of Progress Software worth $207,000. Captrust Financial Advisors increased its stake in Progress Software by 23.1% in the third quarter. Captrust Financial Advisors now owns 17,574 shares of the software maker worth $748,000 after purchasing an additional 3,303 shares of him last quarter. Balyasny Asset Management LLC purchased his new $1,250,000 worth of Progress Software shares in the third quarter. Finally, Baird Financial Group Inc. purchased $217,000 worth of new shares in Progress Software in the third quarter.
Progress Software stock performance
PRGS opened at $52.06 on Monday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt to equity ratio of 1.67. The company has a 50-day moving average price of $51.38 and a 200-day moving average price of $48.17. His one-year low for Progress Software is $40.33 and his one-year high is $54.23. The company has a market capitalization of $2.24 billion, a price/earnings ratio of 26.70, a PEG ratio of 6.95 and a beta of 1.05.
About Progress Software
Progress Software Corporation develops, deploys and manages business applications. The company offers his OpenEdge, development software. It builds multilingual applications for secure deployment on various platforms and devices, and in the cloud. Developer tools consisting of components for user interface development for web, mobile, desktop, chat, and AR/VR apps, as well as automated application testing and reporting tools. Sitefinity, a web content management and customer analytics platform. Corticon is a business rules management system that provides applications with decision automation and change processes and decision-related insight capabilities.
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