Progress Software Corporation (NASDAQ:PRGS) Receives $49.67 Consensus Target Price from Analysts

Progress Software Corporation (NASDAQ:PRGS) has received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $49.6667.

Several equities research analysts recently issued reports on PRGS shares. Oppenheimer reduced their price objective on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Jefferies Financial Group dropped their target price on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Wedbush reduced their price target on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings restated a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Finally, Citigroup decreased their price target on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st.

Progress Software Price Performance

Shares of NASDAQ:PRGS opened at $40.55 on Friday. The company’s fifty day moving average is $32.58 and its two-hundred day moving average is $34.53. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software has a 12-month low of $23.82 and a 12-month high of $51.28. The company has a market cap of $1.66 billion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.70 and a beta of 0.82.

Progress Software (NASDAQ:PRGS) last issued its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business had revenue of $253.47 million during the quarter, compared to analysts’ expectations of $242.74 million. During the same quarter last year, the firm posted $1.40 earnings per share. Progress Software’s revenue was up 6.8% compared to the same quarter last year. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Equities analysts expect that Progress Software will post 4.77 earnings per share for the current fiscal year.

Insider Transactions at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the sale, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. This trade represents a 36.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Progress Software

Several hedge funds and other institutional investors have recently modified their holdings of PRGS. ProShare Advisors LLC lifted its position in shares of Progress Software by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock worth $358,000 after buying an additional 258 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Progress Software by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock valued at $2,531,000 after acquiring an additional 333 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of Progress Software by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock valued at $948,000 after acquiring an additional 357 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Progress Software by 23.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock valued at $71,000 after acquiring an additional 410 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Progress Software by 0.9% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker’s stock valued at $2,085,000 after acquiring an additional 450 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.