BNP Paribas Financial Markets Has $9.57 Million Holdings in Progress Software Co. (NASDAQ:PRGS)

BNP Paribas Financial Markets lessened its stake in shares of Progress Software Co. (NASDAQ:PRGS) by 50.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 146,956 shares of the software maker’s stock after selling 149,046 shares during the quarter. BNP Paribas Financial Markets owned about 0.34% of Progress Software worth $9,574,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of Progress Software by 45,918.9% during the 4th quarter. Pacer Advisors Inc. now owns 1,143,110 shares of the software maker’s stock worth $74,474,000 after acquiring an additional 1,140,626 shares in the last quarter. Vanguard Group Inc. grew its holdings in Progress Software by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker’s stock valued at $381,487,000 after buying an additional 45,246 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Progress Software by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,045,240 shares of the software maker’s stock valued at $70,418,000 after buying an additional 43,936 shares during the last quarter. Sei Investments Co. grew its holdings in Progress Software by 22.7% in the 4th quarter. Sei Investments Co. now owns 65,952 shares of the software maker’s stock valued at $4,297,000 after buying an additional 12,191 shares during the last quarter. Finally, Amundi grew its holdings in Progress Software by 110.5% in the 4th quarter. Amundi now owns 25,117 shares of the software maker’s stock valued at $1,594,000 after buying an additional 13,187 shares during the last quarter.

Progress Software Price Performance

Shares of PRGS stock opened at $60.90 on Monday. The stock has a 50 day moving average of $56.83 and a two-hundred day moving average of $60.90. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48. Progress Software Co. has a 12 month low of $48.00 and a 12 month high of $70.56. The company has a market capitalization of $2.62 billion, a P/E ratio of 39.04, a P/E/G ratio of 2.82 and a beta of 0.67.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Monday, March 31st. The software maker reported $1.31 EPS for the quarter, topping 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 41.56% and a net margin of 9.08%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company earned $1.25 EPS. As a group, equities analysts expect that Progress Software Co. will post 4.01 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Progress Software in a report on Tuesday, April 1st. Citigroup raised their target price on Progress Software from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Tuesday, April 1st. DA Davidson lowered their target price on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, StockNews.com downgraded Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.33.

Insider Buying and Selling

In related news, insider Ian Pitt sold 703 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $56.29, for a total transaction of $39,571.87. Following the completion of the transaction, the insider now owns 8,317 shares in the company, valued at $468,163.93. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yufan Stephanie Wang sold 1,428 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $58.27, for a total value of $83,209.56. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate 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.