DA Davidson Lifts Earnings Estimates for Progress Software

Progress Software Corporation (NASDAQ:PRGS) – DA Davidson lifted their FY2025 EPS estimates for Progress Software in a research report issued on Tuesday, September 30th. DA Davidson analyst L. Schreiner now anticipates that the software maker will earn $4.41 per share for the year, up from their previous estimate of $4.24. DA Davidson has a “Buy” rating and a $75.00 price target on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share. DA Davidson also issued estimates for Progress Software’s Q4 2025 earnings at $1.04 EPS.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Monday, June 30th. The software maker reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.10. The firm had revenue of $237.36 million during the quarter, compared to analyst estimates of $237.23 million. Progress Software had a net margin of 5.16% and a return on equity of 43.68%. The company’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the business earned $1.09 earnings per share.

Other equities analysts have also issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Tuesday. Citigroup cut their target price on shares of Progress Software from $64.00 to $57.00 and set a “neutral” rating for the company in a research report on Tuesday, July 15th. Wedbush reiterated an “outperform” rating and set a $75.00 target price on shares of Progress Software in a research report on Friday, June 27th. Guggenheim reiterated a “buy” rating and set a $83.00 target price on shares of Progress Software in a research report on Friday, June 27th. Finally, Wall Street Zen lowered shares of Progress Software from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Progress Software Price Performance

Shares of NASDAQ:PRGS opened at $45.22 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.44 and a debt-to-equity ratio of 2.22. The firm has a market capitalization of $1.94 billion, a PE ratio of 41.11, a P/E/G ratio of 2.05 and a beta of 0.67. Progress Software has a twelve month low of $40.29 and a twelve month high of $70.56. The company has a 50-day moving average price of $44.67 and a two-hundred day moving average price of $53.47.

Institutional Investors Weigh In On Progress Software

Institutional investors and hedge funds have recently bought and sold shares of the stock. Maseco LLP purchased a new stake in Progress Software in the second quarter valued at approximately $28,000. Quaker Wealth Management LLC raised its stake in Progress Software by 200.0% in 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. Elevation Point Wealth Partners LLC purchased a new stake in Progress Software in the second quarter valued at approximately $41,000. Advisors Asset Management Inc. raised its stake in 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 purchasing an additional 604 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Progress Software by 183.0% in the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after purchasing an additional 637 shares in the last quarter.

Insider Activity

In other news, Director Rainer Gawlick acquired 1,710 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $43.48 per share, for a total transaction of $74,350.80. Following the completion of the transaction, the director owned 55,544 shares of the company’s stock, valued at $2,415,053.12. The trade was a 3.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David Krall acquired 5,125 shares of the business’s stock in a transaction dated Wednesday, July 23rd. The stock was purchased at an average price of $48.90 per share, with a total value of $250,612.50. Following the completion of the transaction, the director directly owned 100,090 shares of the company’s stock, valued at $4,894,401. This trade represents a 5.40% increase in their position. The disclosure for this purchase can be found here. 3.40% of the stock is owned by company insiders.

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.