Prescott Group Capital Management L.L.C. Buys New Holdings in Progress Software Corporation $PRGS

Prescott Group Capital Management L.L.C. purchased a new stake in shares of Progress Software Corporation (NASDAQ:PRGS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 30,000 shares of the software maker’s stock, valued at approximately $1,199,000. Prescott Group Capital Management L.L.C. owned about 0.07% of Progress Software at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rice Hall James & Associates LLC increased its position in shares of Progress Software by 27.2% in the first quarter. Rice Hall James & Associates LLC now owns 452,702 shares of the software maker’s stock valued at $11,612,000 after acquiring an additional 96,793 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Progress Software by 15.4% during the first quarter. Glenmede Trust Co. NA now owns 312,282 shares of the software maker’s stock worth $8,010,000 after purchasing an additional 41,600 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Progress Software by 133.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after purchasing an additional 698,611 shares during the period. Oaktop Capital Management II L.P. bought a new stake in shares of Progress Software in the second quarter worth about $17,079,000. Finally, Corient Private Wealth LP grew its stake in shares of Progress Software by 42.8% in the second quarter. Corient Private Wealth LP now owns 129,526 shares of the software maker’s stock worth $4,349,000 after purchasing an additional 38,815 shares during the last quarter.

Insider Buying and Selling at Progress Software

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DA Davidson restated a “buy” rating and set a $55.00 price target on shares of Progress Software in a report on Friday, October 2nd. Jefferies Financial Group upgraded Progress Software to a “hold” rating in a research report on Friday, September 25th. Yorkville Ives initiated coverage on Progress Software in a research note on Wednesday, October 7th. They set an “outperform” rating and a $48.00 target price on the stock. Zacks Research raised Progress Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Finally, Weiss Ratings upgraded Progress Software from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.57.

Progress Software Price Performance

Shares of NASDAQ PRGS opened at $44.12 on Wednesday. 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 current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day moving average is $41.84 and its 200 day moving average is $36.85. The stock has a market capitalization of $1.80 billion, a P/E ratio of 20.33, a P/E/G ratio of 1.88 and a beta of 0.87.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Wednesday, September 30th. The software maker reported $1.69 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $247.33 million. During the same period last year, the business posted $0.44 earnings per share. Progress Software’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. On average, sell-side analysts expect that Progress Software Corporation will post 4.78 earnings per share for the current 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.