Progress Software (NASDAQ:PRGS) CFO Anthony Folger Sells 6,000 Shares of Stock

Progress Software Corporation (NASDAQ:PRGS) 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 transaction of $240,000.00. Following the completion of the transaction, the chief financial officer directly owned 48,802 shares in the company, valued at $1,952,080. This represents a 10.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Progress Software Stock Performance

Shares of NASDAQ:PRGS opened at $40.05 on Wednesday. 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 firm’s 50 day simple moving average is $42.40 and its 200-day simple moving average is $43.69. The firm has a market cap of $1.69 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. Progress Software Corporation has a one year low of $38.54 and a one year high of $65.50.

Progress Software (NASDAQ:PRGS) last posted its quarterly 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 business had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. During the same quarter in the prior year, the company earned $1.33 EPS. The business’s revenue 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 predict that Progress Software Corporation will post 4.01 EPS for the current year.

Institutional Investors Weigh In On Progress Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DLD Asset Management LP lifted its holdings in Progress Software by 31.5% during the second quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock valued at $2,745,120,000 after purchasing an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp raised its position in shares of Progress Software by 8.6% during the 3rd quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after purchasing an additional 153,957 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Progress Software by 26.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock valued at $53,302,000 after buying an additional 243,950 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Progress Software by 1.8% in 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 last quarter. Finally, Geode Capital Management LLC increased its stake in Progress Software by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,067,462 shares of the software maker’s stock worth $68,155,000 after buying an additional 5,187 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on PRGS shares. Jefferies Financial Group lowered their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, January 5th. Weiss Ratings upgraded Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Wedbush decreased their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, January 22nd. DA Davidson lowered their price target on shares of Progress Software from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, January 15th. Finally, Citigroup boosted their price objective on shares of Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.60.

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.