Pier 88 Investment Partners LLC Invests $601,000 in Progress Software Corporation $PRGS

Pier 88 Investment Partners LLC acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 13,670 shares of the software maker’s stock, valued at approximately $601,000.

A number of other large investors have also bought and sold shares of the company. James Investment Research Inc. grew its stake in shares of Progress Software by 30.9% during the 3rd quarter. James Investment Research Inc. now owns 7,818 shares of the software maker’s stock worth $343,000 after acquiring an additional 1,845 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Progress Software during the third quarter worth about $5,175,000. UniSuper Management Pty Ltd increased its stake in shares of Progress Software by 10.4% in the third quarter. UniSuper Management Pty Ltd now owns 157,004 shares of the software maker’s stock worth $6,897,000 after purchasing an additional 14,780 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Progress Software by 61.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 30,527 shares of the software maker’s stock valued at $1,341,000 after buying an additional 11,566 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its holdings in Progress Software by 63.0% in the 3rd quarter. Hudson Edge Investment Partners Inc. now owns 27,214 shares of the software maker’s stock worth $1,196,000 after buying an additional 10,523 shares during the period.

Progress Software Trading Up 1.1%

Shares of PRGS stock opened at $42.89 on Tuesday. The firm has a market cap of $1.81 billion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.86 and a beta of 0.61. The business has a 50-day moving average price of $42.33 and a two-hundred day moving average price of $44.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. Progress Software Corporation has a 12-month low of $38.54 and a 12-month high of $65.50.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The firm had revenue of $253.00 million during the quarter, compared to analyst estimates of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $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. Equities analysts anticipate that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the sale, the executive vice president owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. The trade was a 4.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wedbush dropped their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. 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. DA Davidson decreased their price target on Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of Progress Software from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software 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.