Systematic Financial Management LP Decreases Stake in Progress Software Corporation $PRGS

Systematic Financial Management LP lessened its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 884,790 shares of the software maker’s stock after selling 20,128 shares during the period. Systematic Financial Management LP owned approximately 2.10% of Progress Software worth $22,695,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PRGS. Globeflex Capital L P purchased a new stake in shares of Progress Software during the 1st quarter worth $325,000. First Trust Advisors LP grew its stake in shares of Progress Software by 179.8% during the 1st quarter. First Trust Advisors LP now owns 77,978 shares of the software maker’s stock worth $2,000,000 after purchasing an additional 50,112 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Progress Software by 10.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,233,830 shares of the software maker’s stock valued at $31,659,000 after purchasing an additional 121,314 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Progress Software by 142.0% in the 1st 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. Finally, Watershed Asset Management L.L.C. lifted its stake in shares of Progress Software by 42.0% in the first quarter. Watershed Asset Management L.L.C. now owns 15,335 shares of the software maker’s stock valued at $393,000 after purchasing an additional 4,534 shares during the period.

Progress Software Price Performance

Progress Software stock opened at $36.92 on Friday. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $51.28. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 2.55. The firm’s 50-day simple moving average is $33.48 and its 200 day simple moving average is $34.41. The firm has a market capitalization of $1.51 billion, a PE ratio of 17.92, a P/E/G ratio of 1.59 and a beta of 0.82.

Progress Software (NASDAQ:PRGS) last issued its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. The firm had revenue of $253.47 million for the quarter, compared to analysts’ expectations of $242.74 million. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 EPS. Progress Software has set its FY 2026 guidance at 6.090-6.210 EPS and its Q3 2026 guidance at 1.530-1.590 EPS. On average, equities research analysts predict that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on PRGS. Guggenheim reissued a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. DA Davidson increased their target price on shares of Progress Software from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer reduced their price target on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 1st. Citigroup decreased their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Progress Software in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $50.50.

Insider Activity at Progress Software

In other news, EVP Sundar Subramanian sold 10,597 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction of $405,547.19. Following the completion of the transaction, the executive vice president directly owned 18,370 shares of the company’s stock, valued at $703,019.90. This trade represents a 36.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by corporate insiders.

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.