Progress Software (NASDAQ:PRGS) CFO Anthony Folger Sells 6,000 Shares

Progress Software Corporation (NASDAQ:PRGS) CFO Anthony Folger sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $40.00, for a total value of $240,000.00. Following the completion of the sale, the chief financial officer directly owned 48,802 shares of the company’s stock, valued at approximately $1,952,080. The trade was a 10.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Progress Software Stock Down 2.3%

Shares of Progress Software stock traded down $0.94 during midday trading on Tuesday, reaching $40.05. 1,550,068 shares of the company’s stock traded hands, compared to its average volume of 961,371. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.80 and a beta of 0.59. Progress Software Corporation has a 52 week low of $38.54 and a 52 week high of $65.50. The company’s 50 day simple moving average is $42.43 and its 200 day simple moving average is $43.74. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.49 and a current ratio of 0.49.

Progress Software (NASDAQ:PRGS) last posted its earnings results on Tuesday, January 20th. The software maker reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.20. The company had revenue of $253.00 million for the quarter, compared to analyst estimates of $252.86 million. Progress Software had a return on equity of 43.90% and a net margin of 7.48%.The business’s revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. 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. Equities analysts expect that Progress Software Corporation will post 4.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Progress Software

A number of large investors have recently bought and sold shares of PRGS. Advisors Asset Management Inc. boosted its stake in Progress Software by 135.1% in the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after purchasing an additional 604 shares in the last quarter. AQR Capital Management LLC grew its holdings in Progress Software by 16.9% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Progress Software by 6.0% in the 1st 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. raised its stake in shares of Progress Software by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock worth $28,894,000 after acquiring an additional 241,515 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Progress Software from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. DA Davidson reduced their price objective on Progress Software from $75.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Wedbush lowered their price objective on Progress Software from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, January 22nd. Finally, 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 report on Monday, January 5th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $64.60.

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.