Cetera Investment Advisers Decreases Stake in Progress Software Corporation $PRGS

Cetera Investment Advisers lowered its holdings in Progress Software Corporation (NASDAQ:PRGS) by 10.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,276 shares of the software maker’s stock after selling 520 shares during the quarter. Cetera Investment Advisers’ holdings in Progress Software were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. QRG Capital Management Inc. boosted its holdings in shares of Progress Software by 1.8% during the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock valued at $546,000 after acquiring an additional 187 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings 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 during the last quarter. Rhumbline Advisers boosted its holdings in shares of Progress Software by 1.8% during the 1st quarter. Rhumbline Advisers now owns 121,063 shares of the software maker’s stock valued at $6,236,000 after acquiring an additional 2,193 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of Progress Software by 19.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 10,286 shares of the software maker’s stock valued at $530,000 after acquiring an additional 1,692 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Progress Software by 2,620.9% during the 1st quarter. GAMMA Investing LLC now owns 47,235 shares of the software maker’s stock valued at $2,433,000 after acquiring an additional 45,499 shares during the last quarter.

Progress Software Price Performance

NASDAQ PRGS opened at $44.71 on Friday. Progress Software Corporation has a 12 month low of $42.88 and a 12 month high of $70.56. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 2.11 and a beta of 0.70. The company’s 50 day moving average is $51.82 and its two-hundred day moving average is $55.99. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 2.43.

Progress Software (NASDAQ:PRGS) last released its earnings results on Monday, June 30th. The software maker reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The company had revenue of $237.36 million for the quarter, compared to analysts’ expectations of $237.23 million. During the same quarter last year, the business earned $1.09 EPS. The firm’s revenue was up 35.6% compared to the same quarter last year. Progress Software has set its FY 2025 guidance at 5.280-5.400 EPS. Q3 2025 guidance at 1.280-1.340 EPS. As a group, research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insiders Place Their Bets

In other Progress Software news, CFO Anthony Folger sold 5,529 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $52.97, for a total transaction of $292,871.13. Following the sale, the chief financial officer owned 43,559 shares in the company, valued at approximately $2,307,320.23. This trade represents a 11.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 purchase, the director owned 55,544 shares in the company, valued at $2,415,053.12. This trade represents a 3.18% increase in their position. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Progress Software in a report on Friday, June 27th. Wedbush reaffirmed an “outperform” rating and set a $75.00 price target on shares of Progress Software in a report on Friday, June 27th. DA Davidson raised their price target on shares of Progress Software from $70.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, July 1st. Finally, Guggenheim reaffirmed a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Friday, June 27th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and a consensus target price of $73.33.

About Progress Software

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.