Progress Software (NASDAQ:PRGS) Trading Up 13.1% – Here’s What Happened

Progress Software Corporation (NASDAQ:PRGS) shares shot up 13.1% on Friday . The company traded as high as $40.60 and last traded at $41.19. 962,286 shares traded hands during trading, an increase of 5% from the average session volume of 919,630 shares. The stock had previously closed at $36.42.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wedbush lowered their target price on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. DA Davidson restated a “buy” rating and issued a $70.00 price target on shares of Progress Software in a research report on Wednesday, February 4th. Jefferies Financial Group dropped their price objective on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Citigroup increased their target price on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, February 5th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Trading Up 10.7%

The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $1.70 billion, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 1.57 and a beta of 0.59. The company has a fifty day simple moving average of $41.45 and a two-hundred day simple moving average of $42.95.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 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 analyst estimates of $252.86 million. During the same quarter last year, the firm posted $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. On average, sell-side analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insider Buying and Selling at Progress Software

In related news, EVP Sundar Subramanian sold 1,352 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were sold at an average price of $42.37, for a total transaction of $57,284.24. Following the sale, the executive vice president directly owned 29,066 shares in the company, valued at $1,231,526.42. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the 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 transaction, the chief financial officer owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progress Software

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its holdings in 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 acquiring an additional 604 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Progress Software by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after purchasing an additional 6,147 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Progress Software by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after purchasing an additional 1,454 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Progress Software by 206.8% in the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after buying an additional 75,044 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.