Engineers Gate Manager LP Has $1.84 Million Stake in Progress Software Corporation $PRGS

Engineers Gate Manager LP increased its holdings in shares of Progress Software Corporation (NASDAQ:PRGS) by 321.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 54,940 shares of the software maker’s stock after acquiring an additional 41,910 shares during the quarter. Engineers Gate Manager LP’s holdings in Progress Software were worth $1,845,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. grew its holdings in Progress Software by 37.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 124,750 shares of the software maker’s stock worth $5,359,000 after acquiring an additional 33,800 shares during the period. LSV Asset Management boosted its position in shares of Progress Software by 171.2% during the 4th quarter. LSV Asset Management now owns 981,800 shares of the software maker’s stock valued at $42,178,000 after purchasing an additional 619,800 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Progress Software during the 4th quarter valued at about $1,470,000. Glenmede Trust Co. NA increased its holdings in Progress Software by 15.4% in 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 in the last quarter. Finally, Rice Hall James & Associates LLC lifted its stake in 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 buying an additional 96,793 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on PRGS shares. Oppenheimer dropped their target price on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 1st. Guggenheim reiterated 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 price objective on shares of Progress Software from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.17.

Progress Software Stock Performance

NASDAQ PRGS opened at $43.56 on Wednesday. The company has a fifty day moving average price of $41.76 and a 200-day moving average price of $34.97. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.81 and a beta of 0.82. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.81 and a quick ratio of 0.81. Progress Software Corporation has a 1 year low of $23.82 and a 1 year high of $47.37.

Progress Software (NASDAQ:PRGS) last announced its earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.16. The firm had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business 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. As a group, equities research analysts predict that Progress Software Corporation will post 4.77 EPS for the current fiscal year.

Insider Activity at Progress Software

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

Progress Software Profile

Progress Software Corporation (NASDAQ: PRGS) develops enterprise software designed to help organizations build, deploy, manage and secure business applications and digital services. Its portfolio supports application development, data connectivity, integration, file transfer, application performance monitoring and network management across cloud, hybrid and on-premises environments.

The company’s products and brands include OpenEdge for developing and deploying business applications; DataDirect for data connectivity; MOVEit for managed file transfer; WhatsUp Gold and Flowmon for network monitoring and visibility; Chef for infrastructure and application automation; Sitefinity for digital experience management; and Telerik and Kendo UI for user interface and development tools.