Progress Software (NASDAQ:PRGS) Hits New 1-Year Low on Analyst Downgrade

Progress Software Corporation (NASDAQ:PRGS)’s stock price reached a new 52-week low during trading on Tuesday after Jefferies Financial Group lowered their price target on the stock from $45.00 to $34.00. Jefferies Financial Group currently has a hold rating on the stock. Progress Software traded as low as $26.25 and last traded at $26.60, with a volume of 478089 shares trading hands. The stock had previously closed at $28.27.

A number of other research firms have also recently weighed in on PRGS. Oppenheimer dropped their target price on shares of Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research note on Tuesday. Citigroup lifted their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Wedbush dropped their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Finally, DA Davidson decreased their target price on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Progress Software currently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer owned 48,802 shares in the company, valued at $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sundar Subramanian sold 21,594 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total transaction of $813,014.10. Following the completion of the sale, the executive vice president directly owned 15,542 shares in the company, valued at approximately $585,156.30. This trade represents a 58.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,546 shares of company stock valued at $1,171,546 in the last quarter. Company insiders own 3.60% of the company’s stock.

Progress Software News Roundup

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Q1 results beat and outlook lifted — Progress reported fiscal Q1 revenue of about $248M and EPS of $1.60 (vs. consensus ~ $1.57), with management raising full‑year earnings guidance on strong demand for AI‑enabled products. This initially supported upside in the shares. PRGS’ Q1 Earnings Surpass Estimates
• Positive Sentiment: Product/AI roadmap support — Progress launched Sitefinity Generative CMS to deliver AI search, personalization and conversational experiences, reinforcing the company’s AI product positioning that management cited on the call. Sitefinity Generative CMS Release
• Neutral Sentiment: Market reaction was mixed intraday — several outlets reported an initial post‑earnings pop and conference‑call takeaways showing improved operating cash flow and margin trends, but that momentum proved short‑lived. Earnings Call Highlights
• Neutral Sentiment: Fundamentals and balance sheet considerations — investors may note low liquidity ratios (current/quick ~0.49) and elevated debt/equity; these magnify sensitivity to sentiment shifts even when quarterly results are solid. No single article
• Negative Sentiment: Analyst downgrades and price‑target cuts pressured the stock — multiple firms trimmed targets and adjusted forecasts after the print, with some lowering ratings (Jefferies cut its target and set a “hold”). Those calls appear to have driven sizeable sell pressure despite the beat. Analysts Cut Forecasts After Q1
• Negative Sentiment: Notable individual cuts — Jefferies lowered its target to $34 and moved to “hold”; Wedbush and Oppenheimer also trimmed targets (to $45 and $57 respectively), which likely amplified selling given the prior higher targets. Benzinga coverage of price targets

Hedge Funds Weigh In On Progress Software

A number of large investors have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its position in shares of Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Progress Software in the 2nd quarter worth about $41,000. Kemnay Advisory Services Inc. bought a new position in Progress Software in the 4th quarter worth about $42,000. Advisors Asset Management Inc. grew its holdings in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Progress Software by 1,042.5% during the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock valued at $55,000 after buying an additional 1,178 shares during the period.

Progress Software Stock Performance

The stock has a market capitalization of $1.08 billion, a P/E ratio of 13.15, a PEG ratio of 1.24 and a beta of 0.57. 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 company has a 50-day moving average price of $37.41 and a two-hundred day moving average price of $41.05.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Monday, March 30th. The software maker reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.03. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $246.40 million. Progress Software had a net margin of 8.61% and a return on equity of 44.35%. Progress Software’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $1.31 earnings per share. Equities analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current year.

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.