KLP Kapitalforvaltning AS Has $5.58 Million Holdings in Progress Software Corporation $PRGS

KLP Kapitalforvaltning AS boosted its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 28.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,100 shares of the software maker’s stock after buying an additional 28,000 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.30% of Progress Software worth $5,584,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PRGS. DLD Asset Management LP raised its stake in shares of Progress Software by 31.5% in the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp lifted its stake 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 buying an additional 153,957 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Progress Software by 26.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after buying an additional 243,950 shares during the period. Geode Capital Management LLC grew its stake in Progress Software by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,067,462 shares of the software maker’s stock valued at $68,155,000 after buying an additional 5,187 shares during the last quarter. Finally, Swedbank AB raised its holdings in Progress Software by 3.0% in the 3rd quarter. Swedbank AB now owns 744,226 shares of the software maker’s stock worth $32,694,000 after acquiring an additional 21,500 shares during the period.

Progress Software Trading Up 0.6%

Shares of PRGS stock opened at $42.35 on Friday. 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 has a fifty day moving average of $42.47 and a 200-day moving average of $45.39. Progress Software Corporation has a 52-week low of $39.00 and a 52-week high of $65.50. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 1.85 and a beta of 0.61.

Wall Street Analysts Forecast Growth

PRGS has been the topic of several research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $75.00 price target on shares of Progress Software in a research report on Tuesday, September 30th. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Citigroup upgraded shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday, October 13th. Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group decreased their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

About Progress Software

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.