Progress Software (NASDAQ:PRGS) Shares Down 7.3% – Should You Sell?

Posted by Stanley Muller on Jun 24th, 2026

Progress Software Corporation (NASDAQ:PRGS – Get Free Report) shares traded down 7.3% on Monday . The stock traded as low as $27.43 and last traded at $27.5250. 440,560 shares were traded during trading, a decline of 54% from the average session volume of 958,295 shares. The stock had previously closed at $29.68.

Wall Street Analyst Weigh In

PRGS has been the topic of several recent research reports. Weiss Ratings cut Progress Software from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 16th. Wedbush lowered their target price on Progress Software from $65.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Oppenheimer dropped their target price on Progress Software from $70.00 to $57.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Citigroup cut their price target on Progress Software from $60.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Finally, DA Davidson decreased their price target on Progress Software from $70.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Progress Software has a consensus rating of “Moderate Buy” and a consensus price target of $52.50.

Get Our Latest Report on PRGS

Progress Software Trading Up 4.0%

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The business’s 50 day moving average price is $29.69 and its 200-day moving average price is $35.38. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.47 and a quick ratio of 0.47.

Progress Software (NASDAQ:PRGS – Get Free Report) last announced its quarterly earnings data on Monday, March 30th. The software maker reported $1.60 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.03. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $246.40 million. During the same quarter last year, the firm earned $1.31 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Progress Software Corporation will post 4.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Progress Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new position in shares of Progress Software during the 1st quarter worth $26,000. Parallel Advisors LLC lifted its stake in shares of Progress Software by 142.0% in the first 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 during the period. Hantz Financial Services Inc. lifted its stake in shares of Progress Software by 194.1% in the fourth quarter. Hantz Financial Services Inc. now owns 747 shares of the software maker’s stock valued at $32,000 after purchasing an additional 493 shares during the period. Kemnay Advisory Services Inc. purchased a new stake in Progress Software during the fourth quarter worth about $42,000. Finally, Advisors Asset Management Inc. boosted its holdings in Progress Software by 135.1% during the first quarter. Advisors Asset Management Inc. now owns 1,051 shares of the software maker’s stock worth $54,000 after buying an additional 604 shares in the last quarter.

Progress Software Company Profile

(Get Free Report)

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.