Short Interest in Progress Software Corporation (NASDAQ:PRGS) Declines By 14.7%

Progress Software Corporation (NASDAQ:PRGS) was the target of a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 3,594,278 shares, a decrease of 14.7% from the January 15th total of 4,213,577 shares. Currently, 8.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,240,243 shares, the short-interest ratio is currently 2.9 days. Based on an average daily trading volume, of 1,240,243 shares, the short-interest ratio is currently 2.9 days. Currently, 8.9% of the shares of the company are short sold.

Progress Software Stock Up 2.2%

Shares of NASDAQ:PRGS opened at $35.81 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. The firm has a market cap of $1.51 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.54 and a beta of 0.59. Progress Software has a 12 month low of $34.57 and a 12 month high of $65.50. The company’s 50-day moving average price is $41.62 and its two-hundred day moving average price is $42.99.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. Progress Software’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 earnings per share. 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. As a group, research analysts forecast that Progress Software will post 4.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup boosted their price target on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research note on Wednesday, February 4th. Wedbush reduced their target price 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. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Finally, Jefferies Financial Group reduced their price target on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Insider Activity

In related news, EVP Sundar Subramanian sold 1,352 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24. Following the transaction, the executive vice president directly owned 29,066 shares in the company, valued at $1,231,526.42. The trade was a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares in the company, valued at $1,952,080. The trade was a 10.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progress Software

Several large investors have recently bought and sold shares of the business. DLD Asset Management LP raised its position in shares of Progress Software by 31.5% during the 2nd 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 during the last quarter. LSV Asset Management grew its stake in shares of Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after purchasing an additional 619,800 shares during the period. Qube Research & Technologies Ltd bought a new stake in Progress Software in the third quarter valued at about $16,324,000. Marshall Wace LLP lifted its stake in Progress Software by 732.6% in the third 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 during the period. Finally, Diamond Hill Capital Management Inc. lifted 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 period.

Progress Software Company Profile

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.