Progress Software (NASDAQ:PRGS) Given New $50.00 Price Target at DA Davidson

Progress Software (NASDAQ:PRGS) had its price objective cut by DA Davidson from $70.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. DA Davidson’s price target points to a potential upside of 80.90% from the company’s current price.

A number of other brokerages have also recently issued reports on PRGS. Weiss Ratings cut shares of Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 13th. Citigroup upped their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating 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 for the company in a research note on Monday, January 5th. Finally, Wedbush decreased their target price on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Progress Software presently has an average rating of “Moderate Buy” and a consensus target price of $60.60.

Progress Software Stock Down 3.9%

PRGS stock traded down $1.12 during mid-day trading on Wednesday, reaching $27.64. The company had a trading volume of 345,575 shares, compared to its average volume of 1,016,588. Progress Software has a 52 week low of $27.72 and a 52 week high of $65.50. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.37 and a beta of 0.57. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a 50 day simple moving average of $38.67 and a two-hundred day simple moving average of $41.58.

Progress Software (NASDAQ:PRGS) last released its quarterly earnings data on Tuesday, January 20th. The software maker reported $1.51 EPS for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $253.00 million during 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 firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm 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. As a group, equities analysts predict that Progress Software will post 4.01 earnings per share for the current fiscal year.

Insider Transactions at Progress Software

In other Progress Software news, CFO Anthony Folger sold 6,000 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer owned 48,802 shares in the company, valued at $1,952,080. This represents a 10.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sundar Subramanian sold 1,600 shares of the firm’s 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 transaction, the executive vice president directly owned 15,542 shares in the company, valued at $594,947.76. This represents a 9.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 30,546 shares of company stock valued at $1,171,546 in the last three months. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRGS. Russell Investments Group Ltd. boosted its holdings in shares of Progress Software by 0.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 37,067 shares of the software maker’s stock valued at $2,366,000 after acquiring an additional 241 shares in the last quarter. ProShare Advisors LLC increased its holdings in Progress Software by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 8,333 shares of the software maker’s stock worth $358,000 after purchasing an additional 258 shares in the last quarter. F m Investments LLC increased its holdings in Progress Software by 0.5% in the 2nd quarter. F m Investments LLC now owns 54,408 shares of the software maker’s stock worth $3,473,000 after purchasing an additional 271 shares in the last quarter. California State Teachers Retirement System raised its position in Progress Software by 0.8% in the second quarter. California State Teachers Retirement System now owns 39,639 shares of the software maker’s stock valued at $2,531,000 after purchasing an additional 333 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in shares of Progress Software by 4.7% during the second quarter. Integrated Investment Consultants LLC now owns 8,257 shares of the software maker’s stock valued at $527,000 after purchasing an additional 372 shares in the last quarter.

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.