Versor Investments LP Makes New Investment in Progress Software Corporation $PRGS

Versor Investments LP purchased a new position in shares of Progress Software Corporation (NASDAQ:PRGS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,700 shares of the software maker’s stock, valued at approximately $619,000.

Other large investors also recently made changes to their positions in the company. Maseco LLP purchased a new position in shares of Progress Software during the 2nd quarter worth $28,000. Quaker Wealth Management LLC lifted its stake in shares of Progress Software by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after purchasing an additional 900 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares during the period. GAMMA Investing LLC increased its holdings in shares of Progress Software by 59.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,463 shares of the software maker’s stock worth $93,000 after buying an additional 546 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Progress Software by 25.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,629 shares of the software maker’s stock worth $84,000 after buying an additional 326 shares during the last quarter.

Progress Software Stock Up 0.1%

Shares of NASDAQ PRGS opened at $42.68 on Tuesday. Progress Software Corporation has a 12-month low of $40.29 and a 12-month high of $70.56. The company has a market cap of $1.83 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.95 and a beta of 0.67. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 2.22. The stock has a fifty day moving average price of $44.27 and a 200 day moving average price of $51.74.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Wall Street Zen upgraded Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Citigroup upgraded Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Monday, October 13th. Jefferies Financial Group dropped their price objective on Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Finally, DA Davidson reiterated a “buy” rating and issued a $75.00 price target on shares of Progress Software in a report on Tuesday, September 30th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.00.

Insider Activity at Progress Software

In other news, insider Yufan Stephanie Wang sold 1,428 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $46.26, for a total transaction of $66,059.28. Following the completion of the sale, the insider directly owned 668 shares in the company, valued at $30,901.68. This trade represents a 68.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Anthony Folger sold 5,474 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $46.47, for a total value of $254,376.78. Following the sale, the chief financial officer owned 42,559 shares of the company’s stock, valued at $1,977,716.73. This represents a 11.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 7,311 shares of company stock worth $339,332. Corporate 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.