VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Stake in Progress Software Corporation $PRGS

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Progress Software Corporation (NASDAQ:PRGS) by 397.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,400 shares of the software maker’s stock after purchasing an additional 17,900 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Progress Software were worth $984,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. DLD Asset Management LP increased its position in Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after buying an additional 10,300,000 shares in the last quarter. Swedbank AB grew its stake in shares of Progress Software by 65.8% during the 1st quarter. Swedbank AB now owns 728,748 shares of the software maker’s stock valued at $37,538,000 after acquiring an additional 289,122 shares during the period. Goldman Sachs Group Inc. increased its holdings in Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after acquiring an additional 241,515 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in Progress Software by 148.1% during the third quarter. Rice Hall James & Associates LLC now owns 338,941 shares of the software maker’s stock valued at $14,890,000 after purchasing an additional 202,305 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Progress Software by 8.6% in the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares during the period.

Progress Software Stock Performance

Shares of NASDAQ PRGS opened at $41.07 on Friday. The company has a market cap of $1.76 billion, a P/E ratio of 37.34, a P/E/G ratio of 1.81 and a beta of 0.61. Progress Software Corporation has a 52-week low of $39.00 and a 52-week high of $65.60. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.44 and a current ratio of 0.44. The firm’s fifty day moving average is $42.65 and its two-hundred day moving average is $46.01.

Analysts Set New Price Targets

PRGS has been the topic of several recent analyst reports. DA Davidson restated a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research report on Tuesday, September 30th. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Citigroup raised Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Monday, October 13th. Wall Street Zen raised Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Jefferies Financial Group cut their target price on Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday, September 30th. Four equities 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Progress Software Profile

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.