Progress Software Corporation (NASDAQ:PRGS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $64.60.

PRGS has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Weiss Ratings downgraded Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. 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. DA Davidson reissued a “buy” rating and issued a $70.00 price target on shares of Progress Software in a report on Wednesday, February 4th. Finally, Wedbush reduced 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 note on Thursday, January 22nd.

Insider Buying and Selling at Progress Software

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $42.37, for a total value 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 SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Progress Software

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

Progress Software Stock Performance

Shares of PRGS stock opened at $36.53 on Tuesday. The firm’s 50 day moving average is $41.98 and its 200 day moving average is $43.12. The stock has a market capitalization of $1.54 billion, a P/E ratio of 22.01, a PEG ratio of 1.60 and a beta of 0.59. Progress Software has a 12 month low of $35.26 and a 12 month high of $65.50. 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 (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 earnings per share 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 during the quarter, compared to analyst estimates of $252.86 million. During the same period in the previous year, the business earned $1.33 EPS. Progress Software’s revenue was up 17.5% compared to the same quarter last year. 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, sell-side analysts anticipate that Progress Software will post 4.01 earnings per share for the current year.

About Progress Software

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.