Swedbank AB Sells 1,978 Shares of Progress Software Co. (NASDAQ:PRGS)

Swedbank AB lessened its stake in shares of Progress Software Co. (NASDAQ:PRGS) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 439,626 shares of the software maker’s stock after selling 1,978 shares during the quarter. Swedbank AB owned approximately 1.02% of Progress Software worth $28,642,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Assetmark Inc. grew its stake in Progress Software by 10.2% during the 3rd quarter. Assetmark Inc. now owns 3,097 shares of the software maker’s stock worth $209,000 after buying an additional 286 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Progress Software by 19.3% during the third quarter. TD Private Client Wealth LLC now owns 1,863 shares of the software maker’s stock valued at $126,000 after acquiring an additional 301 shares in the last quarter. Blue Trust Inc. boosted its stake in Progress Software by 23.2% in the 4th quarter. Blue Trust Inc. now owns 2,091 shares of the software maker’s stock worth $141,000 after purchasing an additional 394 shares in the last quarter. GAMMA Investing LLC increased its stake in Progress Software by 76.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the software maker’s stock valued at $75,000 after purchasing an additional 485 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of Progress Software by 6.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 8,594 shares of the software maker’s stock worth $560,000 after buying an additional 523 shares during the period.

Progress Software Trading Up 1.2 %

PRGS opened at $57.00 on Friday. The company has a quick ratio of 1.23, a current ratio of 0.81 and a debt-to-equity ratio of 3.48. The firm has a market cap of $2.47 billion, a P/E ratio of 36.54, a P/E/G ratio of 6.24 and a beta of 0.93. The business has a fifty day simple moving average of $64.81 and a 200-day simple moving average of $62.38. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56.

Analysts Set New Price Targets

PRGS has been the topic of a number of research reports. Oppenheimer increased their target price on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Citigroup upped their target price on shares of Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. DA Davidson reissued a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research note on Tuesday, January 21st. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group raised their target price on shares of Progress Software from $65.00 to $70.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average price target of $72.43.

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.