Sundar Subramanian Sells 1,352 Shares of Progress Software (NASDAQ:PRGS) Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 1,352 shares of the company’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the transaction, the executive vice president directly owned 29,066 shares in the company, valued at $1,231,526.42. This trade represents a 4.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Progress Software Trading Down 2.9%

NASDAQ PRGS opened at $41.66 on Wednesday. Progress Software Corporation has a 12 month low of $38.54 and a 12 month high of $65.50. The company’s 50-day moving average price is $42.37 and its 200-day moving average price is $43.96. The stock has a market cap of $1.75 billion, a PE ratio of 25.10, a PEG ratio of 1.88 and a beta of 0.61. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. During the same period in the previous year, the company earned $1.33 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 1.74-1.910 EPS and its Q1 2026 guidance at 1.56-1.62 EPS. Equities research analysts forecast that Progress Software Corporation will post 4.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PRGS. DA Davidson dropped their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Jefferies Financial Group dropped their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Citigroup upped their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Wedbush dropped their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PRGS. DLD Asset Management LP boosted its stake in Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Progress Software during the 3rd quarter worth $16,324,000. Marshall Wace LLP increased its position in Progress Software by 732.6% during the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after buying an additional 314,459 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after buying an additional 275,205 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Progress Software by 26.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after buying an additional 243,950 shares during the last quarter.

About Progress Software

Progress Software (NASDAQ: PRGS) is a global provider of enterprise software designed to simplify and accelerate the delivery of business applications. The company’s offerings span digital experience management, application development and deployment, data connectivity and integration, and predictive analytics. Progress supports organizations in building, deploying, and managing mission-critical applications across on-premises, cloud and hybrid environments, helping to reduce development complexity and operational overhead.

Key products in Progress’s portfolio include Progress OpenEdge, a robust development and database platform for building transactional applications; Progress DataDirect, which enables high-performance connectivity to disparate data sources; Progress Sitefinity, a digital experience platform for content management and personalization; Progress Telerik, a suite of UI controls and developer tools; and Progress Kinvey, a serverless backend platform for mobile and web applications.