Insider Selling: Progress Software (NASDAQ:PRGS) Insider Sells 1,245 Shares of Stock

Progress Software Corporation (NASDAQ:PRGS) insider Yufan Stephanie Wang sold 1,245 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $37.00, for a total transaction of $46,065.00. Following the transaction, the insider owned 3,487 shares of the company’s stock, valued at approximately $129,019. This trade represents a 26.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Stock Up 0.0%

PRGS traded up $0.01 during trading on Wednesday, hitting $37.21. The stock had a trading volume of 694,649 shares, compared to its average volume of 849,169. The company has a market capitalization of $1.52 billion, a PE ratio of 17.15, a PEG ratio of 1.56 and a beta of 0.89. Progress Software Corporation has a twelve month low of $23.82 and a twelve month high of $47.25. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50 day simple moving average of $41.98 and a two-hundred day simple moving average of $35.18.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a return on equity of 42.91% and a net margin of 9.24%.The business had revenue of $246.01 million for the quarter, compared to the consensus estimate of $247.33 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. On average, research analysts predict that Progress Software Corporation will post 4.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PRGS shares. Oppenheimer decreased their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Progress Software from a “hold” rating to a “strong-buy” rating in a report on Monday. Jefferies Financial Group raised shares of Progress Software to a “hold” rating in a research report on Friday, September 25th. Finally, Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.17.

Institutional Trading of Progress Software

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in shares of Progress Software in the first quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new stake in Progress Software during the 2nd quarter valued at approximately $28,000. Parallel Advisors LLC lifted its stake in Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after acquiring an additional 653 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Progress Software by 192.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after acquiring an additional 877 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Progress Software in the second quarter worth $61,000.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.