Progress Software Corporation (NASDAQ:PRGS) Short Interest Up 14.3% in February

Progress Software Corporation (NASDAQ:PRGS) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 4,346,139 shares, an increase of 14.3% from the February 12th total of 3,802,482 shares. Currently, 10.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,421,542 shares, the short-interest ratio is currently 3.1 days. Based on an average daily trading volume, of 1,421,542 shares, the short-interest ratio is currently 3.1 days. Currently, 10.7% of the company’s stock are short sold.

Progress Software Stock Performance

PRGS stock traded up $0.10 during mid-day trading on Tuesday, hitting $33.71. 83,743 shares of the company were exchanged, compared to its average volume of 1,020,679. Progress Software has a 1-year low of $33.53 and a 1-year high of $65.50. The stock has a market capitalization of $1.42 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 1.51 and a beta of 0.57. The business has a 50 day simple moving average of $39.99 and a 200-day simple moving average of $42.15. 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 posted its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. 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, equities analysts forecast that Progress Software will post 4.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PRGS shares. Citigroup lifted their price target on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. DA Davidson reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a research report on Wednesday, February 4th. Wedbush reduced their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note 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 report on Monday, January 5th. Finally, Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Insiders Place Their Bets

In other Progress Software news, EVP Sundar Subramanian sold 21,594 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total transaction of $813,014.10. Following the sale, the executive vice president directly owned 15,542 shares of the company’s stock, valued at approximately $585,156.30. This represents a 58.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 approximately $1,952,080. This represents a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 30,546 shares of company stock worth $1,171,546. 3.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Progress Software

Several institutional investors and hedge funds have recently modified their holdings of the business. DLD Asset Management LP increased its position in Progress Software by 31.5% during the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after acquiring an additional 10,300,000 shares during the period. LSV Asset Management grew its position in shares of Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after purchasing an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Progress Software during the 3rd quarter worth approximately $16,324,000. Marshall Wace LLP increased its holdings in shares of Progress Software by 732.6% during the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock worth $15,700,000 after purchasing an additional 314,459 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Progress Software by 145.3% in the third quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after buying an additional 275,205 shares in 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.