Shares of Progress Software Corporation (NASDAQ:PRGS – Get Free Report) saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 1,162,482 shares traded hands during trading, an increase of 19% from the previous session’s volume of 979,767 shares.The stock last traded at $39.8670 and had previously closed at $33.58.
The software maker reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.17. The company had revenue of $253.47 million for the quarter, compared to analyst estimates of $242.74 million. Progress Software had a net margin of 8.61% and a return on equity of 43.67%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $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.
Trending Headlines about Progress Software
Here are the key news stories impacting Progress Software this week:
- Positive Sentiment: Progress Software reported Q2 EPS of $1.62 versus estimates near $1.45 and revenue of $253.5 million versus expectations of about $242.7 million, showing a broad earnings and sales beat. Article Title
- Positive Sentiment: The company raised FY2026 EPS guidance to $6.09-$6.21 and Q3 EPS guidance to $1.53-$1.59, both above analyst forecasts, signaling stronger profitability ahead. Article Title
- Positive Sentiment: Management said AI-related demand is supporting its data, workflow and infrastructure platforms, and it also launched Progress Chef Enterprise Management for NVIDIA DGX Spark, reinforcing the company’s AI positioning. Article Title
- Neutral Sentiment: Commentary around disciplined debt and net leverage near 2.8x suggests management is still focused on balance-sheet control, which may help reduce risk but is not the main driver of the stock today. Article Title
- Negative Sentiment: Despite the upbeat results, some commentary noted the stock had already rallied sharply recently, so upside may be more limited if expectations continue to rise. Article Title
Analyst Upgrades and Downgrades
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Institutional Investors Weigh In On Progress Software
Several institutional investors and hedge funds have recently made changes to their positions in PRGS. Pacer Advisors Inc. boosted its holdings in Progress Software by 14,333.9% in the first quarter. Pacer Advisors Inc. now owns 259,378 shares of the software maker’s stock valued at $6,653,000 after acquiring an additional 257,581 shares during the last quarter. Parallel Advisors LLC raised its holdings in Progress Software by 142.0% during the 1st quarter. Parallel Advisors LLC now owns 1,113 shares of the software maker’s stock worth $29,000 after purchasing an additional 653 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of Progress Software by 15.4% in the 1st 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 during the period. Janus Henderson Group PLC lifted its position in shares of Progress Software by 6.3% in the 1st quarter. Janus Henderson Group PLC now owns 48,038 shares of the software maker’s stock worth $1,232,000 after purchasing an additional 2,828 shares during the period. Finally, Amundi boosted its stake in shares of Progress Software by 94.6% in the 1st quarter. Amundi now owns 20,208 shares of the software maker’s stock valued at $518,000 after purchasing an additional 9,825 shares during the last quarter.
Progress Software Stock Performance
The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.47 and a current ratio of 0.47. The stock’s 50 day moving average price is $29.97 and its 200 day moving average price is $34.96. The company has a market capitalization of $1.68 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 1.45 and a beta of 0.83.
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.
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