PEAK6 LLC bought a new stake in Progress Software Corporation (NASDAQ:PRGS – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,850 shares of the software maker’s stock, valued at approximately $465,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Advisors Asset Management Inc. raised its position in Progress Software by 135.1% during the 1st 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 during the last quarter. AQR Capital Management LLC lifted its position in Progress Software by 16.9% in the first quarter. AQR Capital Management LLC now owns 42,587 shares of the software maker’s stock valued at $2,194,000 after purchasing an additional 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Progress Software by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,644 shares of the software maker’s stock worth $1,321,000 after purchasing an additional 1,454 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Progress Software by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 560,943 shares of the software maker’s stock valued at $28,894,000 after buying an additional 241,515 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of Progress Software by 206.8% in the 1st quarter. Jane Street Group LLC now owns 111,326 shares of the software maker’s stock valued at $5,734,000 after purchasing an additional 75,044 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on PRGS shares. Guggenheim reaffirmed a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. DA Davidson raised their target price 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. Weiss Ratings upgraded shares of Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Oppenheimer lowered their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.17.
Progress Software Stock Performance
NASDAQ PRGS opened at $44.36 on Monday. The stock has a market cap of $1.82 billion, a P/E ratio of 21.53, a PEG ratio of 1.86 and a beta of 0.80. The company’s fifty day simple moving average is $38.26 and its 200-day simple moving average is $34.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 2.55. Progress Software Corporation has a 52 week low of $23.82 and a 52 week high of $47.37.
Progress Software (NASDAQ:PRGS – Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 8.87% and a return on equity of 43.07%. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter 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. Equities research analysts predict that Progress Software Corporation will post 4.77 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP Sundar Subramanian sold 10,597 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total value of $405,547.19. Following the completion of the sale, the executive vice president owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. The trade was a 36.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 4.10% of the stock is owned by company insiders.
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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