Progress Software (NASDAQ:PRGS) Given “Buy” Rating at DA Davidson

DA Davidson reiterated their buy rating on shares of Progress Software (NASDAQ:PRGS) in a research note issued to investors on Wednesday,Benzinga reports. DA Davidson currently has a $70.00 price objective on the software maker’s stock.

A number of other brokerages also recently weighed in on PRGS. Citigroup boosted their target price 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. Jefferies Financial Group lowered their price objective 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 raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Finally, Wedbush reduced their price target on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.60.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $40.73 on Wednesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. The business has a 50-day moving average of $42.39 and a 200-day moving average of $43.67. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.76 and a beta of 0.59. Progress Software has a fifty-two week low of $38.54 and a fifty-two week high of $65.50.

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

Insider Buying and Selling

In other news, CFO Anthony Folger sold 6,000 shares of the company’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. This 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 can be accessed through this link. Also, EVP Sundar Subramanian sold 1,352 shares of the business’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 sale, the executive vice president owned 29,066 shares of the company’s stock, valued at $1,231,526.42. This trade represents a 4.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.40% of the company’s stock.

Institutional Trading of Progress Software

Several hedge funds and other institutional investors have recently bought and sold shares of the business. DLD Asset Management LP grew 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 worth $2,745,120,000 after purchasing an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp grew its position in 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 worth $85,693,000 after buying an additional 153,957 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Progress Software by 26.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after buying an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Progress Software by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock worth $50,044,000 after acquiring an additional 20,669 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Progress Software by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,067,462 shares of the software maker’s stock valued at $68,155,000 after acquiring an additional 5,187 shares in the last quarter.

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.