Progress Software (NASDAQ:PRGS) Sets New 12-Month Low After Insider Selling

Progress Software Corporation (NASDAQ:PRGS)’s share price reached a new 52-week low during mid-day trading on Friday following insider selling activity. The company traded as low as $34.36 and last traded at $34.3560, with a volume of 84663 shares changing hands. The stock had previously closed at $35.69.

Specifically, EVP Sundar Subramanian sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total value of $61,248.00. Following the completion of the transaction, the executive vice president directly owned 15,542 shares in the company, valued at approximately $594,947.76. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sundar Subramanian sold 21,594 shares of Progress Software stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $37.65, for a total value of $813,014.10. Following the completion of the sale, the executive vice president owned 15,542 shares in the company, valued at $585,156.30. This represents a 58.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. DA Davidson restated a “buy” rating and issued a $70.00 price objective on shares of Progress Software in a report on Wednesday, February 4th. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday. Citigroup increased their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Wedbush dropped their price target 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. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.60.

Progress Software Price Performance

The stock has a market cap of $1.44 billion, a PE ratio of 20.66, a P/E/G ratio of 1.51 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. The company has a fifty day moving average of $40.13 and a 200-day moving average of $42.28.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.20. The company had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $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. Sell-side analysts expect that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRGS. Hantz Financial Services Inc. grew its position in shares of 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 period. Elevation Point Wealth Partners LLC acquired a new stake in Progress Software in the 2nd quarter worth about $41,000. Kemnay Advisory Services Inc. purchased a new stake in Progress Software in the 4th quarter valued at about $42,000. Advisors Asset Management Inc. increased its stake in shares of Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after acquiring an additional 604 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Progress Software by 1,042.5% during the 4th quarter. TD Private Client Wealth LLC now owns 1,291 shares of the software maker’s stock worth $55,000 after acquiring an additional 1,178 shares during the period.

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.