GW&K Investment Management LLC Takes $2.61 Million Position in Progress Software Corporation $PRGS

GW&K Investment Management LLC purchased a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 59,475 shares of the software maker’s stock, valued at approximately $2,613,000. GW&K Investment Management LLC owned 0.14% of Progress Software as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PRGS. Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 20,669 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Progress Software by 39.3% during the 3rd quarter. Victory Capital Management Inc. now owns 62,282 shares of the software maker’s stock worth $2,736,000 after purchasing an additional 17,556 shares during the period. Segall Bryant & Hamill LLC grew its holdings in Progress Software by 19.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 643,145 shares of the software maker’s stock valued at $28,253,000 after purchasing an additional 104,611 shares during the last quarter. Elo Mutual Pension Insurance Co grew its holdings in Progress Software by 63.4% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 24,828 shares of the software maker’s stock valued at $1,091,000 after purchasing an additional 9,634 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Progress Software by 1.0% in the 3rd quarter. American Century Companies Inc. now owns 648,792 shares of the software maker’s stock worth $28,501,000 after purchasing an additional 6,145 shares during the period.

Wall Street Analyst Weigh In

PRGS has been the subject of several recent analyst reports. DA Davidson restated a “buy” rating and set a $70.00 target price on shares of Progress Software in a research report on Wednesday, February 4th. Jefferies Financial Group reduced their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. Citigroup boosted their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Wedbush reduced their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $64.60.

Insider Buying and Selling at Progress Software

In other Progress Software news, EVP Sundar Subramanian sold 1,352 shares of the stock in a transaction 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 sale, the executive vice president owned 29,066 shares of the company’s stock, valued at approximately $1,231,526.42. This trade represents a 4.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Anthony Folger sold 6,000 shares of the business’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 completion of the transaction, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.40% of the stock is currently owned by company insiders.

Progress Software Stock Performance

Shares of Progress Software stock opened at $39.49 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. The stock’s fifty day moving average price is $40.75 and its 200-day moving average price is $42.61. The firm has a market cap of $1.66 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.74 and a beta of 0.57. Progress Software Corporation has a 12 month low of $34.57 and a 12 month high of $65.50.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The business had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. During the same quarter last year, the firm posted $1.33 EPS. The company’s revenue for the quarter 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. On average, equities research analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current fiscal 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.