Jefferies Financial Group Lowers Progress Software (NASDAQ:PRGS) Price Target to $34.00

Progress Software (NASDAQ:PRGS) had its price objective cut by analysts at Jefferies Financial Group from $45.00 to $34.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the software maker’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 35.51% from the stock’s previous close.

A number of other brokerages have also commented on PRGS. Oppenheimer dropped their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a research report on Tuesday. Citigroup upped their price objective on shares of Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Wedbush decreased their target price on shares of Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday. DA Davidson cut their price target on Progress Software from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 13th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Progress Software Trading Down 2.2%

NASDAQ PRGS opened at $25.09 on Tuesday. The stock has a market cap of $1.06 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.11 and a beta of 0.76. The company has a current ratio of 0.47, a quick ratio of 0.49 and a debt-to-equity ratio of 1.97. Progress Software has a 12-month low of $23.82 and a 12-month high of $65.50. The company has a fifty day simple moving average of $37.06 and a two-hundred day simple moving average of $40.94.

Progress Software (NASDAQ:PRGS) last released its earnings results on Monday, March 30th. The software maker reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.03. Progress Software had a return on equity of 43.67% and a net margin of 8.61%.The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $246.40 million. During the same period in the prior year, the firm earned $1.31 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Progress Software will post 4.01 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Sundar Subramanian sold 1,600 shares of the company’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 completion of the transaction, the executive vice president directly owned 15,542 shares of the company’s stock, valued at $594,947.76. This represents a 9.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Anthony Folger sold 6,000 shares of the 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 transaction, the chief financial officer owned 48,802 shares in the company, valued at $1,952,080. This trade represents a 10.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,546 shares of company stock valued at $1,171,546 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRGS. Hsbc Holdings PLC increased its stake in Progress Software by 19.8% during the 4th quarter. Hsbc Holdings PLC now owns 30,893 shares of the software maker’s stock worth $1,327,000 after buying an additional 5,096 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Progress Software by 192.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after acquiring an additional 877 shares during the last quarter. MidFirst Bank purchased a new stake in shares of Progress Software during the fourth quarter worth approximately $601,000. Mercer Global Advisors Inc. ADV raised its stake in Progress Software by 61.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,736 shares of the software maker’s stock valued at $375,000 after purchasing an additional 3,325 shares during the last quarter. Finally, State of Tennessee Department of Treasury lifted its holdings in Progress Software by 19.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 12,768 shares of the software maker’s stock valued at $522,000 after purchasing an additional 2,110 shares in the last quarter.

Progress Software News Roundup

Here are the key news stories impacting Progress Software this week:

• Positive Sentiment: Q1 results beat expectations: Progress reported stronger‑than‑expected EPS and revenue, lifted its full‑year outlook and cited robust demand for AI‑driven products — this underpinned an initial post‑quarter rally. PRGS’ Q1 Earnings Surpass Estimates
• Positive Sentiment: Product momentum: Progress launched Sitefinity Generative CMS to add AI search, personalization and conversational features — a strategic product update that supports medium/longer‑term growth expectations for AI‑driven revenue. Sitefinity Generative CMS Release
• Neutral Sentiment: Technicals and analyst revisions could flip direction: some outlets note PRGS is technically oversold after a sharp pullback, which could prompt a reversal if upward earnings revisions continue. This is speculative and depends on follow‑through buying. After Plunging 34% in 4 Weeks — Trend Might Reverse
• Negative Sentiment: Analysts are cutting price targets and forecasts despite keeping many positive ratings — multiple firms trimmed targets after Q1 (Citigroup, Jefferies, Wedbush, Oppenheimer), and some research notes downward revisions to near‑term forecasts; those actions increase near‑term downside risk and add selling pressure. Analysts Cut Forecasts After Q1

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.