Progress Software (NASDAQ:PRGS) EVP Sundar Subramanian Sells 1,352 Shares of Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 1,352 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the sale, the executive vice president directly owned 29,066 shares in the company, valued at $1,231,526.42. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Progress Software Price Performance

Shares of PRGS stock opened at $42.89 on Tuesday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. Progress Software Corporation has a fifty-two week low of $38.54 and a fifty-two week high of $65.50. The firm has a market cap of $1.81 billion, a P/E ratio of 25.84, a P/E/G ratio of 1.86 and a beta of 0.61. The business’s 50 day moving average price is $42.33 and its 200-day moving average price is $44.02.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.20. The company had revenue of $253.00 million during the quarter, compared to the consensus estimate of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.33 earnings per share. 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, equities research analysts anticipate that Progress Software Corporation will post 4.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PRGS shares. DA Davidson reduced their price target on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Wedbush cut their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Citigroup lifted 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. Finally, Jefferies Financial Group reduced their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRGS. DLD Asset Management LP grew its stake in shares of Progress Software by 31.5% in the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after acquiring an additional 10,300,000 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Progress Software in the 3rd quarter worth about $16,324,000. Marshall Wace LLP grew its position in Progress Software by 732.6% during the 3rd quarter. Marshall Wace LLP now owns 357,384 shares of the software maker’s stock valued at $15,700,000 after purchasing an additional 314,459 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Progress Software by 145.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 464,598 shares of the software maker’s stock valued at $20,410,000 after purchasing an additional 275,205 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings 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 worth $53,302,000 after buying an additional 243,950 shares during the last quarter.

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.