Thrivent Financial for Lutherans Sells 1,510,892 Shares of Progress Software Corporation $PRGS

Thrivent Financial for Lutherans reduced its holdings in Progress Software Corporation (NASDAQ:PRGS) by 98.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 31,099 shares of the software maker’s stock after selling 1,510,892 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Progress Software were worth $1,366,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Advisors Asset Management Inc. lifted its stake in Progress Software by 135.1% in 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 raised its holdings in Progress Software by 16.9% in the 1st 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. raised its holdings in Progress Software by 6.0% in the 1st 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. lifted its position in shares of Progress Software by 75.6% in 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 period. Finally, Jane Street Group LLC boosted its stake in shares of Progress Software by 206.8% during the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after purchasing an additional 75,044 shares in the last quarter.

Progress Software Stock Up 2.4%

PRGS stock opened at $36.53 on Friday. The business has a 50 day moving average of $42.13 and a 200 day moving average of $43.29. The firm has a market cap of $1.54 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.57 and a beta of 0.59. Progress Software Corporation has a twelve month low of $35.26 and a twelve month high of $65.50. 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 (NASDAQ:PRGS) last released its earnings results on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $252.86 million. During the same period in the prior year, the firm posted $1.33 earnings per share. The company’s quarterly 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. On average, research analysts forecast that Progress Software Corporation will post 4.01 EPS for the current fiscal year.

Insider Activity

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 directly owned 48,802 shares in the company, valued at approximately $1,952,080. This trade represents a 10.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Sundar Subramanian sold 1,352 shares of Progress Software stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $42.37, for a total transaction of $57,284.24. Following the completion of the transaction, the executive vice president directly owned 29,066 shares of the company’s stock, valued at $1,231,526.42. This trade represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PRGS. Wedbush decreased their price target on shares of Progress Software from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, January 22nd. Jefferies Financial Group reduced their target price on Progress Software from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Citigroup increased their target price on Progress Software from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, February 5th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $70.00 target price on shares of Progress Software in a research report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Progress Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.60.

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.