Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Progress Software Corp. shares valued at $113,677 were sold by Pitt Ian on Oct 23 ’24. At $65.07 per share, Pitt Ian sold 1,747 shares. The insider’s holdings dropped to 3,167 shares worth approximately $0.2 million following the completion of this transaction.
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Also, IAN PITT purchased 1,747 shares, netting a total of over 114,271 in proceeds.
Before that, FOLGER ANTHONY had sold 7,797 shares from its account. In a trade valued at $525,421, the Chief Financial Officer traded Progress Software Corp. shares for $67.39 each. Upon closing the transaction, the insider’s holdings decreased to 7,797 shares, worth approximately $2.18 million.
As published in their initiating research note from DA Davidson on March 28, 2024, Progress Software Corp. [PRGS] has been a Buy and the price target has been revised to $65. As of September 09, 2022, Jefferies has initiated its “Hold” rating for PRGS. Earlier on August 12, 2022, Guggenheim initiated its rating. Their recommendation was “a Buy” for PRGS stock.
Analyzing PRGS Stock Performance
During the last five days, there has been a drop of approximately -0.29%. Over the course of the year, Progress Software Corp. shares have jumped approximately 19.12%. Shares of the company reached a 52-week high of $67.89 on 10/16/24 and a 52-week low of $48.00 on 06/26/24. A 50-day SMA is recorded $61.80, while a 200-day SMA reached $55.61. Nevertheless, trading volume fell to 0.55 million shares from 0.29 million shares the previous day.
Support And Resistance Levels for Progress Software Corp. (PRGS)
According to the 24-hour chart, there is a support level at 64.34, which, if violated, would cause prices to drop to 64.00. In the upper region, resistance lies at 65.18. The next price resistance is at 65.67. RSI (Relative Strength Index) is 52.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.73, which suggests the price will decrease in the coming days. Percent R is at 89.93%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
