Progress Software (NASDAQ:PRGS) Raised to “Strong-Buy” at Zacks Research

Progress Software (NASDAQ:PRGS) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday, Zacks reports.

Several other research firms have also issued reports on PRGS. Weiss Ratings raised shares of 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 issued a $83.00 price target on shares of Progress Software in a research report on Wednesday, July 1st. Jefferies Financial Group raised shares of Progress Software to a “hold” rating in a research note on Friday, September 25th. Oppenheimer decreased their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Finally, DA Davidson restated a “buy” rating and set a $55.00 target price on shares of Progress Software in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.17.

Progress Software Stock Down 0.1%

Shares of Progress Software stock opened at $37.20 on Monday. Progress Software has a twelve month low of $23.82 and a twelve month high of $47.31. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.33. The company’s 50 day moving average is $41.98 and its 200 day moving average is $35.18. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.56 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.17. The business had revenue of $246.01 million for the quarter, compared to analysts’ expectations of $247.33 million. Progress Software had a return on equity of 42.91% and a net margin of 9.24%.The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. 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. Research analysts anticipate that Progress Software will post 4.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new position in shares of Progress Software during the 1st quarter valued at approximately $26,000. Public Employees Retirement System of Ohio bought a new stake in Progress Software in the second quarter worth $28,000. Parallel Advisors LLC lifted its position 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 buying an additional 653 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Progress Software by 192.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after buying an additional 877 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in Progress Software during 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.