Progress Software Corporation (NASDAQ:PRGS) Stock Has Consensus Price Target of $51.57

Shares of Progress Software Corporation (NASDAQ:PRGS) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $51.57.

A number of research firms have issued reports on PRGS. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a report on Friday, September 25th. DA Davidson restated a “buy” rating and issued a $55.00 price target on shares of Progress Software in a report on Friday, October 2nd. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Yorkville Ives initiated coverage on Progress Software in a research report on Wednesday, October 7th. They set an “outperform” rating and a $48.00 price objective for the company. Finally, Weiss Ratings upgraded Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th.

Insider Activity at Progress Software

In other Progress Software news, insider Yufan Stephanie Wang sold 1,245 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $37.00, for a total transaction of $46,065.00. Following the completion of the transaction, the insider owned 3,487 shares of the company’s stock, valued at $129,019. This represents a 26.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Anthony Folger sold 3,067 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $40.36, for a total value of $123,784.12. Following the transaction, the chief financial officer directly owned 49,984 shares of the company’s stock, valued at approximately $2,017,354.24. This trade represents a 5.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.

Institutional Trading of Progress Software

A number of institutional investors have recently made changes to their positions in PRGS. Geneos Wealth Management Inc. bought a new stake in Progress Software during the first quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new position in Progress Software during the second quarter valued at approximately $28,000. Parallel Advisors LLC grew its stake in Progress Software by 142.0% in the first quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock valued at $29,000 after purchasing an additional 653 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Progress Software by 192.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,332 shares of the software maker’s stock valued at $57,000 after purchasing an additional 877 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Progress Software during the 2nd quarter worth approximately $61,000.

Progress Software Stock Up 0.4%

Progress Software stock opened at $45.13 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 1.89 and a beta of 0.89. Progress Software has a twelve month low of $23.82 and a twelve month high of $47.25. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 2.33. The company has a 50 day moving average of $41.82 and a 200-day moving average of $36.83.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.17. The company had revenue of $246.01 million during the quarter, compared to the consensus estimate of $247.33 million. Progress Software had a net margin of 9.24% and a return on equity of 42.91%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. 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. On average, equities research analysts anticipate that Progress Software will post 4.78 EPS for the current fiscal year.

About Progress Software

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, integrate, secure and manage business applications and digital services. Its portfolio supports application development, data connectivity, application integration, file transfer, network monitoring and digital experience management across cloud, on-premises and hybrid environments.

The company’s products include OpenEdge for developing and operating business applications; Telerik and Kendo UI development tools; DataDirect data connectivity technologies; Sitefinity digital experience software; WhatsUp Gold network monitoring; MOVEit managed file transfer; and Chef automation and infrastructure-management tools.