Progress Software Corporation (NASDAQ:PRGS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $64.60.

PRGS has been the topic of several recent research reports. 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 report on Monday, January 5th. DA Davidson reiterated a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a report on Wednesday, February 4th. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. Citigroup upped their price target on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Wedbush cut their price objective on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd.

Progress Software Trading Down 3.9%

Shares of Progress Software stock opened at $34.30 on Friday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.57 and a beta of 0.57. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18. Progress Software has a 12-month low of $34.25 and a 12-month high of $65.50. The firm’s 50 day simple moving average is $40.13 and its two-hundred day simple moving average is $42.30.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The company 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%. Progress Software’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the firm 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. Analysts predict that Progress Software will post 4.01 EPS for the current year.

Insider Buying and Selling

In related news, CFO Anthony Folger sold 6,000 shares of Progress Software stock in a transaction that occurred on Tuesday, February 3rd. The shares were 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 owned 48,802 shares in the company, valued at $1,952,080. The trade was a 10.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sundar Subramanian sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00. Following the transaction, the executive vice president owned 15,542 shares of the company’s stock, valued at $594,947.76. This trade represents a 9.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,546 shares of company stock worth $1,171,546. 3.40% of the stock is owned by company insiders.

Institutional Trading of Progress Software

A number of hedge funds and other institutional investors have recently bought and sold shares of PRGS. Elevation Point Wealth Partners LLC purchased a new stake in Progress Software during the second quarter worth approximately $41,000. Hantz Financial Services Inc. increased its stake in Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Progress Software in the fourth quarter valued at approximately $42,000. Osaic Holdings Inc. raised its holdings in Progress Software by 183.0% during the second quarter. Osaic Holdings Inc. now owns 985 shares of the software maker’s stock worth $62,000 after purchasing an additional 637 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 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.