Equities Analysts Offer Predictions for PRGS FY2025 Earnings

Progress Software Co. (NASDAQ:PRGS) – Analysts at DA Davidson dropped their FY2025 earnings per share (EPS) estimates for shares of Progress Software in a research note issued to investors on Tuesday, April 15th. DA Davidson analyst L. Schreiner now expects that the software maker will earn $4.08 per share for the year, down from their previous forecast of $4.16. DA Davidson has a “Buy” rating and a $70.00 price objective on the stock. The consensus estimate for Progress Software’s current full-year earnings is $4.01 per share. DA Davidson also issued estimates for Progress Software’s FY2026 earnings at $4.43 EPS.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Monday, March 31st. The software maker reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.27. The company had revenue of $238.02 million during the quarter, compared to analysts’ expectations of $235.64 million. Progress Software had a net margin of 9.08% and a return on equity of 41.56%. Progress Software’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share.

Several other analysts have also recently issued reports on PRGS. Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Progress Software in a report on Tuesday, April 1st. Guggenheim reaffirmed a “buy” rating and set a $83.00 price target on shares of Progress Software in a research note on Tuesday, April 1st. StockNews.com cut shares of Progress Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 23rd. Jefferies Financial Group upped their target price on shares of Progress Software from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price target on Progress Software from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.33.

Progress Software Trading Down 0.1 %

Shares of PRGS stock opened at $56.00 on Thursday. The stock’s 50-day moving average price is $55.80 and its 200-day moving average price is $61.61. Progress Software has a 12-month low of $48.00 and a 12-month high of $70.56. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 2.82 and a beta of 0.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 3.48.

Institutional Trading of Progress Software

A number of large investors have recently made changes to their positions in the stock. QRG Capital Management Inc. lifted its holdings in Progress Software by 1.8% during the 1st quarter. QRG Capital Management Inc. now owns 10,607 shares of the software maker’s stock valued at $546,000 after buying an additional 187 shares in the last quarter. Assetmark Inc. raised its stake in shares of Progress Software by 6.6% during the fourth quarter. Assetmark Inc. now owns 3,301 shares of the software maker’s stock valued at $215,000 after acquiring an additional 204 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Progress Software by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,446 shares of the software maker’s stock valued at $290,000 after purchasing an additional 239 shares during the period. First Trust Advisors LP grew its stake in Progress Software by 0.3% in the fourth quarter. First Trust Advisors LP now owns 95,908 shares of the software maker’s stock worth $6,248,000 after purchasing an additional 281 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Progress Software by 149.5% during the 4th quarter. Bessemer Group Inc. now owns 494 shares of the software maker’s stock worth $33,000 after purchasing an additional 296 shares during the period.

Insider Buying and Selling

In related news, insider Ian Pitt sold 1,482 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $56.60, for a total transaction of $83,881.20. Following the completion of the transaction, the insider now owns 7,613 shares in the company, valued at $430,895.80. The trade was a 16.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Anthony Folger sold 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $844,500.00. Following the completion of the transaction, the chief financial officer now directly owns 44,564 shares in the company, valued at $2,508,953.20. This trade represents a 25.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,185 shares of company stock valued at $1,024,193 in the last ninety days. 3.60% of the stock is owned by company insiders.

Progress Software Company Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.