Sundar Subramanian Sells 10,597 Shares of Progress Software (NASDAQ:PRGS) Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Stock Up 1.2%

Shares of NASDAQ PRGS opened at $39.21 on Wednesday. The firm’s 50-day moving average price is $30.92 and its 200-day moving average price is $34.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 1.63 and a beta of 0.82. Progress Software Corporation has a 12-month low of $23.82 and a 12-month high of $53.71.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, topping the consensus estimate of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company had revenue of $253.47 million during the quarter, compared to analyst estimates of $242.74 million. During the same quarter last year, the business posted $1.40 earnings per share. The firm’s revenue was up 6.8% on a year-over-year basis. 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 anticipate that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Trading of Progress Software

Institutional investors and hedge funds have recently made changes to their positions in the business. Hillsdale Investment Management Inc. increased its stake in Progress Software by 37.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock worth $5,359,000 after buying an additional 33,800 shares during the period. Dana Investment Advisors Inc. bought a new stake in Progress Software during the 4th quarter valued at about $6,011,000. M&T Bank Corp purchased a new stake in Progress Software in the 4th quarter valued at about $3,626,000. LSV Asset Management boosted its position in Progress Software by 171.2% in the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after buying an additional 619,800 shares during the period. Finally, WINTON GROUP Ltd bought a new position in Progress Software in the 4th quarter worth about $3,501,000.

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.