GHP Investment Advisors Inc. Has $7.44 Million Holdings in Progress Software Corporation $PRGS

GHP Investment Advisors Inc. increased its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 8.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,501 shares of the software maker’s stock after buying an additional 9,512 shares during the period. GHP Investment Advisors Inc. owned 0.27% of Progress Software worth $7,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its position in Progress Software by 2.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 491,484 shares of the software maker’s stock worth $25,166,000 after buying an additional 12,614 shares during the period. Rehmann Capital Advisory Group raised its stake in shares of Progress Software by 54.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 11,670 shares of the software maker’s stock valued at $601,000 after buying an additional 4,093 shares in the last quarter. Nisa Investment Advisors LLC boosted its position 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 valued at $84,000 after acquiring an additional 326 shares in the last quarter. Alps Advisors Inc. raised its position in Progress Software by 7.8% in the first quarter. Alps Advisors Inc. now owns 103,919 shares of the software maker’s stock worth $5,353,000 after purchasing an additional 7,503 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Progress Software by 3.6% in the 1st quarter. Edgestream Partners L.P. now owns 110,627 shares of the software maker’s stock valued at $5,698,000 after buying an additional 3,808 shares in the last quarter.

Insider Activity at Progress Software

In other Progress Software news, Director Rainer Gawlick bought 1,710 shares of the firm’s stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $43.48 per share, for a total transaction of $74,350.80. Following the completion of the transaction, the director directly owned 55,544 shares in the company, valued at approximately $2,415,053.12. The trade was a 3.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Yufan Stephanie Wang sold 1,428 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $46.26, for a total value of $66,059.28. Following the completion of the transaction, the insider owned 668 shares of the company’s stock, valued at $30,901.68. This represents a 68.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 7,311 shares of company stock valued at $339,332 over the last ninety days. 3.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Jefferies Financial Group cut their price objective on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, September 30th. Citigroup upgraded shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Monday, October 13th. DA Davidson reissued a “buy” rating and set a $75.00 price objective on shares of Progress Software in a research note on Tuesday, September 30th. Finally, Wall Street Zen upgraded Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Progress Software Trading Up 1.9%

Shares of NASDAQ:PRGS opened at $42.64 on Friday. The business’s 50 day simple moving average is $44.33 and its 200 day simple moving average is $51.86. Progress Software Corporation has a 1 year low of $40.29 and a 1 year high of $70.56. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $1.83 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.95 and a beta of 0.67.

Progress Software Company 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.