Hillsdale Investment Management Inc. Acquires 17,800 Shares of Progress Software Corporation $PRGS

Hillsdale Investment Management Inc. raised its holdings in Progress Software Corporation (NASDAQ:PRGS) by 14.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 142,550 shares of the software maker’s stock after acquiring an additional 17,800 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.34% of Progress Software worth $3,656,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. LSV Asset Management raised its holdings in shares of Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after purchasing an additional 619,800 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Progress Software in the 3rd quarter valued at $16,324,000. Marshall Wace LLP boosted its holdings in Progress Software by 732.6% in the third quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock worth $15,700,000 after purchasing an additional 314,459 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after buying an additional 241,515 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Progress Software during the second quarter worth $9,337,000.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PRGS. Oppenheimer reduced their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. DA Davidson reissued a “buy” rating and set a $40.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. Wedbush cut their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Finally, Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 16th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Progress Software has an average rating of “Moderate Buy” and a consensus target price of $49.67.

Progress Software Stock Up 3.9%

Progress Software stock opened at $38.93 on Thursday. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Corporation has a fifty-two week low of $23.82 and a fifty-two week high of $51.28. The firm has a fifty day moving average price of $32.15 and a two-hundred day moving average price of $34.57. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.57 and a beta of 0.82.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.16. The company had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $1.40 earnings per share. 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. As a group, analysts forecast 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 the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the sale, the executive vice president owned 18,370 shares of the company’s stock, valued at $703,019.90. This trade represents a 36.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is currently owned by insiders.

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.