Edgestream Partners L.P. Has $5.52 Million Stock Holdings in Progress Software Corporation $PRGS

Edgestream Partners L.P. decreased its holdings in Progress Software Corporation (NASDAQ:PRGS) by 21.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 86,426 shares of the software maker’s stock after selling 24,201 shares during the period. Edgestream Partners L.P. owned approximately 0.20% of Progress Software worth $5,517,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Avantax Advisory Services Inc. raised its stake in Progress Software by 3.0% during the first quarter. Avantax Advisory Services Inc. now owns 6,396 shares of the software maker’s stock worth $329,000 after acquiring an additional 185 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Progress Software by 1,161.5% during the 1st quarter. LPL Financial LLC now owns 48,112 shares of the software maker’s stock valued at $2,478,000 after purchasing an additional 44,298 shares during the last quarter. XTX Topco Ltd acquired a new position in Progress Software during the 1st quarter worth approximately $328,000. Natixis Advisors LLC bought a new position in Progress Software in the 1st quarter valued at approximately $693,000. Finally, PNC Financial Services Group Inc. boosted its position in Progress Software by 9.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,409 shares of the software maker’s stock valued at $433,000 after buying an additional 694 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PRGS shares. DA Davidson reiterated a “buy” rating and set a $75.00 price target on shares of Progress Software in a report on Tuesday, September 30th. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. Citigroup raised Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Monday, October 13th. Wall Street Zen upgraded Progress Software from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group dropped their price objective on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a report on Tuesday, September 30th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Progress Software Stock Up 2.0%

Shares of NASDAQ:PRGS opened at $42.79 on Wednesday. The firm has a market cap of $1.84 billion, a P/E ratio of 38.90, a P/E/G ratio of 1.95 and a beta of 0.64. Progress Software Corporation has a 12-month low of $39.00 and a 12-month high of $70.28. The business has a fifty day simple moving average of $43.38 and a 200 day simple moving average of $48.99. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 2.22.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Monday, September 29th. The software maker reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.20. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The company had revenue of $249.80 million during the quarter, compared to analysts’ expectations of $240.11 million. During the same quarter in the prior year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was up 39.8% on a year-over-year basis. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS and its Q4 2025 guidance at 1.290-1.350 EPS. Analysts predict that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insider Activity at Progress Software

In related news, CFO Anthony Folger sold 5,474 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $46.47, for a total value of $254,376.78. Following the transaction, the chief financial officer owned 42,559 shares in the company, valued at $1,977,716.73. The trade was a 11.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yufan Stephanie Wang sold 1,428 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $46.26, for a total transaction of $66,059.28. Following the sale, the insider directly owned 668 shares in the company, valued at $30,901.68. This trade represents a 68.13% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 7,311 shares of company stock valued at $339,332. Company insiders own 3.60% of the company’s stock.

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.