Progress Software Corporation (NASDAQ:PRGS) Receives $64.60 Consensus PT from Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $64.60.

A number of analysts have issued reports on the company. Wedbush cut their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Jefferies Financial Group reduced their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. DA Davidson reaffirmed a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research report on Wednesday, February 4th. Finally, Citigroup raised their target price on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd.

Insider Buying and Selling

In other news, CFO Anthony Folger sold 6,000 shares of the business’s 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 transaction, the chief financial officer owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sundar Subramanian sold 21,594 shares of Progress Software stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the sale, the executive vice president owned 15,542 shares in the company, valued at approximately $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,546 shares of company stock worth $1,171,546. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PRGS. DLD Asset Management LP boosted its position in 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 worth $2,745,120,000 after purchasing an additional 10,300,000 shares during the period. Boston Trust Walden Corp raised its holdings in shares of Progress Software by 8.6% during the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock valued at $85,693,000 after buying an additional 153,957 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Progress Software by 26.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after acquiring an additional 243,950 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Progress Software by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock worth $50,044,000 after purchasing an additional 20,669 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Progress Software by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after acquiring an additional 6,095 shares in the last quarter.

Progress Software Stock Down 2.0%

PRGS stock opened at $33.61 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The firm has a 50-day moving average of $39.99 and a two-hundred day moving average of $42.15. Progress Software has a 12 month low of $33.53 and a 12 month high of $65.50. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.51 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. During the same period in the previous year, the firm posted $1.33 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. 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, analysts forecast that Progress Software will post 4.01 earnings per share for the current fiscal year.

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.