Progress Software Corporation (NASDAQ:PRGS) Receives $50.50 Average PT from Analysts

Shares of Progress Software Corporation (NASDAQ:PRGS) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $52.1667.

A number of analysts have recently issued reports on the stock. DA Davidson boosted their target price on shares of Progress Software from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Guggenheim reiterated a “buy” rating and set a $83.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. Finally, Oppenheimer lowered their price objective 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.

Insider Buying and Selling at Progress Software

In related news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president owned 18,370 shares in the company, valued at approximately $703,019.90. The trade was a 36.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in Progress Software during the 2nd quarter valued at $40,780,000. Heron Bay Capital Management bought a new position in shares of Progress Software during the 2nd quarter worth $34,011,000. Arrowstreet Capital Limited Partnership grew its position in shares of Progress Software by 133.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,221,647 shares of the software maker’s stock worth $31,335,000 after buying an additional 698,611 shares in the last quarter. LSV Asset Management increased its stake in shares of Progress Software by 171.2% during the fourth quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after buying an additional 619,800 shares during the period. Finally, Rice Hall James & Associates LLC purchased a new position in shares of Progress Software during the second quarter valued at $19,149,000.

Progress Software Trading Down 2.0%

PRGS opened at $42.86 on Tuesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.81 and a current ratio of 0.81. The stock’s 50 day moving average price is $37.29 and its 200-day moving average price is $34.43. Progress Software has a one year low of $23.82 and a one year high of $47.37. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 1.84 and a beta of 0.80.

Progress Software (NASDAQ:PRGS) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company had revenue of $253.47 million during the quarter, compared to analysts’ expectations of $242.74 million. During the same quarter in the previous year, the business earned $1.40 EPS. Progress Software’s revenue was up 6.8% compared to the same quarter last year. 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 analysts forecast that Progress Software will post 4.77 EPS for the current year.

Progress Software Company Profile

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.