SG Americas Securities LLC Purchases 64,624 Shares of Progress Software Corporation $PRGS

SG Americas Securities LLC grew its position in shares of Progress Software Corporation (NASDAQ:PRGS) by 229.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 92,819 shares of the software maker’s stock after buying an additional 64,624 shares during the period. SG Americas Securities LLC owned 0.22% of Progress Software worth $2,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC increased its stake in shares of Progress Software by 19.8% in the fourth quarter. Hsbc Holdings PLC now owns 30,893 shares of the software maker’s stock worth $1,327,000 after purchasing an additional 5,096 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Progress Software by 192.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock worth $57,000 after buying an additional 877 shares during the period. MidFirst Bank bought a new position in Progress Software in the 4th quarter worth approximately $601,000. Mercer Global Advisors Inc. ADV grew 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 buying an additional 3,325 shares in the last quarter. Finally, State of Tennessee Department of Treasury raised its holdings in Progress Software by 19.8% during 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 acquiring an additional 2,110 shares during the period.

Progress Software Price Performance

NASDAQ:PRGS opened at $39.16 on Thursday. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 1.43 and a beta of 0.82. Progress Software Corporation has a 52-week low of $23.82 and a 52-week high of $56.58. The stock has a fifty day moving average of $30.13 and a 200 day moving average of $34.92. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.47.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.17. Progress Software had a return on equity of 43.54% and a net margin of 8.87%.The business had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. During the same period in the prior year, the company earned $1.40 EPS. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. 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, research analysts expect that Progress Software Corporation will post 4.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PRGS shares. Citigroup cut their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Wedbush dropped their price objective on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings lowered Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 16th. Jefferies Financial Group decreased their price target on Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, March 31st. Finally, DA Davidson reissued a “buy” rating and issued a $40.00 price target on shares of Progress Software in a report on Wednesday. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.67.

Key Headlines Impacting Progress Software

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

• Positive Sentiment: Progress Software delivered fiscal Q2 EPS of $1.62, above estimates, on revenue of $253.5 million that also topped forecasts; revenue rose 6.8% year over year. MarketBeat earnings report
• Positive Sentiment: The company raised fiscal 2026 EPS guidance to $6.09-$6.21 and Q3 EPS guidance to $1.53-$1.59, signaling management confidence after the beat. Progress Software financial results
• Positive Sentiment: Analysts were constructive after the results, with Oppenheimer calling Q2 “solid,” and other firms reaffirming buy/outperform ratings, supporting the post-earnings momentum. Seeking Alpha Oppenheimer note
• Positive Sentiment: The company also highlighted AI-related demand and launched Progress Chef Enterprise Management for NVIDIA DGX Spark, adding another potential growth catalyst. Progress Software AI product launch
• Neutral Sentiment: Oppenheimer trimmed its price target to $50 from $57, though it kept an outperform rating, suggesting valuation remains a discussion point despite the upbeat quarter. Benzinga analyst update
• Neutral Sentiment: DA Davidson reaffirmed a buy rating with a $40 target, indicating mixed but still supportive analyst sentiment after the earnings release. Benzinga analyst update

Progress Software 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.