18,700 Shares in Progress Software Corporation $PRGS Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Progress Software Corporation (NASDAQ:PRGS) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 18,700 shares of the software maker’s stock, valued at approximately $480,000.

Several other hedge funds have also recently added to or reduced their stakes in PRGS. Dimensional Fund Advisors LP grew its position in shares of Progress Software by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock worth $50,044,000 after buying an additional 20,669 shares during the period. Geode Capital Management LLC raised its position in shares of Progress Software by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,081,487 shares of the software maker’s stock valued at $46,468,000 after acquiring an additional 6,095 shares during the period. LSV Asset Management boosted its stake in Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock worth $42,178,000 after acquiring an additional 619,800 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Progress Software by 2.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 931,070 shares of the software maker’s stock worth $39,999,000 after acquiring an additional 24,659 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after purchasing an additional 241,515 shares during the period.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $37.76 on Thursday. The company has a fifty day moving average price of $31.13 and a 200 day moving average price of $34.74. The firm has a market cap of $1.55 billion, a PE ratio of 18.33, a PEG ratio of 1.65 and a beta of 0.82. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 1-year low of $23.82 and a 1-year high of $53.17.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. The company had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous 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. Research analysts predict that Progress Software Corporation will post 4.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 of the company’s stock, valued at $703,019.90. This represents a 36.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PRGS shares. Jefferies Financial Group cut their target price on shares of Progress Software from $45.00 to $34.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Citigroup lowered their price objective on shares of Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. DA Davidson reiterated a “buy” rating and set a $40.00 target price on shares of Progress Software in a report on Wednesday, July 1st. Guggenheim restated a “buy” rating and issued a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer dropped their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Progress Software presently has an average rating of “Moderate Buy” and an average price target of $49.67.

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.