Progress Software (NASDAQ:PRGS) Hits New 52-Week Low – Should You Sell?

Progress Software Corporation (NASDAQ:PRGS)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $38.52 and last traded at $38.3250, with a volume of 153392 shares. The stock had previously closed at $40.95.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson reissued a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a research report on Wednesday, February 4th. Citigroup boosted their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Jefferies Financial Group decreased their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Finally, Wedbush decreased their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Four equities 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.com, the company has an average rating of “Moderate Buy” and an average price target of $64.60.

Progress Software Stock Performance

The company’s fifty day simple moving average is $42.42 and its 200 day simple moving average is $43.43. The stock has a market capitalization of $1.50 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.94 and a beta of 0.59. 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 quarterly 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 return on equity of 43.90% and a net margin of 7.48%.The firm had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.86 million. During the same quarter last year, the company posted $1.33 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. 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 forecast that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Insider Activity

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the 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 of the company’s stock, valued at $1,952,080. This represents a 10.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sundar Subramanian sold 1,352 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was 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 directly owned 29,066 shares in the company, valued at approximately $1,231,526.42. This trade represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Progress Software

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of Progress Software by 0.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 37,067 shares of the software maker’s stock worth $2,366,000 after purchasing an additional 241 shares in the last quarter. ProShare Advisors LLC boosted its holdings in 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 acquiring an additional 258 shares in the last quarter. F m Investments LLC grew its stake in shares of Progress Software by 0.5% in the second quarter. F m Investments LLC now owns 54,408 shares of the software maker’s stock worth $3,473,000 after acquiring an additional 271 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Progress Software by 0.8% during the second 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 in the last quarter. Finally, Integrated Investment Consultants LLC raised its position in shares of Progress Software by 4.7% in the 2nd quarter. Integrated Investment Consultants LLC now owns 8,257 shares of the software maker’s stock worth $527,000 after purchasing an additional 372 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.