Progress Software (NASDAQ:PRGS) Announces Earnings Results, Beats Estimates By $0.10 EPS

Progress Software (NASDAQ:PRGS) issued its quarterly earnings data on Monday. The software maker reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10, RTT News reports. Progress Software had a return on equity of 44.24% and a net margin of 6.63%. The firm had revenue of $237.36 million during the quarter, compared to analyst estimates of $237.23 million. During the same quarter last year, the firm earned $1.09 EPS. Progress Software’s quarterly revenue was up 35.6% on a year-over-year basis. Progress Software updated its FY 2025 guidance to 5.280-5.400 EPS and its Q3 2025 guidance to 1.280-1.340 EPS.

Progress Software Stock Performance

Shares of Progress Software stock traded up $0.42 during trading on Wednesday, hitting $55.94. 150,569 shares of the stock were exchanged, compared to its average volume of 579,568. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.79 and a current ratio of 0.79. Progress Software has a 12 month low of $50.68 and a 12 month high of $70.56. The stock’s fifty day moving average is $61.97 and its 200 day moving average is $59.70. The stock has a market cap of $2.41 billion, a PE ratio of 42.75, a P/E/G ratio of 3.05 and a beta of 0.68.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PRGS shares. Jefferies Financial Group reissued a “hold” rating on shares of Progress Software in a report on Friday, June 27th. Citigroup reaffirmed a “neutral” rating on shares of Progress Software in a research report on Friday, June 27th. Guggenheim reissued a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Friday, June 27th. DA Davidson increased their target price on Progress Software from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $75.00 price target on shares of Progress Software in a report on Friday, June 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.17.

Insider Activity

In related news, insider Ian Pitt sold 703 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $56.29, for a total value of $39,571.87. Following the completion of the transaction, the insider directly owned 8,317 shares of the company’s stock, valued at $468,163.93. This represents a 7.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Yufan Stephanie Wang sold 1,428 shares of Progress Software stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $58.27, for a total value of $83,209.56. The disclosure for this sale can be found here. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its position in Progress Software by 135.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock valued at $54,000 after buying an additional 604 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of 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 acquiring an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Progress Software by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock valued at $1,321,000 after acquiring an additional 1,454 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Progress Software by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after acquiring an additional 241,515 shares during the period. Finally, Jane Street Group LLC raised its holdings in Progress Software by 206.8% during the first quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock worth $5,734,000 after purchasing an additional 75,044 shares in the last quarter.

Progress Software Company Profile

Progress Software Corporation develops, deploys, and manages business applications in the United States and internationally. The company offers OpenEdge, an application development platform for running business-critical applications; Chef, a DevOps/DevSecOps automation software; Developer Tools that consists of software development tooling collection, including .NET and JavaScript UI components for web, desktop and mobile applications, reporting and report management tools, and automated testing and mocking tools; Kemp LoadMaster, an application delivery and security product offering cloud-native, and virtual and hardware load balancers; and Sitefinity, a digital experience platform foundation delivering intelligent and ROI-driving tools for marketers.