Progress Software Corporation (NASDAQ:PRGS) Receives Average Rating of “Moderate Buy” from Analysts

Progress Software Corporation (NASDAQ:PRGS) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $73.3333.

PRGS has been the subject of several recent analyst reports. Wedbush reiterated an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research note on Friday, June 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Progress Software in a research note on Friday, June 27th. DA Davidson boosted their price objective on shares of Progress Software from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, July 1st. Finally, Wall Street Zen lowered shares of Progress Software from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 5th.

Progress Software Price Performance

Shares of PRGS opened at $46.06 on Tuesday. The company has a 50 day moving average price of $51.16 and a 200-day moving average price of $55.82. Progress Software has a fifty-two week low of $42.88 and a fifty-two week high of $70.56. The stock has a market capitalization of $1.99 billion, a PE ratio of 35.16, a PEG ratio of 2.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.43 and a current ratio of 0.43.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.10. Progress Software had a net margin of 6.63% and a return on equity of 43.72%. The firm had revenue of $237.36 million during the quarter, compared to analysts’ expectations of $237.23 million. During the same quarter in the prior year, the company earned $1.09 EPS. The company’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. Equities analysts predict that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Progress Software news, Director David Krall acquired 5,125 shares of the company’s stock in a transaction dated Wednesday, July 23rd. The shares were acquired at an average cost of $48.90 per share, with a total value of $250,612.50. Following the acquisition, the director directly owned 100,090 shares of the company’s stock, valued at approximately $4,894,401. The trade was a 5.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Anthony Folger sold 5,529 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $52.97, for a total transaction of $292,871.13. Following the sale, the chief financial officer directly owned 43,559 shares in the company, valued at $2,307,320.23. This trade represents a 11.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by insiders.

Institutional Trading of Progress Software

A number of hedge funds have recently added to or reduced their stakes in the company. Maseco LLP purchased a new position in Progress Software during the second quarter valued at $28,000. Quaker Wealth Management LLC lifted its holdings in Progress Software by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock valued at $29,000 after purchasing an additional 900 shares in the last quarter. Orion Capital Management LLC purchased a new position in Progress Software during the fourth quarter valued at $33,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Progress Software in the second quarter valued at about $41,000. Finally, Advisors Asset Management Inc. raised its position in shares of Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares during the last quarter.

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.