Envestnet Asset Management Inc. Sells 31,647 Shares of Progress Software Corporation $PRGS

Envestnet Asset Management Inc. lowered its stake in Progress Software Corporation (NASDAQ:PRGS) by 34.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,028 shares of the software maker’s stock after selling 31,647 shares during the period. Envestnet Asset Management Inc. owned 0.14% of Progress Software worth $2,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Quaker Wealth Management LLC boosted its position in shares of Progress Software by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 450 shares of the software maker’s stock worth $29,000 after acquiring an additional 900 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new position in Progress Software in the second quarter valued at about $41,000. Osaic Holdings Inc. raised its position in shares of Progress Software by 183.0% in the 2nd quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after purchasing an additional 637 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Progress Software by 2,366.7% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,776 shares of the software maker’s stock worth $113,000 after purchasing an additional 1,704 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PRGS shares. Jefferies Financial Group cut their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, January 5th. DA Davidson reaffirmed a “buy” rating and set a $70.00 target price on shares of Progress Software in a research note on Wednesday, February 4th. Wedbush decreased 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 report on Thursday, January 22nd. Citigroup boosted their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Insider Transactions at Progress Software

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

Progress Software Stock Performance

NASDAQ PRGS opened at $42.09 on Friday. Progress Software Corporation has a fifty-two week low of $34.57 and a fifty-two week high of $65.50. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 25.36, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. The business has a fifty day moving average of $41.17 and a 200-day moving average of $42.83. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The firm had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.86 million. During the same period in the previous year, the firm earned $1.33 earnings per share. Progress Software’s revenue 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 predict that Progress Software Corporation 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.