Progress Software Corporation $PRGS Shares Acquired by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC lifted its holdings in Progress Software Corporation (NASDAQ:PRGS) by 148.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,941 shares of the software maker’s stock after purchasing an additional 202,305 shares during the quarter. Rice Hall James & Associates LLC owned about 0.79% of Progress Software worth $14,890,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp grew its stake in shares of Progress Software by 1.3% during the first quarter. Northern Trust Corp now owns 510,558 shares of the software maker’s stock worth $26,299,000 after acquiring an additional 6,435 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Progress Software by 29.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 672,685 shares of the software maker’s stock worth $34,650,000 after purchasing an additional 151,800 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Progress Software by 135.1% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after purchasing an additional 604 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after buying an additional 6,147 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Progress Software by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after buying an additional 1,454 shares during the period.

Insider Buying and Selling

In other news, CFO Anthony Folger sold 5,474 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $46.47, for a total transaction of $254,376.78. Following the transaction, the chief financial officer owned 42,559 shares in the company, valued at $1,977,716.73. This trade represents a 11.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Yufan Stephanie Wang sold 1,428 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $46.26, for a total transaction of $66,059.28. Following the sale, the insider directly owned 668 shares of the company’s stock, valued at $30,901.68. This represents a 68.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,311 shares of company stock valued at $339,332 over the last 90 days. Company insiders own 3.40% of the company’s stock.

Progress Software Stock Up 1.6%

PRGS opened at $43.53 on Friday. The company has a fifty day moving average of $42.93 and a two-hundred day moving average of $46.84. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 39.57, a PEG ratio of 1.88 and a beta of 0.64. Progress Software Corporation has a fifty-two week low of $39.00 and a fifty-two week high of $66.56. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.44 and a current ratio of 0.44.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Monday, September 29th. The software maker reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.20. The firm had revenue of $249.80 million for the quarter, compared to analysts’ expectations of $240.11 million. Progress Software had a return on equity of 43.68% and a net margin of 5.16%.The company’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period last year, the firm earned $1.26 EPS. Progress Software has set its FY 2025 guidance at 5.500-5.560 EPS and its Q4 2025 guidance at 1.290-1.350 EPS. On average, research analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson reaffirmed a “buy” rating and set a $75.00 target price on shares of Progress Software in a report on Tuesday, September 30th. Jefferies Financial Group decreased their price objective on shares of Progress Software from $60.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Citigroup upgraded shares of Progress Software from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Monday, October 13th. Weiss Ratings downgraded shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen raised Progress Software from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Four 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

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.