VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Progress Software Corporation $PRGS

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Progress Software Corporation (NASDAQ:PRGS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 37,400 shares of the software maker’s stock, valued at approximately $1,256,000.

Other large investors have also modified their holdings of the company. ProShare Advisors LLC increased its holdings in shares of Progress Software by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock valued at $358,000 after acquiring an additional 258 shares in the last quarter. California State Teachers Retirement System boosted its stake in Progress Software by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock worth $2,531,000 after purchasing an additional 333 shares in the last quarter. Moody National Bank Trust Division grew its position in Progress Software by 1.3% during the 2nd quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock worth $948,000 after purchasing an additional 357 shares during the last quarter. GAMMA Investing LLC grew its position in Progress Software by 23.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock worth $71,000 after purchasing an additional 410 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its stake in Progress Software by 0.9% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 48,522 shares of the software maker’s stock valued at $2,085,000 after purchasing an additional 450 shares in the last quarter.

Progress Software Trading Down 1.7%

Progress Software stock opened at $39.92 on Friday. The firm has a market cap of $1.64 billion, a PE ratio of 19.38, a P/E/G ratio of 1.68 and a beta of 0.82. Progress Software Corporation has a 12 month low of $23.82 and a 12 month high of $47.37. The stock’s 50 day simple moving average is $41.59 and its two-hundred day simple moving average is $34.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same period in the previous year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. Analysts anticipate that Progress Software Corporation will post 4.77 earnings per share for the current year.

Insiders Place Their Bets

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the transaction, the executive vice president owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PRGS. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Oppenheimer cut their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, DA Davidson lifted their price target on Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.17.

About Progress Software

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.