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

Shares of Progress Software Corporation (NASDAQ:PRGS) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $49.6667.

A number of research firms have commented on PRGS. Oppenheimer reduced their target price on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Weiss Ratings reissued a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Jefferies Financial Group reduced their price target on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, March 31st. DA Davidson restated a “buy” rating and issued a $40.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Finally, Citigroup reduced their price objective on Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st.

Progress Software Stock Performance

Shares of Progress Software stock opened at $39.46 on Friday. The business has a 50-day simple moving average of $33.05 and a 200-day simple moving average of $34.47. The company has a market cap of $1.62 billion, a PE ratio of 19.16, a P/E/G ratio of 1.66 and a beta of 0.82. Progress Software has a one year low of $23.82 and a one year high of $51.28. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81.

Progress Software (NASDAQ:PRGS) last announced its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. The firm had revenue of $253.47 million during 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 quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company 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. On average, equities research analysts forecast that Progress Software will post 4.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of Progress Software stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the transaction, the executive vice president owned 18,370 shares in the company, valued at approximately $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new position in Progress Software during the first quarter worth about $26,000. Parallel Advisors LLC boosted its position in shares of Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after acquiring an additional 653 shares during the last quarter. Hantz Financial Services Inc. increased its position in Progress Software by 194.1% during the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock worth $32,000 after purchasing an additional 493 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of Progress Software during the 4th quarter valued at $42,000. Finally, Advisors Asset Management Inc. grew 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 buying an additional 604 shares during the period.

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.