Progress Software (NASDAQ:PRGS) Stock: Insider Anthony Folger Sells 3,067 Shares

Progress Software Corporation (NASDAQ:PRGS) CFO Anthony Folger sold 3,067 shares of the business’s stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $40.36, for a total transaction of $123,784.12. Following the transaction, the chief financial officer owned 49,984 shares of the company’s stock, valued at approximately $2,017,354.24. This represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Progress Software Price Performance

Shares of PRGS traded up $1.10 during mid-day trading on Tuesday, reaching $43.35. The company had a trading volume of 517,828 shares, compared to its average volume of 836,698. The company’s 50 day simple moving average is $41.55 and its 200 day simple moving average is $35.85. Progress Software Corporation has a 1-year low of $23.82 and a 1-year high of $47.25. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.71 and a beta of 0.89.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.17. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The business had revenue of $246.01 million during the quarter, compared to analysts’ expectations of $247.33 million. During the same period in the prior year, the company earned $0.44 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Progress Software has set its Q4 2026 guidance at 1.240-1.330 EPS and its FY 2026 guidance at 6.150-6.230 EPS. Analysts expect that Progress Software Corporation will post 4.78 EPS for the current year.

Hedge Funds Weigh In On Progress Software

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Moody National Bank Trust Division raised its stake in shares of Progress Software by 1.3% in the second quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock worth $948,000 after purchasing an additional 357 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Progress Software by 23.9% during the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock valued at $71,000 after buying an additional 410 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Progress Software by 4.4% in the 2nd quarter. Wedbush Securities Inc. now owns 12,884 shares of the software maker’s stock worth $433,000 after buying an additional 545 shares in the last quarter. Parallel Advisors LLC increased its holdings in Progress Software by 142.0% in the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after buying an additional 653 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in Progress Software by 8.1% in the 2nd quarter. Chesley Taft & Associates LLC now owns 9,182 shares of the software maker’s stock worth $308,000 after buying an additional 685 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have issued reports on PRGS. Weiss Ratings raised Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Yorkville Ives began coverage on Progress Software in a research report on Wednesday, October 7th. They issued an “outperform” rating and a $48.00 target price for the company. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. DA Davidson reissued a “buy” rating and set a $55.00 price target on shares of Progress Software in a research note on Friday, October 2nd. Finally, Guggenheim restated a “buy” rating and set a $83.00 price target on shares of Progress Software in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Progress Software has an average rating of “Moderate Buy” and an average price target of $51.57.

Progress Software Company Profile

Progress Software Corporation develops enterprise software that helps organizations build, deploy, integrate, and manage business applications and digital services. Its offerings are designed to support application development, data connectivity, integration, messaging, user experiences, and infrastructure performance across on-premises, cloud, and hybrid environments.

The company’s product portfolio includes OpenEdge for application development and deployment, DataDirect for data connectivity, MOVEit for managed file transfer, WhatsUp Gold for network monitoring, and Sitefinity for digital experience management.