Progress Software (NASDAQ:PRGS) Sets New 52-Week Low – Here’s What Happened

Progress Software Corporation (NASDAQ:PRGS) reached a new 52-week low during trading on Wednesday . The company traded as low as $28.69 and last traded at $28.76, with a volume of 1240405 shares traded. The stock had previously closed at $31.28.

Wall Street Analysts Forecast Growth

PRGS has been the subject of a number of research reports. DA Davidson restated a “buy” rating and set a $70.00 target price on shares of Progress Software in a report on Wednesday, February 4th. Wedbush cut their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. Jefferies Financial Group reduced their price objective 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. Citigroup boosted their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.60.

Progress Software Trading Down 8.1%

The company’s 50-day moving average is $38.67 and its 200 day moving average is $41.58. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The firm has a market cap of $1.21 billion, a PE ratio of 17.33, a P/E/G ratio of 1.37 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $252.86 million. During the same period in the previous year, the company posted $1.33 EPS. The company’s quarterly 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, sell-side analysts predict that Progress Software Corporation will post 4.01 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Progress Software

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

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.