Progress Software (NASDAQ:PRGS) Reaches New 52-Week Low – Here’s Why

Shares of Progress Software Corporation (NASDAQ:PRGS) hit a new 52-week low during trading on Thursday . The company traded as low as $31.96 and last traded at $32.06, with a volume of 877158 shares. The stock had previously closed at $33.62.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PRGS shares. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Wedbush dropped 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. Citigroup upped their target price on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Jefferies Financial Group reduced their target price 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. Finally, DA Davidson restated a “buy” rating and issued a $70.00 price target on shares of Progress Software in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

Progress Software Price Performance

The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. The company has a fifty day moving average price of $39.61 and a 200 day moving average price of $41.99. The company has a market capitalization of $1.35 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.57.

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 the consensus estimate of $1.31 by $0.20. The business had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm 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, sell-side analysts forecast that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Sundar Subramanian sold 21,594 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $37.65, for a total value of $813,014.10. Following the sale, the executive vice president directly owned 15,542 shares in the company, valued at $585,156.30. This trade represents a 58.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction on 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 $1,952,080. This trade represents a 10.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 30,546 shares of company stock valued at $1,171,546 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently made changes to their positions in PRGS. DLD Asset Management LP boosted its holdings in shares of Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after acquiring an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp lifted its position in Progress Software by 8.6% in the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Progress Software by 26.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after purchasing an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Progress Software by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock valued at $50,044,000 after purchasing an additional 20,669 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Progress Software by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after purchasing an additional 6,095 shares during the period.

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.