Boston Trust Walden Corp Increases Stock Position in Progress Software Corporation $PRGS

Boston Trust Walden Corp raised its holdings in Progress Software Corporation (NASDAQ:PRGS) by 1.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,796,719 shares of the software maker’s stock after purchasing an additional 32,874 shares during the quarter. Progress Software comprises 0.8% of Boston Trust Walden Corp’s investment portfolio, making the stock its 29th biggest holding. Boston Trust Walden Corp’s holdings in Progress Software were worth $114,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of PRGS. Maseco LLP purchased a new stake in shares of Progress Software in the second quarter valued at about $28,000. Advisors Asset Management Inc. lifted its holdings in shares of Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Progress Software by 25.0% in the first quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker’s stock valued at $84,000 after purchasing an additional 326 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Progress Software by 59.5% in the second quarter. GAMMA Investing LLC now owns 1,463 shares of the software maker’s stock valued at $93,000 after purchasing an additional 546 shares in the last quarter. Finally, Parisi Gray Wealth Management purchased a new position in shares of Progress Software during the second quarter valued at approximately $204,000.

Progress Software Stock Performance

NASDAQ:PRGS opened at $46.87 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.22. The company has a market cap of $2.01 billion, a P/E ratio of 42.61, a P/E/G ratio of 2.04 and a beta of 0.67. Progress Software Corporation has a fifty-two week low of $40.29 and a fifty-two week high of $70.56. The firm’s 50 day moving average is $44.30 and its two-hundred day moving average is $53.00.

Insider Activity at Progress Software

In related news, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $46.26, for a total value of $66,059.28. Following the completion of the sale, the insider directly owned 668 shares in the company, valued at approximately $30,901.68. This represents a 68.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Krall acquired 5,125 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $48.90 per share, for a total transaction of $250,612.50. Following the completion of the transaction, the director directly owned 100,090 shares of the company’s stock, valued at $4,894,401. This trade represents a 5.40% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 7,311 shares of company stock worth $339,332. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PRGS shares. Citigroup raised shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday. Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Wedbush reissued an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Progress Software in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Progress Software has an average rating of “Moderate Buy” and an average target price of $70.00.

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.