Shares of Progress Software Corporation (NASDAQ:PRGS – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $52.1667.
Several equities analysts have weighed in on the company. Guggenheim reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Progress Software in a report on Wednesday, July 1st. Weiss Ratings raised Progress Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Oppenheimer dropped their price target on Progress Software from $57.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 1st. Finally, DA Davidson upped their price objective 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.
Check Out Our Latest Stock Analysis on Progress Software
Progress Software Price Performance
Progress Software (NASDAQ:PRGS – Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.16. Progress Software had a net margin of 8.87% and a return on equity of 43.07%. The firm had revenue of $253.47 million during the quarter, compared to the consensus estimate of $242.74 million. During the same quarter in the previous year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. 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. As a group, sell-side analysts predict that Progress Software will post 4.77 earnings per share for the current year.
Insider Buying and Selling at Progress Software
In other news, EVP Sundar Subramanian sold 10,597 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $38.27, for a total transaction 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. This represents a 36.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 4.10% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Progress Software in the 1st quarter valued at $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Progress Software during the 2nd quarter worth $28,000. Parallel Advisors LLC lifted its position in shares of 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 buying an additional 653 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in 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 buying an additional 493 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in Progress Software in the fourth quarter valued at about $42,000.
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.
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