Bessemer Group Inc. Has $33,000 Holdings in Progress Software Co. (NASDAQ:PRGS)

Bessemer Group Inc. grew its position in Progress Software Co. (NASDAQ:PRGS) by 149.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 494 shares of the software maker’s stock after buying an additional 296 shares during the quarter. Bessemer Group Inc.’s holdings in Progress Software were worth $33,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC purchased a new position in Progress Software during the 3rd quarter worth approximately $1,626,000. Principal Financial Group Inc. raised its position in Progress Software by 4.4% during the third 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 period. GAMMA Investing LLC lifted its stake in Progress Software by 55.4% in the 4th quarter. GAMMA Investing LLC now owns 1,736 shares of the software maker’s stock worth $113,000 after acquiring an additional 619 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Progress Software by 6.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock worth $560,000 after acquiring an additional 523 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Progress Software by 4.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 30,820 shares of the software maker’s stock valued at $2,008,000 after acquiring an additional 1,261 shares in the last quarter.

Progress Software Price Performance

Shares of NASDAQ:PRGS opened at $56.00 on Friday. The stock has a market capitalization of $2.41 billion, a P/E ratio of 35.90, a P/E/G ratio of 2.82 and a beta of 0.85. The business has a 50-day moving average of $55.80 and a two-hundred day moving average of $61.61. Progress Software Co. has a fifty-two week low of $48.00 and a fifty-two week high of $70.56. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.81 and a quick ratio of 0.81.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.27. The firm had revenue of $238.02 million during the quarter, compared to analysts’ expectations of $235.64 million. Progress Software had a return on equity of 41.56% and a net margin of 9.08%. The company’s revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, equities research analysts predict that Progress Software Co. will post 4.01 EPS for the current fiscal year.

Analyst Ratings Changes

PRGS has been the subject of a number of research analyst reports. StockNews.com lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 23rd. Jefferies Financial Group lifted their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Citigroup upped their target price on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Finally, Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Progress Software in a report on Tuesday, April 1st. 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 stock has a consensus rating of “Moderate Buy” and an average target price of $74.33.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the sale, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ian Pitt sold 1,482 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.60, for a total transaction of $83,881.20. Following the transaction, the insider now directly owns 7,613 shares of the company’s stock, valued at $430,895.80. This represents a 16.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,185 shares of company stock worth $1,024,193. Company insiders own 3.60% of the company’s stock.

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.