Anthony Folger Sells 5,474 Shares of Progress Software (NASDAQ:PRGS) Stock

Progress Software Corporation (NASDAQ:PRGS) CFO Anthony Folger sold 5,474 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $46.47, for a total value of $254,376.78. Following the sale, the chief financial officer owned 42,559 shares in the company, valued at approximately $1,977,716.73. The trade was a 11.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Anthony Folger also recently made the following trade(s):

• On Tuesday, July 8th, Anthony Folger sold 5,529 shares of Progress Software stock. The stock was sold at an average price of $52.97, for a total value of $292,871.13.

Progress Software Stock Down 0.3%

Shares of NASDAQ:PRGS opened at $46.17 on Friday. The business’s 50 day simple moving average is $44.51 and its two-hundred day simple moving average is $53.33. The firm has a market cap of $1.98 billion, a P/E ratio of 41.97, a PEG ratio of 2.11 and a beta of 0.67. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.43 and a current ratio of 0.44. Progress Software Corporation has a 52-week low of $40.29 and a 52-week high of $70.56.

Institutional Trading of Progress Software

Large investors have recently bought and sold shares of the company. Maseco LLP purchased a new stake in Progress Software in the second quarter worth $28,000. Quaker Wealth Management LLC increased its position in Progress Software by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after buying an additional 900 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Progress Software in the second quarter worth $41,000. Advisors Asset Management Inc. increased its position in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 shares during the last quarter. Finally, Osaic Holdings Inc. increased its position in Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after buying an additional 637 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group cut their price target on Progress Software from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, September 30th. Guggenheim reiterated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Friday, June 27th. Citigroup cut their price target on Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. DA Davidson reiterated a “buy” rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $75.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.00.

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.