Public Sector Pension Investment Board Buys 104,026 Shares of Progyny, Inc. $PGNY

Public Sector Pension Investment Board raised its stake in shares of Progyny, Inc. (NASDAQ:PGNY) by 40.9% during the third quarter, Holdings Channel reports. The firm owned 358,234 shares of the company’s stock after buying an additional 104,026 shares during the quarter. Public Sector Pension Investment Board’s holdings in Progyny were worth $7,709,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in Progyny by 57.1% in the third quarter. Principal Financial Group Inc. now owns 704,267 shares of the company’s stock worth $15,156,000 after purchasing an additional 256,078 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Progyny by 0.6% in the 2nd quarter. Nordea Investment Management AB now owns 183,362 shares of the company’s stock worth $4,052,000 after buying an additional 1,140 shares during the period. Cresset Asset Management LLC increased its stake in shares of Progyny by 715.3% in the 2nd quarter. Cresset Asset Management LLC now owns 85,053 shares of the company’s stock worth $1,871,000 after acquiring an additional 74,621 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Progyny by 88.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 56,196 shares of the company’s stock worth $1,236,000 after acquiring an additional 26,310 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Progyny during the second quarter worth about $327,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PGNY has been the subject of several recent research reports. Citigroup upgraded shares of Progyny to an “outperform” rating in a report on Tuesday, January 20th. KeyCorp lifted their price objective on Progyny from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Zacks Research downgraded Progyny from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. BTIG Research restated a “buy” rating on shares of Progyny in a research note on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Progyny from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.80.

Progyny Stock Performance

NASDAQ PGNY opened at $20.35 on Wednesday. Progyny, Inc. has a one year low of $17.98 and a one year high of $28.75. The stock has a 50-day moving average of $24.78 and a 200 day moving average of $23.23. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 1.31 and a beta of 0.96.

Progyny Company Profile

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.