Progress Software (NASDAQ:PRGS) Trading Up 5.6% – What’s Next?

Progress Software Corporation (NASDAQ:PRGS) shares were up 5.6% during mid-day trading on Thursday . The company traded as high as $28.86 and last traded at $28.86. Approximately 305,823 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,034,559 shares. The stock had previously closed at $27.33.

Analysts Set New Price Targets

PRGS has been the topic of a number of research reports. DA Davidson decreased their price objective on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group cut 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. Wedbush decreased their price target 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. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Finally, Citigroup upped their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and a consensus target price of $60.60.

Progress Software Stock Performance

The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The business has a 50 day moving average price of $38.38 and a two-hundred day moving average price of $41.48. The company has a market cap of $1.21 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 1.26 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The business had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.Progress Software’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $1.33 EPS. 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 anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insider Activity at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 21,594 shares of the 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 completion of the sale, the executive vice president owned 15,542 shares of the company’s stock, valued at $585,156.30. This represents a 58.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the firm’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 completion of the sale, the chief financial officer directly owned 48,802 shares in the company, 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. Insiders sold 30,546 shares of company stock worth $1,171,546 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently modified their holdings of the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Progress Software during the second quarter worth about $41,000. Hantz Financial Services Inc. increased its holdings in Progress Software by 194.1% during the 4th 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. Kemnay Advisory Services Inc. bought a new position in Progress Software during the 4th quarter valued at approximately $42,000. Osaic Holdings Inc. raised its position in Progress Software by 183.0% during the 2nd quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock valued at $62,000 after purchasing an additional 637 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 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.