Progress Software (NASDAQ:PRGS) Hits New 12-Month Low – What’s Next?

Shares of Progress Software Corporation (NASDAQ:PRGS) reached a new 52-week low on Wednesday . The stock traded as low as $34.81 and last traded at $35.05, with a volume of 831836 shares traded. The stock had previously closed at $36.53.

Wall Street Analysts Forecast Growth

PRGS has been the topic of a number of research analyst reports. Wedbush cut their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. DA Davidson reiterated a “buy” rating and set a $70.00 price target on shares of Progress Software in a research note on Wednesday, February 4th. Jefferies Financial Group decreased their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, January 5th. Citigroup raised their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Four research 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. According to data from MarketBeat, Progress Software has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Progress Software Trading Up 10.7%

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 stock has a market capitalization of $1.70 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.59. The business’s 50-day moving average is $41.45 and its two-hundred day moving average is $42.95.

Progress Software (NASDAQ:PRGS) last released its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $252.86 million. During the same quarter last year, the business earned $1.33 EPS. The business’s revenue was up 17.5% on a year-over-year basis. 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. As a group, equities research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 1,352 shares of the stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24. Following the completion of the transaction, the executive vice president directly owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. This represents a 4.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the transaction, the chief financial officer directly owned 48,802 shares in the company, valued at $1,952,080. This represents a 10.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 3.40% of the company’s stock.

Institutional Trading of Progress Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DLD Asset Management LP boosted its stake in shares of Progress Software by 31.5% during the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after acquiring an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Progress Software by 8.6% during the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Progress Software by 26.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after purchasing an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Progress Software by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock valued at $50,044,000 after purchasing an additional 20,669 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Progress Software by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after buying an additional 6,095 shares in the last quarter.

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.