Progress Software Corporation (NASDAQ:PRGS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Progress Software Corporation (NASDAQ:PRGS) have been assigned an average rating of “Moderate Buy” from the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $64.60.

Several research analysts have issued reports on PRGS shares. DA Davidson restated a “buy” rating and set a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Jefferies Financial Group decreased their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Wedbush dropped their target price on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report 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, Citigroup increased their price target on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd.

Progress Software Trading Up 2.4%

Shares of Progress Software stock opened at $36.53 on Tuesday. The firm’s 50 day moving average is $41.98 and its 200 day moving average is $43.12. The firm has a market capitalization of $1.54 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.60 and a beta of 0.59. Progress Software has a 1 year low of $35.26 and a 1 year high of $65.50. 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 issued 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. 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 during the quarter, compared to analysts’ expectations of $252.86 million. During the same quarter in the prior year, the firm earned $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. Equities research analysts forecast that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insider Activity at Progress Software

In other Progress Software news, 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 transaction of $57,284.24. Following the completion of the sale, the executive vice president owned 29,066 shares in the company, valued at approximately $1,231,526.42. The trade was a 4.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.60% of the company’s stock.

Institutional Trading of Progress Software

Several institutional investors and hedge funds have recently made changes to their positions in PRGS. DLD Asset Management LP grew its holdings in Progress Software by 31.5% during 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 purchasing an additional 10,300,000 shares during the period. LSV Asset Management lifted its position in shares of Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after buying an additional 619,800 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Progress Software during the 3rd quarter worth $16,324,000. Marshall Wace LLP grew its stake in shares of Progress Software by 732.6% during the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock worth $15,700,000 after acquiring an additional 314,459 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its holdings in Progress Software by 145.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock worth $20,410,000 after acquiring an additional 275,205 shares during 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.