Virtu Financial LLC Acquires Shares of 24,142 Progress Software Co. (NASDAQ:PRGS)

Virtu Financial LLC bought a new position in shares of Progress Software Co. (NASDAQ:PRGS) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,142 shares of the software maker’s stock, valued at approximately $1,626,000. Virtu Financial LLC owned about 0.06% of Progress Software at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Hohimer Wealth Management LLC acquired a new position in Progress Software during the third quarter worth $225,000. Rehmann Capital Advisory Group raised its holdings in shares of Progress Software by 7.0% during the 3rd quarter. Rehmann Capital Advisory Group now owns 9,476 shares of the software maker’s stock worth $645,000 after acquiring an additional 619 shares during the period. TD Private Client Wealth LLC boosted its position in shares of Progress Software by 19.3% during the 3rd 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 during the last quarter. XTX Topco Ltd boosted its position in shares of Progress Software by 107.5% during the 3rd quarter. XTX Topco Ltd now owns 17,149 shares of the software maker’s stock valued at $1,155,000 after acquiring an additional 8,886 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Progress Software in the third quarter valued at about $406,000.

Insider Buying and Selling

In other Progress Software news, CFO Anthony Folger sold 7,797 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $67.39, for a total transaction of $525,439.83. Following the sale, the chief financial officer now owns 33,774 shares in the company, valued at $2,276,029.86. This represents a 18.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ian Pitt sold 1,747 shares of Progress Software stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $65.07, for a total value of $113,677.29. Following the completion of the transaction, the insider now owns 3,167 shares of the company’s stock, valued at $206,076.69. The trade was a 35.55 % decrease in their position. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Progress Software Trading Up 0.5 %

PRGS opened at $69.63 on Friday. Progress Software Co. has a 52 week low of $48.00 and a 52 week high of $70.56. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.87. The business has a fifty day simple moving average of $66.95 and a 200-day simple moving average of $59.55. The firm has a market cap of $2.99 billion, a P/E ratio of 37.24, a P/E/G ratio of 7.39 and a beta of 0.92.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, September 24th. The software maker reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.12. The company had revenue of $178.69 million during the quarter, compared to the consensus estimate of $176.16 million. Progress Software had a return on equity of 38.69% and a net margin of 11.55%. Progress Software’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. On average, equities analysts expect that Progress Software Co. will post 3.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRGS has been the topic of several recent analyst reports. StockNews.com upgraded shares of Progress Software from a “buy” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Guggenheim upped their price objective on Progress Software from $64.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. DA Davidson raised their target price on Progress Software from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Oppenheimer upped their price target on Progress Software from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Wedbush reissued an “outperform” rating and set a $68.00 price objective on shares of Progress Software in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $67.67.

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.