Progress Software (NASDAQ:PRGS) Sets New 52-Week Low After Insider Selling

Progress Software Corporation (NASDAQ:PRGS)’s stock price hit a new 52-week low on Friday after an insider sold shares in the company. The stock traded as low as $34.36 and last traded at $34.3560, with a volume of 84663 shares traded. The stock had previously closed at $35.69.

Specifically, EVP Sundar Subramanian sold 1,600 shares of Progress Software stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. The trade was a 9.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sundar Subramanian sold 21,594 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total transaction of $813,014.10. Following the completion of the transaction, the executive vice president directly owned 15,542 shares in the company, valued at $585,156.30. This trade represents a 58.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Wall Street Analyst Weigh In

PRGS has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. Jefferies Financial Group reduced their target price 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. Citigroup raised their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Finally, Wedbush dropped their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and an average price target of $64.60.

Progress Software Price Performance

The stock has a market capitalization of $1.44 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.57 and a beta of 0.57. The business’s 50-day moving average price is $40.13 and its 200 day moving average price is $42.30. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data 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 company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. During the same quarter last year, the business posted $1.33 earnings per share. The firm’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. Research analysts forecast that Progress Software Corporation will post 4.01 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. DLD Asset Management LP increased its position in shares of Progress Software by 31.5% in the second 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 last quarter. Boston Trust Walden Corp lifted 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 valued at $85,693,000 after purchasing an additional 153,957 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 buying an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP increased 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 buying an additional 20,669 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Progress Software by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock worth $46,468,000 after buying an additional 6,095 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.