Shares of Progress Software Corporation (NASDAQ:PRGS – Get Free Report) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $50.50.
Several research firms have recently weighed in on PRGS. Weiss Ratings reiterated a “sell (d+)” rating on shares of Progress Software in a research report on Tuesday, July 14th. DA Davidson lifted their price target on Progress Software from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Guggenheim restated a “buy” rating and issued a $83.00 target price on shares of Progress Software in a research note on Wednesday, July 1st. Oppenheimer cut their price objective on shares of Progress Software from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, July 1st. Finally, Wedbush reduced their target price on Progress Software from $65.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st.
Read Our Latest Analysis on PRGS
Progress Software Stock Down 2.6%
Progress Software (NASDAQ:PRGS – Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The software maker reported $1.62 EPS for the quarter, beating the consensus estimate of $1.46 by $0.16. The business had revenue of $253.47 million for the quarter, compared to the consensus estimate of $242.74 million. Progress Software had a return on equity of 43.07% and a net margin of 8.87%.The business’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 earnings per share. 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. On average, equities research analysts forecast that Progress Software will post 4.77 EPS for the current year.
Insider Buying and Selling
In other Progress Software news, EVP Sundar Subramanian sold 10,597 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $38.27, for a total transaction of $405,547.19. Following the sale, the executive vice president directly owned 18,370 shares of the company’s stock, valued at approximately $703,019.90. This trade represents a 36.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 4.10% of the company’s stock.
Institutional Investors Weigh In On Progress Software
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its position in shares of Progress Software by 48.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 97,069 shares of the software maker’s stock valued at $3,260,000 after acquiring an additional 31,628 shares during the period. Chesley Taft & Associates LLC raised its position in shares of Progress Software by 8.1% in the second quarter. Chesley Taft & Associates LLC now owns 9,182 shares of the software maker’s stock valued at $308,000 after buying an additional 685 shares during the last quarter. GAMMA Investing LLC lifted its position in Progress Software by 23.9% during the second quarter. GAMMA Investing LLC now owns 2,126 shares of the software maker’s stock worth $71,000 after buying an additional 410 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Progress Software by 1.3% in the 2nd quarter. Moody National Bank Trust Division now owns 28,230 shares of the software maker’s stock valued at $948,000 after buying an additional 357 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Progress Software by 461.6% in the 2nd quarter. Versant Capital Management Inc now owns 2,645 shares of the software maker’s stock valued at $89,000 after buying an additional 2,174 shares during the period.
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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