Progress Software (Nasdaq: PRGS – Get a free report) Had its price objective reduced by stock analysts at Jefferies Financial Group from $ 60.00 to $ 50.00 in a research report issued on Tuesday, MarketBeat.com reports. The company currently has a ‘hold’ rating in the stock of the software maker. The price target of Jefferies Financial Group indicates a potential benefit of 10.57% compared to the current share price.
Other research analysts of shares have also recently published research reports on the company. Wall Street Zen has reduced progress software from a ‘buy’ rating to a ‘hold’ rating in a research memorandum on Saturday 13 September. Citigroup lowered their target price on shares of Progress software from $ 64.00 to $ 57.00 and stated a “neutral” rating on the shares in a report on Tuesday 15 July. Guggenheim repeated a ‘buy’ rating and gave a price target of $ 83.00 on shares of Progress software in a research memorandum on Friday 27 June. In a research memorandum on Friday 27 June, Wedbush adjusted an “Outperform” assessment and set a price objective of $ 75.00 on shares of Progress Software. Finally, Da Davidson raised their target price on shares of Progress software from $ 70.00 to $ 75.00 and gave the company a “buy” rating in a report on Tuesday 1 July. Four analysts have rated the shares with a buy -rating and two have given a hold -rating to stock. According to Marketbeat data, progressing software currently has an average assessment of “moderate purchase” and a consensus price objective of $ 70.00.
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Progress software trades 2.9%
Progress software stock is open on Tuesday for $ 45.22. The company has a market capitalization of $ 1.94 billion, a price-gain ratio of 41.11, a p/e/g ratio of 2.05 and a beta of 0.67. The company has a progressive average of 50 days of $ 44.67 and a progressive average of 200 days of $ 53.47. The company has a debt / equity ratio of 2.22, a current ratio of 0.44 and a rapid ratio of 0.43. Progress Software has a low one year of $ 40.29 and a highest point in a year of $ 70.56.
Progress Software (Nasdaq: PRGS – Get Free Report) was last released its win results on Monday 30 June. The software maker reported $ 1.40 profit per share (EPS) for the quarter, so that the consensus estimate of $ 1.30 by $ 0.10 was at the top. Progress software had an efficiency on equity of 43.68% and a net margin of 5.16%. The company had a turnover of $ 237.36 million for the quarter, compared to analysts of $ 237.23 million. During the same quarter in the previous year, the company made $ 1.09 profit per share. Progress software turnover increased by 35.6%on an annual basis. On average, stock analysts expect that progressing software for the current financial year will make 4.01 profit per share.
Insider Activity at Progress Software
In other progress software -news, director Rainer Gawlick acquired 1,710 shares of the shares of the company in a transaction on Tuesday 12 August. The share was purchased at an average price of $ 43.48 per share, with a total value of $ 74.350.80. After the takeover, the director directly had 55,544 shares of the shares of the company, with a value of approximately $ 2,415,053.12. This trade represents an increase of 3.18% in their position. The transaction was announced in a legal application at the Securities & Exchange Commission, which is accessible via this hyperlink. Director David Krall also bought 5,125 shares of the share in a transaction of Wednesday 23 July. The shares were taken over at an average cost of $ 48.90 per share, for a total transaction of $ 250,612.50. After completing the acquisition, the director directly had 100,090 shares of the shares of the company, with a value of approximately $ 4,894,401. This trade represents an increase of 5.40% in their position. The disclosure for this purchase can be found here. 3.40% of the shares are currently owned by insiders of companies.
Institutional investors are giving up progress software
Large investors recently added or reduced their interests in the shares. Squarepoint OPS LLC bought a new position in implementation worth $ 606,000 in the 4th quarter. Gamma Investing LLC grew its participations in Progress Software shares with 2,620.9% during the 1st quarter. Gamma Investing LLC now has 47,235 shares of the shares of the software maker worth $ 2,433,000 after the purchase of an additional 45,499 shares in the last quarter. Rhumable advisers increased its position in Progress software shares by 1.8% in the first quarter. Rhumable Advisers now owns 121,063 shares of the shares of the software maker worth $ 6,236,000 after the purchase of an extra 2,193 shares during the period. Harbor Capital Advisors Inc. Increased its importance in Progress software by 19.7% in the first quarter. Harbor Capital Advisors Inc. Now owns 10,286 shares of the shares of the software maker worth $ 530,000 after the purchase of an additional 1,692 shares in the last quarter. Finally, Exchange Trade Concepts LLC has canceled its position in Progress Software by 5.4% during the first quarter. Exchange Trade Concepts LLC now has 32,499 shares of the shares of the software maker worth $ 1,674,000 after the purchase of an additional 1,679 shares during the period.
Progress Software Company Profile
(Get a free report)
Progress Software Corporation develops, implements and manages business applications in the United States and internationally. The company offers Openeded, a platform for application development for performing business-critical applications; Chef, a DevOps/DevseCops Automation software; Developer tools consisting of software development tool collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and reporting management tools and automated test and spot tools; Kemp Loadmaster, an application delivery and security product that offers Cloud-Native and Virtual and Hardware-Load Balancers; And Sitefinity, a digital experience platform foundation that delivers intelligent and ROI drive tools for marketers.
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