Oppenheimer & Co. Inc. Takes $894,000 Position in Progress Software Corporation $PRGS

Oppenheimer & Co. Inc. bought a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 20,348 shares of the software maker’s stock, valued at approximately $894,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its position in Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after acquiring an additional 604 shares during the period. AQR Capital Management LLC increased its stake in shares of Progress Software by 16.9% during the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock worth $2,194,000 after purchasing an additional 6,147 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 purchasing an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Progress Software by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after purchasing an additional 241,515 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Progress Software by 206.8% in the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after buying an additional 75,044 shares in the last quarter.

Insider Activity at Progress Software

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer owned 48,802 shares of the company’s stock, valued at $1,952,080. This trade represents a 10.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction on Monday, January 26th. The shares were sold at an average price of $42.37, for a total value of $57,284.24. Following the completion of the sale, the executive vice president owned 29,066 shares in the company, valued at $1,231,526.42. This represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

PRGS has been the subject of several research reports. DA Davidson reiterated a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research note on Wednesday, February 4th. Jefferies Financial Group dropped their price target on Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Citigroup raised their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Weiss Ratings lowered shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, February 5th. Finally, Wedbush reduced their target price 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. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Progress Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.60.

Progress Software Trading Up 2.4%

Shares of PRGS opened at $36.53 on Tuesday. Progress Software Corporation has a 12-month low of $35.26 and a 12-month high of $65.50. The firm has a market capitalization of $1.54 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.60 and a beta of 0.59. The firm has a 50-day moving average price of $41.98 and a 200 day moving average price of $43.12. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 2.18.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. Progress Software had a net margin of 7.48% and a return on equity of 43.90%. The company had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. During the same period in the previous year, the business posted $1.33 EPS. Progress Software’s revenue was up 17.5% on a year-over-year basis. 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. Sell-side analysts forecast that Progress Software Corporation will post 4.01 EPS for the current year.

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.