Integrated Investment Consultants LLC Has $406,000 Position in Progress Software Corporation (NASDAQ:PRGS)

Integrated Investment Consultants LLC increased its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 26.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 7,885 shares of the software maker’s stock after acquiring an additional 1,641 shares during the period. Integrated Investment Consultants LLC’s holdings in Progress Software were worth $406,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. boosted its position in shares of Progress Software by 1.8% during the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock valued at $546,000 after acquiring an additional 187 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Progress Software by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,855,525 shares of the software maker’s stock valued at $381,487,000 after acquiring an additional 45,246 shares in the last quarter. Sei Investments Co. lifted its holdings in Progress Software by 22.7% during the 4th quarter. Sei Investments Co. now owns 65,952 shares of the software maker’s stock valued at $4,297,000 after purchasing an additional 12,191 shares during the last quarter. Raymond James Financial Inc. bought a new position in Progress Software during the 4th quarter valued at about $15,432,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Progress Software by 25.0% during the 1st 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 during the last quarter.

Progress Software Trading Up 1.7%

Shares of NASDAQ PRGS opened at $50.81 on Friday. Progress Software Corporation has a 1-year low of $47.42 and a 1-year high of $70.56. The company has a market cap of $2.19 billion, a PE ratio of 38.79, a P/E/G ratio of 2.40 and a beta of 0.68. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43. The company has a 50-day moving average of $58.22 and a two-hundred day moving average of $57.78.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The company had revenue of $237.36 million during the quarter, compared to the consensus estimate of $237.23 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The company’s revenue was up 35.6% on a year-over-year basis. As a group, equities analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PRGS shares. DA Davidson lifted their price target on shares of Progress Software from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Guggenheim reissued a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Friday, June 27th. Citigroup cut their price target on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Wedbush reissued an “outperform” rating and set a $75.00 price target on shares of Progress Software in a report on Friday, June 27th. Finally, Wall Street Zen downgraded shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Progress Software presently has an average rating of “Moderate Buy” and an average price target of $73.33.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total value of $292,871.13. Following the completion of the transaction, the chief financial officer directly owned 43,559 shares of the company’s stock, valued at approximately $2,307,320.23. The trade was a 11.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Krall bought 5,125 shares of the company’s stock in a transaction on Wednesday, July 23rd. The stock was bought at an average cost of $48.90 per share, with a total value of $250,612.50. Following the completion of the purchase, the director owned 100,090 shares of the company’s stock, valued at approximately $4,894,401. The trade was a 5.40% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.40% of the company’s stock.

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.