Progress Software (NASDAQ:PRGS) Trading Down 7.1% – What’s Next?

Shares of Progress Software Corporation (NASDAQ:PRGS) were down 7.1% during trading on Tuesday . The stock traded as low as $29.52 and last traded at $29.0460. Approximately 182,139 shares changed hands during trading, a decline of 82% from the average daily volume of 1,011,066 shares. The stock had previously closed at $31.28.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. DA Davidson dropped their target price on shares of Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Jefferies Financial Group dropped their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Wedbush reduced 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. Finally, Citigroup upped their price target on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Four 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. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and an average target price of $60.60.

Progress Software Stock Performance

The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The company has a market cap of $1.19 billion, a PE ratio of 17.04, a P/E/G ratio of 1.26 and a beta of 0.57. The firm’s 50-day simple moving average is $38.38 and its two-hundred day simple moving average is $41.48.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $252.86 million. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue for the quarter 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. As a group, research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at Progress Software

In other news, CFO Anthony Folger sold 6,000 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 48,802 shares in the company, valued at $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Sundar Subramanian sold 21,594 shares of Progress Software stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the transaction, the executive vice president 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 SEC filing for this sale provides additional information. Insiders sold 30,546 shares of company stock worth $1,171,546 over the last three months. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Progress Software

Several institutional investors and hedge funds have recently bought and sold shares of PRGS. Hantz Financial Services Inc. increased its stake in Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Progress Software during the second quarter worth $41,000. Kemnay Advisory Services Inc. purchased a new position in Progress Software in the fourth quarter worth $42,000. Advisors Asset Management Inc. lifted its holdings in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after acquiring an additional 604 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in Progress Software by 1,042.5% in the fourth quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock valued at $55,000 after acquiring an additional 1,178 shares during the period.

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.