Progress Software (NASDAQ:PRGS) Earns Buy Rating from DA Davidson

Progress Software (NASDAQ:PRGS)‘s stock had its “buy” rating restated by research analysts at DA Davidson in a note issued to investors on Wednesday,Benzinga reports. They currently have a $70.00 price target on the software maker’s stock. DA Davidson’s target price suggests a potential upside of 69.04% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Citigroup lifted their target price on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Jefferies Financial Group lowered their price objective on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, January 5th. Wedbush reduced their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a report on Thursday, January 22nd. Finally, Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Price Performance

Shares of NASDAQ:PRGS opened at $41.41 on Wednesday. The company has a market capitalization of $1.74 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 1.79 and a beta of 0.59. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a fifty day moving average of $42.40 and a 200-day moving average of $43.66. Progress Software has a one year low of $38.54 and a one year high of $65.50.

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

Insiders Place Their Bets

In other Progress Software news, EVP Sundar Subramanian sold 1,352 shares of the business’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 transaction, the executive vice president 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $40.00, for a total value of $240,000.00. Following the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently added to or reduced their stakes in PRGS. Russell Investments Group Ltd. lifted its stake in Progress Software by 0.7% in the second quarter. Russell Investments Group Ltd. now owns 37,067 shares of the software maker’s stock valued at $2,366,000 after acquiring an additional 241 shares during the last quarter. F m Investments LLC raised its holdings in shares of Progress Software by 0.5% during the 2nd quarter. F m Investments LLC now owns 54,408 shares of the software maker’s stock valued at $3,473,000 after purchasing an additional 271 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Progress Software by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock valued at $2,531,000 after purchasing an additional 333 shares during the last quarter. Integrated Investment Consultants LLC boosted its holdings in Progress Software by 4.7% in the second quarter. Integrated Investment Consultants LLC now owns 8,257 shares of the software maker’s stock worth $527,000 after purchasing an additional 372 shares in the last quarter. Finally, Meritage Portfolio Management increased its position in Progress Software by 2.5% during the second quarter. Meritage Portfolio Management now owns 15,302 shares of the software maker’s stock worth $977,000 after buying an additional 375 shares during the last quarter.

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.