Progress Software (NASDAQ:PRGS) EVP Sundar Subramanian Sells 1,600 Shares of Stock

Progress Software Corporation (NASDAQ:PRGS) EVP Sundar Subramanian sold 1,600 shares of Progress Software stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $38.28, for a total transaction of $61,248.00. Following the completion of the sale, the executive vice president owned 15,542 shares of the company’s stock, valued at $594,947.76. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sundar Subramanian also recently made the following trade(s):

• On Tuesday, March 10th, Sundar Subramanian sold 21,594 shares of Progress Software stock. The shares were sold at an average price of $37.65, for a total transaction of $813,014.10.
• On Monday, January 26th, Sundar Subramanian sold 1,352 shares of Progress Software stock. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24.

Progress Software Stock Performance

PRGS traded down $0.28 during mid-day trading on Friday, reaching $35.42. 632,089 shares of the company traded hands, compared to its average volume of 1,036,404. The company’s fifty day moving average price is $40.26 and its 200-day moving average price is $42.38. The stock has a market capitalization of $1.49 billion, a P/E ratio of 21.34, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 2.18. Progress Software Corporation has a 52-week low of $34.25 and a 52-week high of $65.50.

Progress Software (NASDAQ:PRGS) last released 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. The firm had revenue of $253.00 million for the quarter, compared to the consensus estimate of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the business posted $1.33 EPS. 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. On average, sell-side analysts expect that Progress Software Corporation will post 4.01 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PRGS. Jefferies Financial Group cut their target price on shares of Progress Software from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, January 5th. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, February 25th. DA Davidson reissued a “buy” rating and set a $70.00 price objective on shares of Progress Software in a research report on Wednesday, February 4th. Citigroup upped their price objective on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Finally, Wedbush lowered their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.60.

Hedge Funds Weigh In On Progress Software

A number of hedge funds have recently made changes to their positions in the business. DLD Asset Management LP lifted its holdings in Progress Software by 31.5% in the 2nd quarter. DLD Asset Management LP now owns 43,000,000 shares of the software maker’s stock worth $2,745,120,000 after purchasing an additional 10,300,000 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Progress Software by 8.6% in the third quarter. Boston Trust Walden Corp now owns 1,950,676 shares of the software maker’s stock worth $85,693,000 after buying an additional 153,957 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Progress Software by 26.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,178,716 shares of the software maker’s stock worth $53,302,000 after acquiring an additional 243,950 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Progress Software by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,139,309 shares of the software maker’s stock valued at $50,044,000 after acquiring an additional 20,669 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Progress Software by 0.6% during the fourth 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 in the last quarter.

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.