Oaktop Capital Management II L.P. Makes New Investment in Progress Software Corporation $PRGS

Oaktop Capital Management II L.P. bought a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 508,608 shares of the software maker’s stock, valued at approximately $17,079,000. Progress Software accounts for 0.7% of Oaktop Capital Management II L.P.’s portfolio, making the stock its 10th largest holding. Oaktop Capital Management II L.P. owned approximately 1.24% of Progress Software as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in shares of Progress Software during the first quarter valued at approximately $26,000. Parallel Advisors LLC boosted its holdings in Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares during the last quarter. Hantz Financial Services Inc. grew its position in Progress Software by 194.1% in the 4th quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after purchasing an additional 493 shares during the period. Kemnay Advisory Services Inc. bought a new stake in Progress Software in the 4th quarter worth approximately $42,000. Finally, Advisors Asset Management Inc. raised its stake in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a research report on Wednesday, July 1st. DA Davidson increased their target price on Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Finally, Oppenheimer dropped their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.17.

Insider Buying and Selling at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. The trade was a 36.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

Progress Software Trading Down 2.0%

Shares of PRGS stock opened at $42.86 on Tuesday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.84 and a beta of 0.80. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37. The firm has a fifty day moving average price of $37.29 and a 200-day moving average price of $34.43.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company had revenue of $253.47 million for the quarter, compared to analysts’ expectations of $242.74 million. During the same period last year, the firm earned $1.40 EPS. Progress Software’s revenue for the quarter was up 6.8% compared to the same quarter last year. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. As a group, equities analysts predict that Progress Software Corporation will post 4.77 earnings per share for the current year.

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.