Progress Software Co. (NASDAQ:PRGS) Stock Holdings Lessened by TD Asset Management Inc.

TD Asset Management Inc. trimmed its stake in Progress Software Co. (NASDAQ:PRGS) by 24.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,000 shares of the software maker’s stock after selling 38,100 shares during the quarter. TD Asset Management Inc.’s holdings in Progress Software were worth $5,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of Progress Software by 240.4% in the second quarter. Royal Bank of Canada now owns 156,433 shares of the software maker’s stock worth $7,236,000 after purchasing an additional 110,471 shares in the last quarter. Jefferies Group LLC purchased a new stake in shares of Progress Software in the second quarter worth approximately $74,464,000. State Street Corp lifted its position in shares of Progress Software by 1.3% in the second quarter. State Street Corp now owns 1,486,929 shares of the software maker’s stock worth $68,770,000 after purchasing an additional 19,354 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Progress Software by 7.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,680 shares of the software maker’s stock worth $540,000 after purchasing an additional 790 shares in the last quarter. Finally, Parisi Gray Wealth Management purchased a new stake in shares of Progress Software in the second quarter worth approximately $161,000. 98.91% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Gary Quinn sold 15,216 shares of Progress Software stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $52.05, for a total value of $791,992.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

A number of analysts have recently issued reports on PRGS shares. Citigroup increased their price target on shares of Progress Software from $48.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, September 24th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Progress Software from a “buy” rating to a “hold” rating in a research report on Thursday, November 25th. JPMorgan Chase & Co. assumed coverage on shares of Progress Software in a research report on Friday, October 22nd. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Oppenheimer raised their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $56.33.

Shares of PRGS opened at $45.92 on Friday. Progress Software Co. has a twelve month low of $39.91 and a twelve month high of $53.99. The firm has a market cap of $2.01 billion, a PE ratio of 25.37, a PEG ratio of 7.48 and a beta of 1.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.87 and a current ratio of 1.87. The firm’s 50 day moving average price is $48.91 and its 200 day moving average price is $47.80.

Progress Software Profile

Progress Software Corp. engages in the provision of a platform, which develops and deploys mission-critical business applications. It operates through the following segments: OpenEdge, Data Connectivity and Integration and Application Development and Deployment. The OpenEdge segment provides product enhancements and marketing supports for the partners to sell more of its existing solutions to their customers.

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Institutional Ownership by Quarter for Progress Software (NASDAQ:PRGS)

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