139,915 Shares in Progress Software Corporation $PRGS Acquired by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. purchased a new position in shares of Progress Software Corporation (NASDAQ:PRGS) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 139,915 shares of the software maker’s stock, valued at approximately $6,011,000.

Other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Progress Software by 0.8% during the second quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock worth $2,531,000 after acquiring an additional 333 shares in the last quarter. Amalgamated Bank boosted its holdings in Progress Software by 3.4% in the third quarter. Amalgamated Bank now owns 12,671 shares of the software maker’s stock worth $557,000 after acquiring an additional 422 shares in the last quarter. Advisory Research Inc. boosted its holdings in Progress Software by 3.8% in the third quarter. Advisory Research Inc. now owns 15,209 shares of the software maker’s stock worth $668,000 after acquiring an additional 562 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Progress Software by 1.3% in the third quarter. CANADA LIFE ASSURANCE Co now owns 48,215 shares of the software maker’s stock worth $2,055,000 after acquiring an additional 601 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares in the last quarter.

Progress Software Stock Performance

Shares of Progress Software stock opened at $27.81 on Friday. The company has a market cap of $1.17 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $65.50. The business has a 50 day moving average price of $29.91 and a 200-day moving average price of $37.57. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.97.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Monday, March 30th. The software maker reported $1.60 EPS for the quarter, topping the consensus estimate of $1.57 by $0.03. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $246.40 million. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 earnings per share. Equities analysts anticipate that Progress Software Corporation will post 4.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PRGS. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Citigroup cut their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. DA Davidson cut their price target on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Jefferies Financial Group cut their price target on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Finally, Wedbush lowered their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Insider Activity at Progress Software

In related news, EVP Sundar Subramanian sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00. Following the completion of the sale, the executive vice president directly owned 15,542 shares of the company’s stock, valued at approximately $594,947.76. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.