Which insiders are trading Progress Software Corporation (PRGS)?

Progress Software Corporation (NASDAQ:PRGS) is now up 86.13% compared to a 12-month low of $27.16. We have seen the price to move 15.75% higher and get settled at $50.55 on 01/11/2018. At recent session, it appeared stuck in a range of $46.5001 to $51.63. This company shares are -17.57% up from its target price of $41.67 and the current market capitalization stands at $2.39B. The recent change has given its price a 19.97% lead over SMA 50 and 13.95% lead over its 52-week high. The stock witnessed 22.1% gains, 22.96% gains and 60.53% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found PRGS’s volatility during a week at 3.49% and during a month it has been found around 2.06%.

Progress Software Corporation (PRGS) Top Holders

Institutional investors currently hold around $1.96 billion or 96.3% in PRGS stock. Look at its top three institutional owners. Blackrock Inc. owns $267.54 million in Progress Software Corporation, which represents roughly 11.19% of the company’s market cap and approximately 13.62% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 4,409,314 shares of the stock are valued at $192.56 million. The third largest holder is Praesidium Investment Management Company, Llc, which currently holds $186.07 million worth of this stock and that ownership represents nearly 7.79% of its market capitalization.

Progress Software Corporation 13F Filings

At the end of 09/30/2017 reporting period, 110 institutional holders increased their position in Progress Software Corporation (NASDAQ:PRGS) by some 6,239,893 shares, 106 decreased positions by 5,572,148 and 27 held positions by 33,168,490. That puts total institutional holdings at 44,980,531 shares, according to SEC filings. The stock grabbed 34 new institutional investments totaling 2,252,558 shares while 26 institutional investors sold out their entire positions totaling 1,067,854 shares.

Progress Software Corporation (NASDAQ:PRGS) Insider Trades

Multiple company employees have indulged in significant insider trading. Progress Software Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that 10% Owner Praesidium Investment Manageme has sold 100,000 shares of Progress Software Corporation (PRGS) in trading session dated Feb. 03, 2017. These shares are worth $2,794,000 and were traded at $27.94 each. The SEC filing shows that Praesidium Investment Manageme performed a sale of 850,000 shares. The 10% Owner disposed these shares by way of transaction on Jan. 04, 2017. The company’s shares were given away at $30.81 per share worth to an income of some $26,188,500 on account of Praesidium Investment Manageme.

10% Owner, Praesidium Investment Manageme, sold 900,000 common shares of Progress Software Corporation (PRGS) in the open market. In a transaction dated Sep. 12, 2016, the shares were put up for sale at an average price of $28.11, raking in a sum of $25,299,000. After this sale, 5,807,017 common shares of PRGS are directly owned by the insider, with total stake valued at $293,544,709.

In the transaction dated Jul. 11, 2016, the great number of shares disposed came courtesy the Chief Accounting Officer; Jalbert Paul A disposed a total of 21,041 shares at an average price of $28.93, amounting to approximately $608,716. The insider now directly owns 4,365 shares worth $220,651.

Progress Software Corporation (PRGS) Analyst Guide

Several analysts have released their opinion on Progress Software Corporation (NASDAQ:PRGS), with 1 analysts believing it is a strong buy. Whereas 2 of them predict the stock is a hold. Also, there are 0 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.33 average brokerage recommendation.

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