Heron Bay Capital Management Purchases 137,189 Shares of Progress Software Corporation $PRGS

Heron Bay Capital Management increased its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 117.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 254,311 shares of the software maker’s stock after acquiring an additional 137,189 shares during the period. Progress Software comprises about 2.1% of Heron Bay Capital Management’s portfolio, making the stock its 17th biggest position. Heron Bay Capital Management owned about 0.59% of Progress Software worth $11,172,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRGS. Elevation Point Wealth Partners LLC bought a new position in Progress Software in the 2nd quarter valued at approximately $41,000. Osaic Holdings Inc. lifted its holdings in shares of Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after purchasing an additional 637 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Progress Software by 2,366.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,776 shares of the software maker’s stock valued at $113,000 after purchasing an additional 1,704 shares during the period. Finally, State of Wyoming bought a new position in Progress Software during the 2nd quarter worth $137,000.

Progress Software Stock Performance

NASDAQ:PRGS opened at $39.71 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. Progress Software Corporation has a twelve month low of $34.57 and a twelve month high of $65.50. The company has a fifty day moving average of $40.83 and a 200-day moving average of $42.65. The firm has a market capitalization of $1.67 billion, a P/E ratio of 23.92, a P/E/G ratio of 1.70 and a beta of 0.57.

Progress Software (NASDAQ:PRGS) last posted 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 net margin of 7.48% and a return on equity of 43.90%. The business had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. During the same period last year, the company posted $1.33 earnings per share. The business’s quarterly revenue 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 anticipate that Progress Software Corporation will post 4.01 EPS for the current year.

Insider Buying and Selling

In related news, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the sale, the executive vice president owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer owned 48,802 shares in the company, valued at approximately $1,952,080. The trade was a 10.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 3.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.